Yesterday I wanted to write a column about my recent frustration, but I could not find the answer, so I stopped. Today over MSN, one of my subscribers expressed his confusion and some disappointment. I now go back to dig my recent picks, and discover why my strategy has an above average failure rate this couple of weeks: the market is rewarding the companies that have come out good earning numbers, the ones have not are getting sold. Some of my picks had a great looking chart pattern, the overall market looks great, the stock price is just getting hammered after the fake breakout, because they don't have the fundamental news to support it yet. At the mean time, traders are rushing into the ones with confirmation from both technical and fundamental.
If any readers have been done very well or caught some great market movers this couple of week, please respond. Maybe there are more reasons behind my frustration.
1 comment:
Thanx for sharing. I totally agree with you.
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