Daily Bars For Monday or later this week for Continuation. All 3 had nice breakout moves. See below
Movie of the Week: Moneyball. Based on a true story and a personal favorite. Next Week movie..so many to pick from...Rounders or Without Limits
True story about a baseball general manager with a small budget who used an unorthodox system to mold his team into a winner. I can tell you from experience no business with an entrenched model likes change. In my other field I have twice brought in a business philosophy, taught to me and redefined, into a struggling outdated business model and received the heavy push back similar to this movie. Employees feel threaten, you occur heavy backlash, you piss people off, and like in the trailer your drive home saying what hell am I doing as your stress level goes up .... but if you can ride out the wrath - and the bottom line increases - you only need look at the naysayers and whisper to yourself when you see them - who is your daddy now - when they are trying to figure out how the hell your payroll is down, revenue is up and you have no employee turnover. I actually did a presentation and labeled it Moneyball to a room full of critics. That was a fun day!
Like in stocks and business you look for value. Talent that no one recognizes. Within Day trading the same premise. Looking for a pullback on a strong stock that is showing less volatility, the narrow range candlestick, and then ride the pop.
Will Put up a few scenes this week from the movie from the movie and charts.
* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money. Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.