However in a market which has rallied as much as this one we prefer to wait for a pull-back to support before entering instead of buying new highs.
Momentum trading is more active for us as one alert after another goes off. Support buying on the other hand means one has a lot more time on one's hand (sometimes the more difficult of the two) and has be patient and wait for the trade to pull-back to one's target entry point.
These are the type of set-ups we've had in the newsletter the last few weeks and the type of set-ups we will be looking for in the near future. As an additional note -- support buying lends itself more to swing-trading than day-trading and going forward we're going to have selections such as these as swing trades.
Deeply oversold stock in a bull market, falling into support, is often one of the most successful swing set-ups:
Arrow points to the buy point featured in the newsletter:
