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.
Friday's stock market action proved Thursday's rally wasn't long lived.
The stock market was higher on Thursday, but finished well off its intra-day highs on strong volume.
Technical indicators suggest that the markets could go lower even after a day of big losses in the markets.
Technical indicators signaled a confusing day of investing. Oversold stocks like Apple made a comeback after being down sharply.
Smart investors were cautious Monday as the markets closed down from record highs a week ago.
Investors should be cautious as the stock indices rise higher -- but there are still good buys in select sectors.
The stock indexes turned around big in midday trading after starting lower.
The stock indexes finished off of their lows of the day with a good amount of selling across the board.
The stock indexes shed most of their losses Thursday as the indexes position themselves for another move higher.
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