My expectation of a roll over before Friday’s job report was wrong. The market continues to float higher. If you have stocks, trail the stops and do not let this great experience sour by having profits turn to losses.
The further away we diverge from long term average prices (50 week moving average) on the weekly chart, the greater the risk of a reversal, but we can keep getting more extended for days, weeks, or even months.
Position size, stop placement, and hedging (shorts or cash for me) are vital to maximize this trip.
Watch the video for my take on things.