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 bears were out in full force Friday, a reminder to the bulls that they will not go away.
The bulls are back in charge after two days. Or, are they? At this point, we are seeing a bounce.
The stock market continues to give back many gains made in December.
The four major stock indices ended December lower.
But how high can this stock market go before the plugged is pulled?
The three major stock indexes tried but last week's drop couldn't be completely overcome.
Was the stock market move the past two days generated by short hedge funds caught leaning the wrong way?
After the conclusion of the FOMC meeting the stock market resumed its bubble-like features.
The market's roller coaster started lower, then up 247 points before closing lower again. Apple and Coca-Cola are among the stocks to buy this week.
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