Stock Market Seeks Fresh Buying to Stimulate Hope
Welcome to today's Smart Money Alerts for Wednesday March 11, 2020.
After a massive afternoon rally, active stock traders are hoping the buying was more than short-covering. Futures indicate a lower open.
In today's episode of Stocks for Breakfast I discuss the correct levels to looking for new entries.
We also review how to use the VIX to improve your trading strategy.
Managing winning trades begins BEFORE the trade by knowing how to set the correct expectations for profits. Today I show trade setups in the SPY ETF and AAPL.
If you have questions please fee free to leave a comment below the video or send me an email: Pete Renzulli: [email protected]
Although we are looking for bullish price action despite an expected lower open I am tracking ROKU. Despite yesterday's massive buying the stock remains stagnant and closed below the open yesterday.
The stock price continues to hover near major support. If the market declines this will be one of the first stocks for me to look for a new short sale entry (below the support).
Have a great day.
Pete
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