Disregarding the final 30 minutes of trading the market appeared to be consolidating its most recent gains quite nicely. Buyers stepped up their buying activities into the close giving a bullish tint to the day. Volume was running low throughout the day, but with prices holding just under positive territory it appeared sellers didn’t have enough ammo to shut down stocks today. Taking a step back we did see a lower volume move today with late day buying, not much you can complain about if you are long the right stocks.
Today is exactly what I was looking for, in our chat last evening I was asking for a quiet day. Now, end of the day threw a monkey wrench into the deal, but I am not going to discount the majority of the day. Seeing sellers dry up was a nice sign as well as some leading institutional BIG BOY stocks lead the market higher today. I can not complain about the action at all today.
I’d love to be able to write a novel about the market action today. It would be quite repetitive and bore you to tears. The main point here is:
- Stocks on consolidated gains for the majority the day and found buying interest late in the day
- Leading growth stocks lead the market
- Selling volume dried up
There are other anecdotal evidence that suggests we move higher, but I’ve covered these in prior commentary’s. The bottom line here is to keep things simple. You tackle the leaders and get on board with them. Cut your losses short as you may be wrong and you do not want those losses to take down your portfolio.
Here at Big Wave Trading we continue to find these stocks and continue to reap the rewards. If you haven’t already or on the fence go ahead and sign up for one of our monthly subscription packages and get 25% off the monthly price. The offer ends this Friday, so don’t wait till the last second.
Remember, always keep positive and continue to strive to be better.
