@prudentinvstr Thank you sir. If you watch my next video on the $TICK chart then we now know the mind of the majority of institutional traders. They are primarily concerned with government reports on housing, manufacturing, and unemployment. They are coming back after summer vacations and will most likely start using new money to put on positions ahead of the 4th quarter. They are probably researching what toys/products will be big this Christmas and are buying seasonal stocks now.
@JasonYoungMD Thanks. Short term trend up, but one week does not establish a trend reversal. It does; however, establish profit taking on short side and closing out short positions as it is an upgrade from the previous week. The move then is to the sidelines until a new trend is established. If already long, set tight stops to lock in your profits in the event of a pullback. This is still a dangerous market for longs until we establish an uptrend.
@prudentinvstr Thank you sir. If you watch my next video on the $TICK chart then we now know the mind of the majority of institutional traders. They are primarily concerned with government reports on housing, manufacturing, and unemployment. They are coming back after summer vacations and will most likely start using new money to put on positions ahead of the 4th quarter. They are probably researching what toys/products will be big this Christmas and are buying seasonal stocks now.
StockTradingMaster 1 year ago
@JasonYoungMD Thanks. Short term trend up, but one week does not establish a trend reversal. It does; however, establish profit taking on short side and closing out short positions as it is an upgrade from the previous week. The move then is to the sidelines until a new trend is established. If already long, set tight stops to lock in your profits in the event of a pullback. This is still a dangerous market for longs until we establish an uptrend.
StockTradingMaster 1 year ago
Nice Video. Refreshing that you take a stance and give some guidance (recent change in trend to upside, yet neutral until we see a pullback).
JasonYoungMD 1 year ago
Good Advice .
prudentinvstr 1 year ago