Ideal Time To Be A Market Hunter

Posted by Joe Duffy | Jun 20, 2023 | Joe Duffy's Trading Advantage | 0 |

The last couple of weeks I picked stocks that looked likely to move up as the market rotated. Rotation refers simply to the phenomena that as the general market rises leadership “rotates”, such that as one sector needs a breather, another sector gets bought. My stocks for this rotation were JPM, JNJ, SBUX, LVS and PEP. All of these stocks did their job in the rotation and there was money to be made in all of them.

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Right now though, I am not seeing any candidates for rotation. That does not mean the market won’t go up, it just means that the attractive buy candidates are moving toward nil. Many stocks have their highest daily RSI 10 values since February 2023. So overall it’s not a favorable climate. I favor a pullback here, and then evaluate what looks attractive at lower prices.

Thanks,

Joe

About The Author

Joe Duffy

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