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The Chop is Back

The indexes have the uncanny ability to erase two weeks gains in two days. Last week, we finally saw some deflation in the frothiness that had captured the market. Almost 99% of all stocks went down on Thursday. SPY dropped 6% testing its 200-day moving average. QQQ dropped 5% testing its 20-day EMA. Such big one-day drops often act as a wake-up call. The odds are that now the chasing is not going to be as mindless as in May but turning excessively bearish might be premature. Here’s why.

The price action in the past couple months has created a buy the dip mentality which is likely to continue to support the indexes for the foreseeable future. This is not going to change easily. Even now, there are quite a few momentum stocks that are consolidating in a range and acting constructively. And yet, the trading environment has changed from a clear uptrend into choppy which requires a lot more nimbleness and careful tactical allocation.

The market continues to provide incredible trading opportunities on a daily basis. Here are just a few of the ideas and comments I shared with subscribers last week:

Every trading idea is shared either via email conveniently delivered to your inbox or via a private Twitter stream which allows push notifications to your phone. Every idea comes with a suggested entry range, stop, exit guidelines, and a way to leverage it with options if it is appropriate.
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See the performance of all trade ideas I shared on my private twitter stream and weekly email.

See examples of typical tweets and emails I send to my members.

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Practical books that can transform your trading game

Swing Trading with Options - How to trade big trends for big money

Top 10 Trading Setups - How to find them, When to trade them, How to make money with them

The Next Apple - How to own the best-performing stocks in any given year

The 5 Secrets to highly-profitable swing trading

Crash - How to Protect and Grow You rCapital during Corrections

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Disclaimer

Nothing in this email should be considered an investment advice. Everything is for educational and informational purposes only. I might or might not have positions in the mentioned stocks and option contracts.

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