This is perhaps one of the best examples of Allan’s trend trading system. Allan says that BIDU is an excellent trender and his system would have got you in sometime in January, though the last weekly signal was back in 2009. For you bears, his system should catch a trend reversal early. (It’s hard not to look at that chart and anticipate a BID adieU moment, but maybe that’s just me.) Anyway, Allan’s system is easy to trade and you’d only be looking at signals on Monday morning. – Ilene
Courtesy of Allan
I wrote up the Weekly Trade Model of BIDU back in January. It has turned into one of big success stories of the Trend Models:
We knew in January that BIDU trended well and was a good stock to trade in a longer-term model. Although they all don’t trend this well, having one or two that do, make up for any that don’t. Another "Basket" idea in the making?
And the market as a whole?
Says Allan: Back to Trends.
Notwithstanding my personal trend line, the market’s trend has been up since mid February.
The beauty and simplicity of this directional model cannot be overstated. The up-trend continues, as it will until it reverses. Trade accordingly.
Allan just launched a newsletter, “Trend Following Trading Model,” to go with the trading system he’s been working on for years. His trend-following method is chart-based and objective. Most trades last for weeks to months. Allan’s offering PSW readers a special 25% discount. Click here. For a more detailed introduction to the Trend Following Trading Model newsletter and trading system, read this introductory article. – Ilene