Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does the damage to the pocket book and to the soul.
After a failed first hour rally, the Bears took over, and all three major indexes closed in the red. The SPX closed at 2143-in our 2170 and 2119 trading range.
When deciding on which new groups would be included in the Playbook 2016/17, I decided to add the US Coal Companies. Some gave me heat for including this group. I hope now they see why.
How do I play securities that have been beaten down? Simply set alerts for the following;
1. Price trades above resistance
One fact is for certain. If you don’t set alerts you will have a lower probability of catching breakouts/breakdowns.
I prefer to set alerts with my broker instead of my charting service.
Enjoy your evening,
David O. England
Plan your work, work your plan, and share your harvest! Philippians 2:3-4
This information is for Educational purposes only. It shall in no event be construed or interpreted as an offer or recommendation to buy or sell securities of any kind.
DAVID O. ENGLAND is the founder of the Eye on the Market-Training Academy and Associate Professor Emeritus of Finance. This column is presented for educational purposes only and not intended as financial advice.
If you have a question or comment, contact David England at firstname.lastname@example.org.
https://davidoengland.com/wp-content/uploads/2015/10/doe_logo_trans-with-tagline2015.png 0 0 David O. England https://davidoengland.com/wp-content/uploads/2015/10/doe_logo_trans-with-tagline2015.png David O. England2016-10-25 20:46:102016-10-25 22:35:24EOM Trading Tuesday: BTUUQ 10.25.16