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Cutting Through the Noise

QuestionsCategory: QuestionsCutting Through the Noise
mikeh131 asked 2 years ago
Pat, First, I am intentionally sending through this format so you won't feel compelled to answer before you leave. By the time you see this, I hope you will have had a wonderful and relaxing time.   As you know, Wednesday, July 13 was an interesting day in the market with a sharp drop at the open followed by the majority of stocks moving up.  I had previously set lower alerts on several stocks to watch for low volume pullbacks (not gap downs). I also had one short open and 3 option puts. Finally, with the doom and gloom following the inflation news, my first thought was simply how glad I was to have had no longs at the open.   As my low-side alerts were going off everywhere, and I was checking on whether there was going to be a lower leg down of a reversal on my short plays, I was quite disorganized and missed out on some higher lows.  Tesla was the big one you highlighted although I don't believe there was actually a Buy alert on it.  Ironically, I did look at ARLP early on.  It was moving up to the pivot but, at the time, the volume was WAY below average, so I moved on. I managed some smaller gains on a couple of others and sold enough to cover any turn to the downside on the remainder. With all that said (sorry), my question is, How do you tune out the noise on days like these? Do you first look at Master List stocks and work outward?  Is it something you develop over time?  Perhaps others would benefit from your reply as well. While you work very hard to make your system seem "simple" I think that the word "pure" is far more accurate. As such, I'm just trying to work out the impurities.  Thanks for everything.   Michael H.
1 Answers
Avatar photoOwen Staff answered 2 years ago

Hi Michael,
Pat made this video for you...