BaylorSpineGuy said:
Another small gap just above there around 410ish.
Despite these little bumps these past couple days, you are right. We are below significant moving averages and failure to reclaim them soon only seems to give the impression of more weakness.
I know some folks are going long on things and I get it. I too agree there are some 'oversold' names.
For me though….and it's just my 'system' or method…it's a trading environment only. I'll enter longs when there is a confirmation of reversals and EMA reclaims. I don't mind protecting cash and missing a few points to the upside should it happen.
I can't babysit at the moment and I don't like to just set stops and walk away unless it's trailing to the upside.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11