The US equity markets stopped cold at key resistance levels yesterday while printing some potential reversal candlesticks. This short (10 min) video covers some of the recent developments & key technical level in QQQ & IWM (Nasdaq 100 & Russell 2000 Index Tracking ETFs).
One of the things that I'll be working on today is updating the FAQ page to include questions & answers to membership related questions. On a related note, I wanted to share some feedback that I received last night regarding the upcoming subscription service, along with my reply (edited to omit any personal info):
Randy, I have been impressed by your professional disposition, and your knowledge about market trading. Your reasoning for any official trade provided, successful or not, has been very thorough. Holistically, I have gained quite a bit of knowledge for the process and it is my full intention to subscribe.
Now being a consumer for your product, I have a couple of expectations. First, you need to be proactive when one of your official trade ideas has reached your proposed stop. As it stands when a trade successfully achieves a target (ex: UNG), you post it on the home page and discuss the percentage gain and short time it took for it to achieve that. However, when a trade such as ALK exceeds its stop limit, nothing is posted and usually a question has to be asked from the trading room. We all know that taking losses is part of the process, so the reflection on unsuccessful trades can be very helpful.
Second, I ask that you continue to not press yourself into offering trade Ideas that do not meet your expectations. Hopefully running a subscription service does not subconsciously enable that.
Third, while this is a ”keeping it light” time, I’m hoping that you will let us know when you will personally become more aggressive in response to what you see as more favorable conditions.
As always, I use your information in conjunction with my personal philosophy and take full accountability for my trading decisions.