Market’s down pretty good today.
What people don’t realize is that we have to have these selloffs in order for the market to go higher.
Speaking of higher, one way I like to spot new opportunities is to find stocks that are hitting new highs.
Now, it can’t just be a stock that hit a new high out of the blue. I need to see a stock that is hitting new highs after trending upward for several months.
A great example that I can show you right now is META. I may hate the company itself, but the stock is going gangbusters, steadily moving higher over the last 6+ months.
In fact, if I could give you just ONE pattern to follow, it would be what I just described:
A stock that has been steadily moving higher over several months and is hitting new highs.
Some other stocks that are doing that at this very moment: WMT, DAL, AAL, NFLX and MA.
But buying and holding is just one dimension of trading this pattern.
The way I play these is with options. And it MIGHT not be the way you think…If you’d like to see how I do it, check out this video.
Trade well,
Jack Carter
Jack Carter Trading