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A farmer has to take advantage of the opportunity to make hay when the sun shines. If he has other things to do, they'll have to wait for a rainy day. He cannot make hay on a rainy day. A trader or investor has to invest when the 'set ups' are ready. If the low risk set ups have presented themselves, and he or she decided to pursue something else for a while, by the time they return, the opportunity may be gone.
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With that in mind, lets make some Hay today.
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WTIC - Think about this. Last week I pointed out that OIL would move higher, but it is in a resistance area. It could struggle a bit. There is good news with this...
Read MoreReady for what? For one thing, we are at another Fed Wednesday. Yes, that's right, the latest Fed Decision on interest rates is released today, and usually we have to get ready for any possible volatility. This time I dont expect much in the way of a surprise there, but we may want to start getting ready for the trades that the charts are setting up for.
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On April 20th I posted this chart of Oil. I've been bullish on Oil since the Feb Lows, and it still wanted to go higher. There is a resistance area in blue, but Oil looks like it wants to move to at least the top of that area for now. I listed many Energy / Oil companies that were set up bullishly.
Last Thursday I showed how Oil would have to work its way through resistance, but was still going higher. You can see last Fridays report for a list of Oil/ Energy stocks that were setting up bullishly.
Read MoreWhenever we as traders get really really comfortable with our trades and trading, I think it is always a good idea to go back and shake things up a bit, just to keep us on our toes. Since not a lot has changed on the charts from the weekend report through Mondays trading day - I wanted to focus on trading and 'trade set ups'.
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