Looking ahead at short and long plays
Building your trading portfolio in a volatile market like this requires some steadfast tactics. Most importantly, you’ll need a couple of watchlists.
Some symbols are still bullish, but we now have bearish movement so we need to have two separate watchlists. Always keep in mind we don’t go back and forth going long and short with the same symbol…
Pick a side — bullish or bearish — with each symbol.
For example, let’s talk about the bearish corners of the market. What am I looking at?
The first place I’m going to point out is the telecommunications ETF. Symbols like AT&T, Verizon, Cisco, and Comcast. Take a look at the structure, GRaB candles, and the JT Multi Trend. This is the kind of ETF, and even some of the individual stocks within that we want to look at for shorts.
We have “sell the rip” and “buy the dip” opportunities going on. Be sure to check out this video to walk through the charts of what symbols I’m looking at going forward.
