Hubert Senters here.
Let’s take a look at TAP. All the indexes are down today, so obviously we’re going to pick a short. Now, if you are long check make sure you got protective stop-losses in there and you want to make sure that your thing is not going down more than the market’s going down
In this case scenario, this is a pick that we had on Tuesday as you can see this is this Thursday, that’s Wednesday and that’s Tuesday, Tuesday across below and that looks like a decent short according to our criteria. And you can see two more days of a down movement.
It does have a little support down here in the area of $72.98. I don’t think it’s going to hold. And then after that let’s see on a weekly chart where is this bad boy going to go next. So you do have a little bit of support.
Like I said out there in that area of $73-ish 50. And then after that it should drop down here to $65.
Mark Helweg will be doing a special webinar, Friday, March 23rd, 12PM EST, 3 Momentum Strategies that are working right now in the markets. Mark is my go to guy for systems and indicator development.
He’s one of the smartest guys you’ll meet in the industry. He’s going to walk you through 3 specific momentum trades that are working in the markets right now. I’ll hyperlink you to the page.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
