‘Momentum Monday’…Charlie Sheen Killed our MoJo

There is never one explanation or indicator that will signal a change in market direction. That does not stop us from trying though.

I have seen price action long enough though to know that the tides are turning at the moment and many of the momentum names are sputtering.

I have been hunting around for a good post that describes some of the subtle changes that are afoot and found this GREAT explanation from Ron Roll @gtotoy. Take a few minutes and listen to Ron’s clear thinking about the change in the tone of the tape and how you may want to position yourself:

In my show yesterday, I talk about my $GOOG mistake, oil, the US Dollar and the importance of Angel List as a signal for high PE stocks in the tech sector.

I am being a lot more careful right now with entries. Trades over trends for the moment.


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  3. CD says:

    confirms exactly what i was feeling today (my market sense). nice job.
    ATR – new one for me. thanks for the explanation.

  4. dinosaurtrader says:

    This video was good until the Van Halen came on. Desmond Dekker? Awesome. But everything I learned when Dezzy was on evaporated once I heard thos Van Halen guitars.

    From what I DO remember though, very interesting. Thanks.


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