Mike Scott Webinar Today

[Mike]

Mike, do you have any rule about entering a position if the uptrend resumes without a FTD? Today we could since the S&P highs are a whisker away.

IBD will sometimes turn the buy switch on without a FTD if the S&P or NASDAQ close at a new high (above 1897.28 on the S&P500). The NYSE volume by the way is running just 2% lower than Friday. If I were talking about the NASDAQ making a new high with many stocks setting up in proper bases it would be a near certainty that the buy switch would go back on. Many leading stocks have been damaged and need time to repair, so time to be cautious.

If we had a target rich environment with quality stocks breaking out and working I would consider entering some positions in advance of a FTD. I just don't see it that way right now.

[barbados11]

IBD will sometimes turn the buy switch on without a FTD if the S&P or NASDAQ close at a new high (above 1897.28 on the S&P500). The NYSE volume by the way is running just 2% lower than Friday. If I were talking about the NASDAQ making a new high with many stocks setting up in proper bases it would be a near certainty that the buy switch would go back on. Many leading stocks have been damaged and need time to repair, so time to be cautious.

If we had a target rich environment with quality stocks breaking out and working I would consider entering some positions in advance of a FTD. I just don't see it that way right now.

Thanks for your input. Sort of my thinking too.

Best,

Pablo