What To Do In A Sloppy Market

Posted by Joe Duffy | Apr 11, 2024 | Joe Duffy's Trading Advantage | 0 |

It’s been a few days since I updated anything in this space. My thesis has been for the last month that it is a low probability to push the long side, and neither can I find much of anything I want to be short. Last time I mentioned UBER above 78 as a short candidate and it easily traded above that number before falling to 74.35 on Tuesday close. I am taking that gain.

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The erosion the last couple of weeks has caused some stocks to develop what I normally consider as buy set ups …however these are abnormal market conditions and I am not taking any longs until we get enough of a pullback to “reset” my strategies. In the last year I have done 40 trades and 34 winners for TZT subscribers. Only two of those trades were in the last 10 weeks. I still strongly suspect that my patience has outperformed the vast majority in this sloppy environment. Patience pays.

Thanks,

Joe

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Joe Duffy

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