Trade To Close

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When to Freak Out About a Chart and When Not To

Mark asked me on air yesterday what levels I'm watching. Everybody asks that. What's your number, where's support, what's the line. And I get it, because a number feels like a plan. But I don't really look at levels, and I told him that on live TV. I look at where we are in the chart. Not what price we're at, where we are. That's the difference between a trader who panics every time the market dips and a trader who knows which dips matter. There's one question I ask about any chart before I decide whether to worry, and it isn't a price. It's the reason I didn't panic on Monday and the reason I'm not chasing this week, and once you have it, you stop freaking out on the days you shouldn't and start paying attention on the days you should. Here's the question. Where is price sitting

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(Quick Trade Idea) the Breakout I Told You to Wait for Just Happened

Two weeks ago I told you there was one chart that had to take out its high before I'd trust this market. It did, and then some… It's at all-time highs, I'm so excited, and I went long with my members last week and we rode this thing straight to profit town. The writing was on the wall. The chart was coiling in a pattern I love, the first crack came Thursday, then Friday's jobs report gave us the catalyst and we got a blue sky breakout. Monday followed through and it gapped again today. That's momentum in the bulls' control, and I wanted my people to feel what it's like to be part of an all-time high instead of watching it from the outside. So now, what's next? I pulled the levels, I've got the one we're holding above, and I've got a target. Rock On, Voz  

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(2-Min Video) A Rare Buy-and-Hold Call From a Day Trader

You guys know I'm in and out by the close almost every day. So when I record a video about a stock I want you to buy and hold, pay attention, because I don't do it often. This is a company you used today without thinking about it, and its chart has spent five months doing something that sounds bad and isn't. The pattern it's in has a scary name. Most people see the name and sell. I see what's underneath it and I'm like, this thing is coiling to explode. Three of my moving averages are sitting right on top of each other under the price, and that's the floor. I don't see it going lower. I've got a measured target and a timeframe, and I gave it a grade I almost never give. I put it all in a two-minute video, where I think it goes and why

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