The price action on Friday struggled then held Thursdays low, and we now have a triple test bottom with the past four candles suggesting the sellers have control. With price action below the daily 50-SMA and weekly 200-SMA on top of the three failed highs, I would have to say the market is not looking so good. Short term relief rallies are normal just not likely to produce large bullish moves until price crosses levels. Three important key levels are $270.64, $277.25. 281.25.
Friday I went to all-cash taking a pro-active stance on protecting the 362% we are up this year on the “Road To WealthAccount.” Going forward into the end of the year I will be trading like I am walking on thin lake ice. The game is to create wealth not pick
Today’s Trade-Idea Thoughts
We have not increased our “Road To Wealth Account” simple by trading willy-nilly and don’t intend to start today. Today we will talk about trades in the trading room when we see the attitude of the market and not before.
362% November Statement
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