Dave Landry is principal of Sentive Trading, a money management firm, and a
principal of Harvest Capital Management. Mr. Landry is the author of two top
selling books,
Dave Landry's 10 Best Swing Trader Patterns And Strategies and
Dave Landry On Swing Trading.
If you would like a free trial to Dave's Nightly Swing Trading Alerts Report
click here or call
888-484-8220 ext.
On Tuesday, the Nasdaq started weaker but managed to reverse to close well.
Ditto for the Ps:
So What Do We Do? NOTE: now would be a good
time to pour yourself a beer and have a sip every time I say
"pullback." As a pullback player, there's really nothing to do
except manage existing positions and wait for a pullback before adding new ones.
How do I know the market will pull back? Trust me. It will. In fact, I'm
starting to receive emails asking me what to do if the market never pulls back.
I'm also seeing a few "I couldn't wait so I just jumped in" and I'm
sure I'll see some more savvy players tell me "I got tired of waiting for a
pullback so I started buying on intra-day pullbacks." These emails usually
start arriving when a correction is imminent. Therefore, sit tight, I'm sure the
market will pull back soon.
No setups tonight (Tuesday). Remain patient. On a pullback we will likely see
a plethora of setups.
FYI
It's about that time again: On Wednesday at 11:00 A.M. EST, I will be doing
my weekly interactive presentation. So far, I've got a great show planned
(if I say so myself). I will be discussing using short-term patterns for
longer-term positions, what to do with a lackluster stock, protective stops
etc---essentially the same stuff I cover every week. As usual, admission is free
but limited by the software. Email me if you need instructions to join (the same each
week) or if you need a free primer on swing trading.
Best of luck with your trading on Wednesday!
Dave Landry
dave@davelandry.com
P.S. Reminder: Protective stops on every trade!
P.P.S. If you would like a free
trial to my trading service,
click
here.
