FDO gapped down and then made a sharp downmove on the open. I caught some of the downmove with a Momentum Trade. But then the momentum short was over and I had a decision. Do I look to trade $FDO for a bounce or for a continuation move? I chose the former and will explain w1hy.
The market has been strong of late. Even before Congress passed its bill averting the Fiscal Cliff the market has shown great signs of strength. When we are in a strong market stocks are more likely to bounce. When we are in a strong market REAL STOCKS are more likely to bounce. FDO is a real company, a real stock. Also when stocks make sharp moves to the downside right off the open, steep downmoves, Read more [...]
FDO gapped down and then made a sharp downmove on the open. I caught some of the downmove with a Momentum Trade. But then the momentum short was over and I had a decision. Do I look to trade $FDO for a bounce or for a continuation move? I chose the former and will explain w1hy.
The market has been strong of late. Even before Congress passed its bill averting the Fiscal Cliff the market has shown great signs of strength. When we are in a strong market stocks are more likely to bounce. When we are in a strong market REAL STOCKS are more likely to bounce. FDO is a real company, a real stock. Also when stocks make sharp moves to the downside right off the open, steep downmoves, Read more [...]