I was sitting on our trading desk looking at SPY this Friday. I felt a very strange sense of déjà vu that it was 1998, the year I was relative strength trading semi-conductor stocks, and MSFT, INTL, DELL. This was before the Internet Boom but when these sectors were red hot. At 3PM we would add to our strongest-acting stocks and wait for institutional buying to mark them higher, and lighten up at the close. I will call this the 3pm Bull Basket trading strategy. And you have to have this as a part of your PlayBook in a super strong market (like this one?).
The market was near its intraday and longer-term highs. The intraday pullbacks had been light. We were clearly in an uptrend since Read more [...]
I was sitting on our trading desk looking at SPY this Friday. I felt a very strange sense of déjà vu that it was 1998, the year I was relative strength trading semi-conductor stocks, and MSFT, INTL, DELL. This was before the Internet Boom but when these sectors were red hot. At 3PM we would add to our strongest-acting stocks and wait for institutional buying to mark them higher, and lighten up at the close. I will call this the 3pm Bull Basket trading strategy. And you have to have this as a part of your PlayBook in a super strong market (like this one?).
The market was near its intraday and longer-term highs. The intraday pullbacks had been light. We were clearly in an uptrend since Read more [...]