A solid session with small cap stocks pushing higher behind a swell of volume. Stocks were up across the board as earnings season continues to roll. Trump’s first 100 days continue to be a focus point for the media while we focus on price action. Many were short with Trump’s victory and short ahead of his inauguration and now we continue to push higher. We simply do not care and focus on the price action of our stocks and the overall market. While we would still like the number of bulls to fall and oscillators to improve today’s action speaks for itself. Now, we need continued positive action to build momentum and set new all-time highs in the market.
Often new traders tend to believe they know which direction the market is about to head into. Did we know we would get a day like this while we have been taking our long signals? No, most certainly not. What we do know is that if we obey our process sticking to a strict money management system we can have HUGE success in the market. We wish it were like the late 90s and 00s, but the gains we have no will do. Stop trying to guess which direction the market will head in and start following Big Wave Trading and ride large waves notching HUGE gains.
We continue to find gems in our chat room. Whether they are day trades, swing trades, or even end-of-day trend following trades we have some nice stocks setting up for big runs. A few need short periods of consolidation, but there are some good-looking stocks out there. Bias is something that will get you on the wrong side of the market. We are never bullish or bearish. Our focus is staying on the right side of the market. Price action has been telling us to say on the long side and we have. Tomorrow may be a different story. For now, we will stick with our longs and continue to stay disciplined with our position sizes and exits.
We hope you enjoyed the gains today as much as we did. Continue to grind and stick with Big Wave Trading.
