Most major indexes continue to struggle to get back above the 20 and 50 day MA's here, which is acting as some resistance now. As May approaches, the classic "sell in may and go away" is upon us and finding great long stock picks will be harder to find. My strategy is to get defensive soon, moving all into cash, cash equivalents and defensive names in the coming weeks. We have had a very good start to this year and I believe traders and investors will soon be taking profits. In the meantime, we are in earnings season and this will give us a good idea of market sentiment going forward.
Here is a stocklist of some of the stocks I have been holding that have been doing well and a list of possible breakout stocks I'm looking to buy on strength.
Remember in this type of choppy market, lock in gains quickly, move stops up to protect your profits. and respect your stops!!
Trade well and trade with the trend!!
Here is a stocklist of some of the stocks I have been holding that have been doing well and a list of possible breakout stocks I'm looking to buy on strength.
Remember in this type of choppy market, lock in gains quickly, move stops up to protect your profits. and respect your stops!!
Trade well and trade with the trend!!
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