Today might have been a technical distribution day but there was definitely nothing scary about today. The market came no where close to finishing near the lows and the rally that came around 1pm to the EOD helped give the indexes a nice tail which actually suggest buyers stepped in and bought the bargains that the market offered out there.
If that was the case or was not, it doesn’t matter. What matters is how individual stocks did and as a whole my long scans were very active and my personal holdings held up well. I did have some partial sells and one full sell that was a partial sell the day before. But I had a new long and another long give an “add” signal. So overall, with the intraday recovery and my longs holding up well, it was a pretty solid day.
Let the top callers continue to do what they do best: not make money, sound “smart,” and help ensure that the rally continues. We will continue to just ride the trend higher listening to market facts instead of market rats that believe their opinions are facts. The fact is the market continues to rally and many stocks are out there making many trend followers a lot of money.
Now, if you don’t know how to spot tops and sell then trend following really will not help you out per se as you will not be able to hold on to the big gains. Here at BWT, however, we know how to spot tops/reversals based on 130 years of historical facts of price and volume. We will hit the middle and take it. We will never sell the top and buy the bottom. We will just continue to get that huge meaty portion in the middle. The “intelligent mouths” on wall street that call tops and bottoms never put their own money on the line like real traders do. We are real traders here. I don’t know what else to say. Full-time trader; no-time BSer.
