Bullish Stock Market Keeps Chugging Along- Take Profits? 4-17-20
The stock market keeps on chugging a long to the delight of 401K's everywhere.
The question for today is profits. Do we sell our stock trades after a solid three week rally off the lows?
Today we review a system for profit taking that also allows us to hold our winning trades longer.
It's a simple trading strategy that exits winning trades in two pieces.
Plus I show how to re-enter if the trade becomes valid again.
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Want to Learn Order Flow?
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TRADING GAME PLAN 4-17-20
Watch: Today's Best Stock Picks
Tech stocks such as AMD and MSFT continue to show bullish order flow. AMD is in a profit taking area today.
Airlines and casinos remain in a "do nothing" trading range.
Financial stocks are likely to pause after heavy earnings related selling.
GILD has reportedly announced promising signs for a coronavirus treatment.
Click to see the story.
The SPY ETF is breaking out of a five day consolidation. If you're day trading, I plan to stay long, as long as the 15 minute charts remain well-bid.
If price can't hold the open, be disciplined!
Have a great day and safe weekend!
Pete
