1/31/2011 Market review

Kunal
Desai
January 31, 2011
How to trade stocksbows-opengraphTrading-Watch-List

 

Morning folks.  Friday was a bit of a bloodbath in the market. This week will be key to see if we get more confirmation of a downward move. WE have pierced below the 20dma.  By no means does that mean we have a market breakdown but it is a big red flag as we got a market breakout, then breakout failure, then a breakdown of the 20dma.  We still need price confirmation of a breakdown so we will keep an eye on that.

 

Be very very careful with swings.  This is a good time to reduce your position size and cut ur port risk.

 

Be mindful of overtrading and fighting the tape.  This is a good time to be more selective on your trades.

 

I will be keeping cash levels of 70% plus for the time being.

 

 

Subscribe to newsletter
By subscribing you agree to with our Privacy Policy.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Share