A Much More Sustainable Equity Market Advance
Goldman Sachs released a great chart in October showing S&P 500 earnings per share against the index's prices. The chart tells a ver...
Goldman Sachs released a great chart in October showing S&P 500 earnings per share against the index's prices. The chart tells a ver...
2 comments:
B - I like your Visa commentary. I am considering taking the trade as a 'swing'. Maybe just set a stop at $79, and letting it 'ride' to see if it can eclipse the $85.00 area of resistance of late.
However, I have 1 question. Do you think I should approach this trade with caution considering the overall downtrend ( as mentioned in your Sunday post) in the general market? Or, do you think some stocks will be unaffected?
Thanks,
Sonny
Sonny-
I appreciate your comment as it is my one reservation along with the head and shoulders reversal pattern potentially leading to a gap fill in MA.
But, I feel I am protecting myself by not entering the trade until it triggers through $85. If the market is going to drag V down with it, the trade should not trigger and I'll never get involved. I will also obey my stop regardless of my emotions and take a $6 loss if the move fails.
Also, as we have seen with the energy and agriculture stocks, some stocks can go higher even in declining markets. V and MA have not participated in the declines either and while I'm hesitant about the market, I have to trust the pattern in the individual stock if it triggers. Then, if the market finds a bottom, V should really run.
We shall see, thank you for the comment.
Brandon
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