“The goal of a successful trader is to make the best trades. Money is secondary.” – Alexander Elder
Another solid day with markets holding and not showing me any sign of a top yet and leading stocks still doing well.
It really has been an unexpected and great August and we’re taking advantage of it.
I’m very heavy into stocks now with 12 stocks and not much margin left.
I get in, and out of stocks quickly as the action tells me to.
I can’t really buy much more but I have added to a few positions as they told me to with good results so far.
Let’s take a look at the SPDR S&P 500 (ARCA:SPY) ETF and see this nice uptrend that remains in place.
SPY has a great uptrend channel. All we can do is ride it until it breaks.
No sign of a top to me yet.
Depending on the uptrend angle, you can sometimes judge how long it will last, this one can go for a while yet and even breakout to the upside before we see any meaningful correction.