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.
In what is become a volatility driven stock market, traders need to stay alert.
Stocks digested Wednesday's huge gains with narrow losses as the Fed has the markets back.
With the release of the October Fed minutes, it appears there will be no interest rate hike.
The stock indexes had a wide swing on Tuesday. Expect this as the norm until December.
After the Federal Reserve interest rate rhetoric, stocks continue the huge downside move.
All stock indexes are now down in excess of 2% for the week.
This stock market is feeling heavy, but should have one more ramp higher before we move lower.
As the stock indexes continue trading near all-time highs, there are many cracks under the surface.
China set the stage for a market selloff on Friday by imposing new short selling regulations.
Stocks finished higher to close the trading week, but the lack of volume and liquidity is an issue going forward.
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