Buy the Dip…Just not the last one!
There is a saying in strong Bull Markets that you can always buy the dips (small pullbacks) and the market just keeps going higher……..until the last dip that comes near the ultimate Top. But no one knows when that will be until its in rear view mirror.
Today markets rallied off the most recent 6% pullback and most tech stocks gapped up at the Open. We will be monitoring all week the “Recovery Rally” using the Scorecard discussed in yesterday’s Focus List Video.
We were prepared with our Focus List today and some names triggered:
AMZN Triggered $250.43
LMND triggered $78.83
GH triggered at 100.32 but pulled back down
LYFT triggered at $22.29 and had a good session +7.6%
SNDK flexed muscle again with an OEL (Open Equals Low) Candle gapping up and closing +12% to NH
GEV triggered and lasted about an hour before reversing and hitting our sell stop but risk was kept very tight at 2.9%
NXT did NOT trigger……On a BnB Entry, we must have a trade thru the pivot price, even “back door entry” where we open higher and then pull back into the pivot.
Let’s see what the rest of the week brings….Friday’s low is an important level to hold.
Trade well
J
I love this idea of the blog posts. Will we get notified when the latest is published?
Yes I will send an email when there is a new post…I may need to delete the thumbnails as it takes up space when the blog posts start accumulating
This is a great idea John!
It gives us easy access to your emails!
Ps: Has SCHW triggered as well?
Thank you for all your excellent research I really appreciate all your efforts!
Paul Bournival
Yes SCHW triggered yesterday as well.
These Blogs are a great idea, thanks so much!!!!!!
Blog is a great idea as it also builds a sense of community. Emails needs to be enabled whenever a new post is published so that people in travel can also access the blog once its published.
Thanks John. I really like the Blogging as well.