Stock pick for 04/18/2012
I believe that you all se very strong divergence between DIA and QQQ. It is logical that conclusion is high risk after that. Because of that yesterday activity was not big and I will stay in same line next days until that will be over. Longer time QQQ chart was stronger than DIA and SPY what we can easily see on the monthly time frame, but this time we have extremely daily divergence. I will take smaller trade number and my risk will be maximum 50% of usual risk and focus will be more on intraday setups based on 5-15 min time frame. Also I will try to use 5-15 min trading plan and after we will see if that trade could turn in to swing or not what will depends on market action. When we have strong divergence like now I think that is impossible to predict where market will go, at least it is for me. Since I don’t have much bias I will follow market and I will be patient. This is not something new. I saw many periods like this so I will be patient and that will gone. That not mean I won’t trade, that mean I will be more caution with less risk.
Wish you all good trading day
Kind regards
Ivica Juracic
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