Heck of a day. There was some power behind these moves today. The volume was less, yes, but it was almost as much as Wednesday and today was a half day. I think we consolidate and continue higher. There is no reason to buy now, we are extended. I tried a short intraday and ended up losing but is that is alright, the bulls proved to me that this market is alot stronger than I had thought.
As for Apple we closed near the highs of the day and it would be silly to say we don't go higher from here. I think another day or two of consolidation and we could go again.
Google is not as strong as Apple here so if I had to choose I would pick Apple to trade, not Google. I think again, another day or two of consolidation in the market and this once could also go.
As for the market leaders, $XLF today had another potent move higher and broke the 50 SMA. I think (as I have said so many times before) a day to three days of healthy tight consolidation and this one is a buy.
I came into the day a little bearishly inclined but after such a potent move, I just can't be any longer. I want to see 1 - 3 days of consolidation in the indices and then I will be jumping in long. I think $FB will make a push to fill the gap next week, but I will wait to buy until Tuesday.
If you lost money today (like me), just try to shake it off and learn from it. I know it is tough to overcome but as long as we learn from our mistakes we can/will be successful traders.
As for Apple we closed near the highs of the day and it would be silly to say we don't go higher from here. I think another day or two of consolidation and we could go again.
Google is not as strong as Apple here so if I had to choose I would pick Apple to trade, not Google. I think again, another day or two of consolidation in the market and this once could also go.
As for the market leaders, $XLF today had another potent move higher and broke the 50 SMA. I think (as I have said so many times before) a day to three days of healthy tight consolidation and this one is a buy.
I came into the day a little bearishly inclined but after such a potent move, I just can't be any longer. I want to see 1 - 3 days of consolidation in the indices and then I will be jumping in long. I think $FB will make a push to fill the gap next week, but I will wait to buy until Tuesday.
If you lost money today (like me), just try to shake it off and learn from it. I know it is tough to overcome but as long as we learn from our mistakes we can/will be successful traders.
