Business Magazine

Mid-Day Update

Posted on the 07 November 2011 by Phil's Stock World @philstockworld
And today All About Trends gets a big payday! Just a quick note to express appreciation for all the guidance you’ve provided for me the past year I’ve been a member. The most valuable asset I’ve gained from you is experience in reading charts and patterns and the constant reminders about practicing patience, controlling emotions. You’ve been a mentor more or less this past year and I sincerely appreciate the daily newsletter you provide. Looking forward to more good trades in the coming weeks! Sincerely, BenThanks Ben for the payday that money just can’t buy.  Over the weekend we said: Don’t rule out that ABC down to the 50 day average just yet. Keep in mind if we do sell off to the 50 day or even the 50% Fibonacci level by the time the markets get there (if at all) the full stoh’s ought to be right back into the oversold zone. And from the looks of today’s action that’s what we MAY be starting to get here. Lot of pops and drops and shake and bakes on the short term one minute charts as you’ll see. Its also just another reason we tend to let the opening dust settle before we jump to any conclusions.  Good thing too as CELG popped over the Pink POH channel as shown only to turn tail shortly there after.  Mid-Day Update   Mid-Day Update     RAX is a good example of what happens when you buy a breakout in a stock AFTER its made a run with no consolidations along the way. Make note of that next time you look for breakouts either in micro time or even daily time frequencies. Then there is AMZN today. Mid-Day Update  Speaking of one minute charts Mid-Day Update  Mid-Day Update On to the daily indexes:   Mid-Day Update  Mid-Day Update    Current Game Plan So here is the bottom line through year end. We buy weakness and we’ll use the 50-day average to define our risk once in a position.  We’ll also want to try to be investors (longer term) and hang on to some through the end of year or thereabouts (now if only we could get

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