Shout out to my brothers and sisters who post charts, talk about how they are looking at the market, and are approaching their trades with real money in the line.
We will be right and we will be wrong, but we know that is how real trading works.
Anchors I am watching on the equally weighted S&P 500 $RSP
Earlier today @DChartLife and I were discussing what would happen if we lost semiconductors as a group.
My answer was I don't care if they correct as long as a bunch of other groups take their place.
Because that is bull market behavior.
Staples and other "boring" groups may not be as "important" as a group like semis but as long as people are buying stocks I think that provides you with a surprising amount of context about the environment.
Find yourself a community who will teach, challenge, and support you on your trading journey. Need a community? Let me share mine...
The crew at @StockMktTV. They go by a lot of names: colleagues, mentors, traders, CMTs, friends... but to me, they're family.
Next stop, Las Vegas!
I was fortunate to hear @daChartLife give a fantastic presentation at our portfolio accelerator event last week.
One of my favorite things he said was, “I’m a good stock picker, but I’m a great stock picker when more stocks are making new highs than lows.”
That’s the difference breadth makes.
Last week I attended the @StockMktTV Portfolio Accelerator event in NYC and heard from some of the sharpest minds in finance.
With hundreds of charts to choose from, here are 3 standouts from each presentation.
Check it out! ⬇️
https://t.co/pfwyFzl3VE
For those who don’t understand market dynamics.
$QQQ and $XLK making all-time highs doesn’t refute weak breadth.
A handful of mega-caps can make new highs while the average stock struggles.
Using index highs to dismiss poor breadth is a straw man argument.
Bad breadth means more stocks have been moving lower than higher.
That’s been the case most recently, but no one said the bull market was ending because of it.
Another great couple of days with the @StockMktTV crew and friends. Great presentations and plenty of trade ideas.
Looking forward to doing it all again in Vegas!
There are many strategies for making money in the market, and I’m sure there’s a few standouts that can make more trading multiple timeframes in a messy environment. But don’t get it twisted, most strategies need stocks going up.
Find a clean process and repeat it. Their strategy isn’t better than yours; they’re just more disciplined.