One setup and one day at a time | stockbee


One setup and one day at a time

The market continues to move higher. Yesterday there was a bit of fade after 2:30. The sudden reversal on many momentum stocks is in line with rotational market.

Most of the momentum leaders are fading after breakouts. Some are already in correction mode. Some are down 20% plus in few weeks. A narrower set of stocks are leading the advance.

In this environment you have to look at specific setups and keep profit objective in line with market conditions.

As of now breakout continue to work and also shorts are having follow through. No follow through on shorts was a theme for many months, that has clearly changed as number of stocks pullback.

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