The old adage, "the trend is your friend" is a good one, and generally it's sage advice.
But when you find yourself trading in a range-bound market, it's important to respect key support and resistance until they're broken.
So as the major averages dip down toward support, and after several days of relentless selling, I was looking for something to possibly buy.
This episode from TheStockBandit.TV explains my thought process with a trade I put on today - enjoy the show!
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