It was really a wild week to end the second quarter of 2012. Monday there were problems in Europe, as there have been for the past couple of years. Those problems apparently went away by two o’clock as the market recaptured all of its loss.
Tuesday the economic news from the US was disturbing and the market tried to take out the lows from Monday. When the test held we were off to the races and had a very nice day. Wednesday the world was safe one again and the DJIA had a nice triple digit gain.
Thursday, the day started surly and when the news hit that “Obama Care” was going to be law down we went again to try and test the “Double bottom” from earlier in the week. Once again the lows held and as rumors of positive news from Europe hit the street we were able to rally back to “sharply unchanged”
Friday was a monster day in both stocks and commodities as Germany confirmed that it was going to support the “weak sisters” and almost all major indexes were able to close above near term support.
So the big question is whether the rally on Friday was “window dressing” for the gigantic reporting mutual funds or was it the start of a summer rally? I think that the next two weeks will probably tell the tale.
It is going to take discipline to win in the coming market. History shows us that it is very difficult to predict where the market is heading, but it is possible to react.
Reaction to the price action is what I teach my students. It is not difficult to make more money in the market if you know what to look for, and not only that, using my method it is simple. My students don’t take much more time each day to review their positions than it takes to watch sports and weather on TV.
I have worked with hundreds of students to learn how to be more successful trading, and I can do the same for you. To reach me, and have me tutor you one on one, you can contact one of my financial consultants by clicking here:
Keep those stops tight.
Todd “Bubba” Horwitz
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