As some of you may know if you’re following me on social media, I’m currently out of the country on vacation. But just because I’m out of office, doesn’t mean the market’s stopped.
So I’ve included a special download for you to help you make money in these current market conditions — you can find the download at the bottom of this issue.
Also I wanted to take the time to talk about the balance of traveling and trading. You take the time out of your day to trade, turn it into a profession and a source of income, then you want to actually spend some of that hard earned cash… but the market doesn’t stop.
Well here’s something that may help with that…
My newest strategy, Phoenix.
Let’s take this from the top — normally, I prefer my full computer setup with six monitors and all my charts. When I’m on vacation, I cut it down to three (because like I said, just because I’m slowing down, doesn’t mean the market is).
But in this instance, I’m on a cruise, and the ship’s wifi won’t power my trading platform… period.
So what’s a trader to do?
Well the idea behind my recent strategy and indicator, Phoenix, can help.
If you remember, whenever the market pulls back, as it has been the last two days, the first thing you should do is look for Phoenix.
Now for me, as I’m unable to use my charts to actually look for any Phoenix stocks… I’ve improvised. I’ve been using CNBC and looking for signs of life in Boenig, Netflix, Microsoft, Apple, Amazon, and the cloud stocks.
Of course, in an ideal world… not on a ship… in the middle of the ocean… with no wifi, this is much simpler with charts. But, this’ll do for now.
Before market open today, the DOW was up 200 points — this is a great Phoenix flag.
Because after two down days, this is when Phoenix rises and shines.
What should you do then?
Watch those 15 and 30 minute charts, in the Phoenix Flyers (the cloud stocks, cyber security names) and the ‘Grandma Loves It’ stock list with my market leaders.
As for the ‘big picture’… if there are 8/21 moving average crosses on the major indexes and sectors, to the upside or downside, these are major triggers telling you the market as a whole is confirmed in either direction.
I’ve got to wrap it up here though, as I’m off to the beach in St. Lucia! Though my market analysis remains the same — after two days of a pullback, I’m bullish this market. I’ll change my opinion if we get the major signals on the big picture charts.
Until that happens… I’m going to keep buying this dip.