$PSX Simple base breakout Paying. Good start.
$PSX has good fundamentals also. We combine Both good fundamentals AND technicals in constructing our buy list for the day. *Note the NUMBERS on $PSX
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This is a good lesson. We Key on Price AND Volume action. $NTAP up on HEAVY volume yesterday. QUIET inside day with low volume today. That is positive action.
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Good to be back!
Good buying helps. But GOOD SELLING is where the money is made. Sells into strength ROCKED for us! Or should I say? ROCKETED for us! Dad humor! Gotta have fun too.
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This is a VERY important lesson. We let price action GUIDE US. Price losing key moving averages. Locked in monster profits on last shares. And....partial sells into strength up higher!
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Note the chart on QLD . No powerful breakouts since April. Notice very little buying for a while. Now you see why!
We always measure strength or weakness in the markets.
This is a VERY important lesson. We can read all the news about the stock. But the MOST IMPORTANT NEWS TO MAKE MONEY IS IN THE CHART. We "read it" with an open mind.
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This is a POWERFUL LESSON! Charts have MEMORY! Where does AMZN pause today? What is the high of the 2 marked bars. Note...10 cents difference
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We know what to look for and what to do! This leads to less stress. Which leads to clearer thinking and decision-making. Which normally leads to better, more consistent profits.