Today was an inside day after yesterday’s market break. \u00a0Statistically this was the most probable outcome. \u00a0The price action for the bulls today was terrific. \u00a0Again. \u00a0I have no evidence that we are heading down from the price action of late no matter what the\u00a0proselytize\u00a0via the blogosphere and traditional media. \u00a0And so what am I thinking about to prepare for tomorrow?<\/p>\n
Simple. \u00a0What do I buy and where if SPY holds above 114.40? \u00a0 What do I buy and where if SPY is holding above 114 on the open tomorrow or even 113.80 or 113.60?<\/p>\n
I love the support I saw in AAPL 282.75ish and CAT 76.15ish and AMZN 149.50ish and BIDU 90.75ish and SPY 113.80. \u00a0This is not a market to\u00a0over think\u00a0if you are a short term or momentum trader. \u00a0Buy pullbacks. \u00a0Buy the best stocks. \u00a0Buy at good prices and hold for\u00a0substantial\u00a0upmoves.<\/p>\n
And let me be clear, I am not predicting that we trade higher from here. \u00a0I am teaching that as a trader it is our job to do the right thing. And in this market that is to buy strong stocks into pullbacks until the break from yesterday is violated.<\/p>\n
Go prepare for this market for tomorrow.<\/p>\n","protected":false},"excerpt":{"rendered":"