August 11, 2008
Solid day for the indices – bulls showed what they haven’t showed in a long time and that is the desire to buy the dip. Tech is leading the way as the chip sector showed incredible strength. In the short-term the techncal picture is looking solid and continues to build on its recent gains – a very bullish sign. We managed to see our Amazon (AMZN) position soar today over 10% as our initial entry price last week of $77.87/share has proved to be very profitable.
Here’s the Nasdaq and S&P charts…
Welcome to Swing Trading the Stock Market Podcast!
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Watching the dollars rise and fall in your trading account can turn a well-planned swing trade into an emotional, deeply personal decision. In this episode, I explain why focusing on price action, percentage returns, and R-multiples can help you avoid cutting winners early, holding losers too long, and abandoning your trading plan.
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