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From the Trading Desk
The Big Wave Trading Portfolio remains under a BUY signal and currently has zero issues weighing on it presently. On the short-term the market is very extended in price compared to trailing key moving averages. Logic dictates that a natural pullback to some form of support levels (fibonacci, price lows, or a moving average) should [...]
The morning did not get off to a great start with disappointing economic data hitting the market. Weak jobless claims and a Philadelphia Fed manufacturing index showed how disappointing the economy continues to be. By mid-day it appeared the market simply didn’t care too much about the weak economic data. Just as new highs were [...]
TSLA move this morning certainly gives longs a place to take profits off the table. The stock can continue to push higher, but this morning’s pop is a great place to book gains. Solid run.
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Big Wave Trading Portfolio Update And Top Current Holdings
“The less I cared about whether or not I was wrong, the clearer things became, making it much easier to move in and out of positions, cutting my losses short to make myself mentally available to take the next opportunity.” – Mark Douglas “Obviously you don’t want to overhaul a program in response to one [...]