Hey friend,
Let’s find out the markets have been moving as we start a new trading week.
The Daily Direction
Note: A flat close to end the last trading week. No changes in any direction.
The Daily Nugget
“Stocks are the only thing that people are happy to buy when the price goes up.”
~Warren Buffett
Since Warren Buffett may be the world’s most notorious value investor, we can infer that he’s implying that being excited to buy rising stocks is a bad idea.
That may be true – if you’re a value investor who only buys stocks you’re willing to hold for years, if not decades.
But that’s not you.
You’re a trader looking to use disciplined and intelligent strategies to make a fast buck. And there’s absolutely nothing wrong with that.
But it also means that your strategies are necessarily driven from a long-term value investor like Buffett.
If you want to make quick profits, then in most cases, buying rising stocks is actually a fantastic idea.
Rising prices signal market support, that sellers are being forced out – and that a new crush of buyers could be about to rush in and send the stock breaking out to new heights.
Of course, not all rising price patterns are created equal.
You have to know what you’re looking for – how to spot the highest-percentage patterns.
Chief Trading Strategist Ross Givens explains everything here.
The Traders Agency Team
P.S. Want special trade prospects and potential market moves from Ross sent directly to your phone so you don’t miss out on anything? Text the word ross to 74121 now.
