Perfect Follow-Through From Last Night’s Video

Welcome back, everyone! What an exciting Wednesday. This goes back to what we shared on Monday during that special broadcast. People were asking what I thought about the week as well as thoughts and ideas. A lot of it I jokingly but also seriously said that when my mom starts asking me about the market, I’m going to go ahead and worry. But also this morning “Stock Market Surge” was featured on Fox and Friends. That’s not something that happens on a normal basis. All of a sudden people are paying attention to the markets and sure enough we have some people say that’s a top and there’s distribution taking place. At the same time, we have plenty of people who are very bullish. So, what’s happening is we came down to the same levels and it gobbled us back up. The plunge protection teams are in full mode to say the least. The way to play this from my perspective is if we’re down below the speed lines, you heard me say, I’ll be looking for shorts. I focused on shorts when the other markets started to get weak.

 

We did have a really nice recovery. I expected that the first time around but I didn’t expect quite this type of recovery the second time around. It just shows that we’re hitting major support levels. Great. The way I’m going to play this is armed with the fact that we see these clearly defined support levels and we see the resistance levels above, is I’m going to go with the strategy for the last couple of days. If I’m below the speed lines, I’m going to look for the next short opportunity. If I’m above the speed lines, that could bode very well for longside trades. I could in the short-term focus on longside trades if we’re above the speed lines. You’re hearing me say it over and over again a lot. There’s such a momentum-based strategy identifying where’s that market energy. If we’re below the speed lines, that’s a negative. If we’re above the speed lines, I want to continue to focus on longs. Especially in the earnings season we’re in. It’s a great way on a short-term basis to get a lot done, walk away, close up the position and sleep like a baby and revisit what the next day offers. It’s a little more stressful right now for some of our swing traders who are getting caught in these whipsaws.

 

Also, don’t forget about going to www.wealth365.com/bbt. There is a lot of information there. It’s really exciting to have so many different people involved. One question that keeps coming up is do we have to go to a certain place physically. No. You’re getting access to so many different people and it’s all online. Taking all the best features of where you normally have to go to meet these people to bring them to you in one focused online event. It’s really really exciting to say the least to have such an incredible lineup. If you notice, more and more speakers are being added by the day. There’s so much going on. It’s the way to go. I used to travel around to all these different places and it’s become too much with my family and my business. To have this right here, it’s an incredible opportunity for traders and investors. Those who are interested in real estate, business entrepreneurship, etc. It’s everything wealth. That’s what’s cool about it. Looks like there’s right about 60+ speakers. It’s getting bigger and bigger. I’m looking forward to having all of you join us at this very special event. Go to www.wealth365.com/bbt and I’ll look forward to seeing you there.

To learn more about Rob Hoffman Trader visit www.becomeabettertrader.com!

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