The Calm Before The Storm
Despite the slow start on this Earth Day, there are lots of events on the short-term horizon. Facebook and Amazon are reporting this week. Latest GDP number will be out this Friday. And next Wed May 1st is FOMC announcement.
It's not easy to trade in this environment. $SPX and $COMPQ have been marching up since March 27, almost one month ago. That's a long time for a short-term signal to persist.
Market internals are not looking as rosy as price actions seem to be. We have discussed with our email readers the prudent things to do in a scenario like this, and what to do if you are long SPY SSO QQQ TQQQ IWM TNA.
Don't let the lull of this market lull you into being overly complacent. And don't let the lack of actions lead you to over-trade from boredom.
You only need to make a couple of trades per month with 3% to 5% gain in order to achieve 6% to 10% profit target every month. The operative words here are "every month". If you can achieve that kind of consistency, you can make a living as a trader.
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Here are the screenshots of our trades since March that yield 43.22% cashed-out profit so far.
Stay prudent and good luck trading!
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