Richard Gobel, owner and operator of Strategic Stock Trade, has more than 30 years of experience in the investment business.
Over the past few years, he has been using technical analysis and algorithms to develop day-to-day trading strategies to make financial decisions.
One of the keys to his success has been seeking out extreme conditions in the action of stocks. Using those extreme set-ups has guided him in initiating long and short positions based on trading algorithms to track extreme set-ups. When a stock is at its most extreme overbought condition, it will be flashing between 99-100 on his Extreme Set-Up scale. And when it is at its most oversold condition, the stock will be flashing between 1-0.
The stock market on Tuesday continued the no-volume theme.
Richard Gobel's internal algorithm indicators continue to signal extreme overbought conditions.
The DJIA and S&&P 500 ended the month of May bullish. What does June hold for the markets?
The stock market on Thursday continued to move higher even as the 1Q GDP number was revised to a -1%.
This stock market in the month of May has been a short hedge fund-covering machine
Extreme overbought conditions are everywhere and the short hedge funds are nearly complete in covering at the all-time highs.
The magnitude of the selloff is the only question that remains.
The days are numbered for the momentum stock-chasing crowd.
It was a huge day Wednesday thanks to the release of the Fed's meeting minutes.
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