Warren Buffet is Selling – Should you? 6-8-20 | OXY + CHK Exploded Higher
It seems many traders are angry (greedy?) and yet Warren Buffet is selling. Even the President said Buffet made a mistake.
Last weeks message, "Why didn't you earn more...?" resonated with many people in the community.
In life and especially in trading, if you're not getting the results you want, it's time to try something different.
It means there's a gap between where you are and what you need to learn.
Many people stay the same. Their lives are like groundhog day.
Too many traders do the same. Seeking profits using methods that failed to produce results.
If you look at the charts and a knot forms in your stomach, today's video will help.
I often discuss the path from chart reader, to tape reader to trader.
This trading lesson focuses on stage one. Chart reading.
We discuss multiple time frame analysis and how it sets up confident trade ideas.
We give examples and the exact charts to watch, for both swing trades and day trades.
If you have any questions, leave a comment below the video.
Trading Game Plan 6-8-20
Watch: Best Stock Picks Today
Last week's stock market produced amazing gains. This week I'm expecting a pause and some profit-taking.
OXY stock (Occidental Petroleum) and CHK stock (Chesapeake Energy) exploded and continue trading higher this morning, but like the airline stocks last Friday, I'd be trailing my profits, not looking to add more.If you like cash flow, ring the register.
Slack stock (WORK) and Zoom stock (ZM) saw buyers step away after the new reality for "stay at home stocks" became obvious. More people are going outside and back to work.
Each stock has one more entry long before we declare a change of trend.
BA Stock (Boeing) traded higher this morning and into Friday's highs. I only like it long on a pull back to the 195 area.
If it can't stay above Friday's high this morning, a tighter trailing stop loss would be the play.
Other trades for the day include: ADSK, SWKS, CVNA PAAS and AKAM.
Have a great day.
Pete
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