Mark.Minervini X updated👇
The Dow and Nasdaq have now closed higher for eight consecutive sessions and the Dow has not pulled back for more than 2-3 days and more than 2%. While this strength is very impressive, it is clearly not sustainable.
A lockout rally like we've experienced is a sign of strength. But as the market extends and individual stocks get extended, I generally use the strength for selling into and nailing down gains on my swing trades. This is a natural part of the maturation cycle and a natural part of how I trade.
We've de-risked and booked a number of gain in trades that were extended. We nailed down a couple of nice double-digit profits this morning in $BHVN and $CVHN.
With cycles and seasonality bullish, the strength could carry a bit more into the end of the year. Our models are bullish and trades have been working better than we've seen in 18-months. However, as the market gets extended, I am starting to get interested in shorting the major indexes for a trade. Put volume is starting to show heavy complacency. Longer term reading are bullish. Short term a pullback is overdue.
A lockout rally like we've experienced is a sign of strength. But as the market extends and individual stocks get extended, I generally use the strength for selling into and nailing down gains on my swing trades. This is a natural part of the maturation cycle and a natural part of how I trade.
We've de-risked and booked a number of gain in trades that were extended. We nailed down a couple of nice double-digit profits this morning in $BHVN and $CVHN.
With cycles and seasonality bullish, the strength could carry a bit more into the end of the year. Our models are bullish and trades have been working better than we've seen in 18-months. However, as the market gets extended, I am starting to get interested in shorting the major indexes for a trade. Put volume is starting to show heavy complacency. Longer term reading are bullish. Short term a pullback is overdue.
![Mark.Minervini X updated👇](https://sgsnsimg.moomoo.com/feed_image/102957487/42fcb02796f23fe78f0e3703f7e94d25.jpg/bigmoo)
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Violets : great post
sTone83 OP Violets :
;His books has rewritten my understanding, and I've been grateful ever since.![heart ❤️](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/2764-fe0f.png)
MattSully : Thanks for re-posting MM’s posts bro. Very helpful.![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
MattSully : Can you figure out what CVHN is?
sTone83 OP MattSully : $Crinetics (CRNX.US)$
MattSully : Really think if you’re celebrating Xmas, you’d want to cash out by Friday to enjoy the holidays!![undefined [undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36)
sTone83 OP MattSully : Why not?![christmas_tree 🎄](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f384.png)
![christmas_tree 🎄](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f384.png)
![christmas_tree 🎄](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f384.png)