Courtesy of David Grandey
Say it with us! Pullbacks Off Highs and grand slams to the 50-day average are the only two patterns you’ll ever have to know. Be it in uptrending markets or even in markets where some would say “Market In Correction”
Let’s review with some charts of our current holdings
IPGP
INFA
SFLY
ILMN
Look at each one. What do you see? For the most part they are all issues in uptrends and above the 50 day average. They either completed a pink line POH or they pulled back to the 50 day or a prior support level. It’s really as simple as that. No need to make life any harder than it is by thinking things through too much.
In addition to the above make sure you check out our current watch list err shall we say the “Featured But Not Trade Triggered By Us List” as the bulk of them all triggered and have moved away from prime entries.
Remember all the while the markets are in a correction this took place. This IS the reason why we eat, sleep and live the statements of:
“Let your stocks tell you what to do by the action they exhibit”
“We trade what we see, not think, hear or fear”
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