Stock Market Rally However on Light Volume & Still Not on a Buy on $SWKS $GLOG
Everyone is jumping up and down. We are at all time highs etc. However if one is to really look at the Russell, the story is much different. More so you want to see rallys on big volume. Again this was not the case. The model I use for the SP is on a buy, however the Nasdaq in which I trade most of my stocks is still not on a buy! Close but not yet. One must follow exact rules otherwise there can never be consistency. This is our goal is to repeat our trades over and over. Let the probabilities occur. Accept the inevitable losses ( as there will be many). Keep losses small and let profits ride.
As I want to buy the strongest stocks both fundamentally as well as technically when the market is healthy…I am watching 3 stocks, SWKS, GLOG and KORS. I will nibble on SWKS as it took out a 3 week pattern however I am not on a buy on the QQQ.
None of the above is meant for any personal recommendations rather to educate one as how to trade. Make your own trading decisions and do not rely on these. See full disclosure