Hey friend,
Markets continue to dip as they digest the Fed’s post-meeting comments and the spike in Treasury yields.
Again, how it all plays out next week could determine where the next trend is.
The Daily Direction
Note: All indexes closed significantly lower yesterday – with many of them even “gapping down”. No change in any index directions, however.
The Daily Nugget
The two most dangerous words in trading are “overbought” and “oversold”.
You’ve heard these words before…
The market is “overbought”…
This stock is “oversold”…
The implication being that if it’s overbought you should sell it – and if it’s oversold you should buy it.
But this is dangerous.
Just because a stock is overbought doesn’t mean it can’t keep rising…
And just because a stock is oversold doesn’t mean it won’t keep falling.
When you put too much weight on a stock being overbought or oversold – you end up fighting the trend…
And that usually doesn’t end well.
That’s why Ross Givens’ strategies are all about trading with the trend…
Which is what has enabled them to pick up one fast double-digit and even triple-digit gain after another this year.
So if you don’t already have a strategy that can allow you to profit from the market’s trend (regardless of whether it’s going up or down)…
Then make sure you click here to equip yourself with Ross’ flagship strategy for just a few dollars.
The Traders Agency Team
