Chop Chop Chop. That is what I have been calling for and the market has been doing just that. In that environment you never chase, you only fade the moves. It’s a very tricky environment to trade and for most of us traders, most all of the time, it is best just to stay out.

Thursday did represent a bit of a surprise to me. It turned out to be a trend day, and it featured some big reversals in the formerly weak semiconductor sector. The looks of a few charts do indicate good potential for further upside. If I were going to hold my nose and try to trade a further rally I would (without chasing gap ups) look to semiconductors, Unity Software and Unusual Machines as my long picks for short term upside.
Thanks,
Joe

Recent Comments