There was not a single stock breaking out of a sound base or bouncing off the 50 DMA with green to max green BOP and strong volume. Therefore with the market not in a strong uptrend on strong volume and with the lack of great stocks setting up out there I want to remind everyone of a quote by Gerald Loeb:
Profits can be made safely ONLY when the opportunity is available and NOT just because they happen to be desired or needed …Willingness and ability to hold funds UNINVESTED while WAITING for real opportunities is a key to success in the battle for invesment survival.â€â€“Gerald Loeb
Until the market turns up, we have a follow-through day, and some HOT! charts start to selloff there is absolutely nothing to do. But during this time, if you are a gold/platinum member you can go to the forums and watch all the videos I have been posting that will teach you how to become a better trader. Watch today’s market wrap and watch the two newest videos that I have posted today. One is a “market wrap” video for Monday’s trading session and the other one is a video on spotting another climax top in winning stocks that are making 100% plus runs. Enjoy the videos.
great quote!