We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.
Today he is going to take a look at the technical picture of Skyworks Solutions Inc. (NASDAQ_SWKS).
I hope you are having a GREAT week !!!
This week let's take a look at the monthly stock chart of SWKS.
When trading stocks with the MarketClub system we use the monthly MarketClub Trade Triangle to tell trend and the weekly MarketClub Trade triangle to time the trade. Continue reading "Chart to Watch - SWKS"
O.K. I got it wrong ... but MarketClub's "Trade Triangles" got it right.
The last three days in equity markets have been extraordinary beyond anyone's imagination and you have to respect the market.
One of my heroes in the stock market was a gentleman named Bernard Baruch. You basically don't hear about him anymore, but his teachings about the market are incredibly useful. You may want to read his book, Baruch: My Own Story, which I highly recommend.
One of my favorite sayings that Baruch gets credited for goes like this: "The main purpose of the stock market is to make fools of as many men as possible." Well that certainly happened to me this week when the head and shoulders formation reversed and the market squeezed all the shorts dry.
I got it wrong, but MarketClub's "Trade Triangles" had it right. Our "Trade Triangle" technology was basically neutral and on the sideline's until yesterday when the weekly "Trade Triangle" flashed a buy signal on the stock market.
If you've been reading this blog for any length of time you know that I stress diversification and discipline in trading. When you do that, you really do win out in the long run.
All the best,