Patience is the key for traders the last week…
Stock Market Morning Prep Video | 3.24.15
Are the markets struggling at the highs or pausing for a new breakout?
Traders need to be patient and not get chopped up during this indecision. For now we are in a stock pickers market. (Meaning the market is not adding extra conviction to your trade)
It can be tempting to nibble on the short side but it is the wrong play. The weekly charts are still too strong. Until that scenario changes long is the correct idea, but remember your risk/reward needs to make sense to allocate money.
We are in one of those areas where long ideas are break-even scenarios and short is overdue but not a good trade.