[Weekend Summary]
Dear Member:
Amid some concerns that the market was turning bearish (and that's no place for a bull), I sold Labor Ready (LRW) for $24.92, making $0.42 or 1.7% in a very short time. The same day Crescent R E had broken both the trend and the 200 day moving average so I got out and took a loss.
I am still in Canadian National Railway (CNI)and it is tightroping up the uptrend line. It is at a signigicant intersection between the uptrend line and a price support which would suggest a continuation of the upward move unless the whole market fails.
Since Trend Trader is a bullish service, it is important to trade when the market or at least the sector is bullish. For that reason, I sent out the alert on Tuesday suggesting extra caution as the market is at least retracing if not turning for real. The nice thing about trading uptrends is that is almost always at least one sector going up. It is just important to avoid trading against the trend most of the time.
Thanks for subscribing. I hope you have a wonderful weekend.
Bill
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