Home > Lessons from the trading floor > An Apple a day should be enough

An Apple a day should be enough

Today’s market has been a continuation of the buy order flow we have been seeing since the lows of March. We continue to make 52week highs in the markets as well as plenty of stocks in the Dow Jones, these highs are fuel that feeds on itself. Yes, today’s 52week highs are mainly due to the easy comparisons vs. last years levels, but they are nonetheless showing that the markets continue to have buy order flow. The only aspect of the market that technically may not be very positive is the fact that we are making higher highs on lower than average volume. As far as I am concerned as an intra day trader and a swing trader, I will continue to trade in line with the market’s underlying strength – and for now that is on the long side. Last week Thursday and Friday action confirmed that, we opened on the lows just to move higher towards the end of the day.

Plenty of Earnings are do this week, we just had AAPL and TXN report better than expected earnings after hours on Monday, and before the open tomorrow we will continue to get reports. For the most part, companies are beating the bottom line as well as the Revenue line. We will continue to monitor volume as the market deals with these levels as well as all the earnings report. Today Keystone traders took advantage of the nice setups CAT KO FCX DIS MS had for us in the morning session, we continue to trade aggressively stocks that have higher probability set ups, and stay away from mediocre set ups – or even worse trading against the trend in the stocks or the market.

If only our entire 401k was linked to AAPL we would all be fine.

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