Wednesday, December 23, 2009

Technically rewarding market

This is a perfectly benign market where stocks bounce where they should bounce and obey technical rules -- enjoy it and play it as hard as you can for however long it lasts.

Even though we're primarily day-traders our entries are based on daily charts. What we've been telling our day-trader subscriber base is to try at least holding partial positions as swings as the follow-through lately has been excellent.

Here's another example of a perfect bounce on support:

Here's another example of a perfect trading opportunity -- we "tweeted" on this when it happened on Monday:

GMCR buyers defend the 50 SMA

Close up -- awesome!

We're closing shop now for the week (holding long $GLD $AU $SLB $CNQ $APC $SPY). Happy holidays to all of you from the three of us at HCPG-- we'll see you next week.