|Day Low/High||444.54 / 463.39|
|52 Wk Low/High||136.00 / 510.00|
While not unexpected, today's consolidation is making trading more difficult.
Why I like this China-based wealth management firm.
Friday morning bounce shows little trust as North Korea issue remains unsettled.
You don't need to nail the exact top in order to navigate a market correction; rather, you need to react as the price action changes.
Momentum shows in China-related shares, technology and FAANG stocks.
There's no advantage in trying to predict the next move right now.
The powerful moves in the social media giant and Nasdaq 100 come as the broader market is quite lethargic, which is reason for caution.
The inconsistency makes stock picking difficult, but there are buying opportunities because of it.
But I'm managing positions carefully and don't trust the upside momentum very much.
There is market confidence, but it's limited.
We had a technical breakdown on Tuesday, an energetic recovery on Wednesday and now things are breaking down again.
It's hard to be too negative considering the speculative action today.
There is no direct correlation between news events and market movement.
My game plan is to target a few of the big-cap momentum names that I feel have the best growth and valuation.
When there is no real worry, stocks can keep on running, but the rampage in the Nasdaq 100 is not unlike frothy action of the past.
The normal chart patterns don't operate like they have in the past.
Good trading requires a combination of quick action and patience.
Historically, the day before a holiday often has a positive bias, but the algos have killed emotion.
Here's what I'm trading today amid the 'flat with a positive tone' action.
Action runs counter to pattern, leaving market players wondering what to do.