Go where the oil is

BDCO: Blue Dolphin Energy

COG: Cabot Oil and Gas

DBLE: Double eagle petroleum

EOG: Eog Resources

MXC: Mexco Energy Copr

PDO: Pyramid Oil

ROYL: Royale Energy

An external event has resulted in market undergoing a rapid pullback in last couple of days.

Prior to the pullback the market was in extreme bullish breadth phase. Secondary indicators were at extreme. Absent the geo political troubles the market might have taken a different route. Extremely positive breadth typically results in blowout kind of moves with number of stocks going in to extreme bullish phase and many stocks making spectacular 2to 5 day move. That process got aborted due to the Libya trouble.

At this stage we have seen only one 300 plus day to the downside. A real correction will have more selling. Absent that this market phase might result in yet another shakeout move.

A clear sector trend has emerged due to the Libya trouble. The energy sector has found a bid as oil prices have spiked sharply. The oil and gas stock move based on underlying price of oil and they will continue to move as long as oil prices remain elevated. As always during such sector move some of the most speculative small cap stocks will make bigger moves than the well established player. You saw lot of those moves yesterday.

While it might be tempting to get excessively bearish at this stage, it would be prudent to keep your mind open to all scenarios. Such geo political events can often resolve quickly.

This is also the time to start looking at which stocks are holding up comparatively well and which are having orderly pullback/correction. They will be the first to lead in any rally phase. Many of the recent EP will have such pullbacks and in some weeks start their rally.

Such correction phases are ideal opportunities for mean reversion traders and support traders. Those kind of methods should work well in current phase. Especially the RSI2 method.

Overall it will be a volatile market. And the focus should be on sector that is working.

Best site to learn to trade

If you are serious about your trading and want to build an enduring edge, the Stockbee Member site might help you.

Members tell me they have tried a lot of things before coming to my site, and it has offered them the most extensive and detailed methods to swing and position trade. Members range from very experienced traders to novices.

No advertising, no hard marketing, no promotions, no free offers, no affiliate marketing, no incentive to other bloggers to promote the site, no constant tweets self-promoting the site, and no tall claims. Every member comes through word-of-mouth recommendations from existing members.

As a member, you will learn the basics of swing trading, momentum investing, growth investing, and risk management. You will learn about Stockbee Momentum Burst breakouts, Stockbee Trend Intensity Breakouts, Stockbee Episodic Pivots Breakouts, Stockbee Lemonade Strategy for 401k, and many other member-shared methods.

You will learn how to set up your own scans, how to select the right kind of stocks, how to set up stops, when to enter, when to exit, how much to risk, how to track your trades, and all other details about trading.

You will learn about developing your own methods and not relying on others for trade ideas. Develop your own edge. Once you develop your own method, you will have a lifelong profitable method.

The site gives you an opportunity to interact with some of the most successful traders and learn from them about their trading methods. It is a vibrant community with members from different backgrounds and experiences willing to help each other. Members have shared their methods, scans, software, backtests, and market insights.

Every day, the emphasis is on continuous learning and upgrading of market knowledge and setup knowledge. The members range from hedge fund employees, financial advisers, active swing traders, investors, and new traders.

You will see that many trading bloggers have been using my market timing methods, scans, and chart templates. They have developed their own methods based on my methods.

Almost every member comes through a recommendation of some of the leading trading bloggers and trading sites. 80% or more members continue to be members for more than 3 years. Most tell me that they stay on because every day they learn so much from the members' site.

If you are looking to develop your own trading strategy, the membership site might be for you. You have to be willing to put in the effort to build your own method. There are no silver bullets offered on the members' site. Every method, every scan, every nuance is detailed, and all possible help is offered to design your own method.

404

Recent Articles