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TSBTV#4 - Counter Trend Plays

TSBTV#4 - Counter Trend Plays

If you’ve traded for any length of time, you’ve no doubt heard the phrase, “The Trend is Your Friend.”

I can’t argue with that logic, and I really like to make continuation plays if you wanna know the truth. They tend to work great - unless the market is range-bound like the past 2 months!

So when the major indexes have been hammered for several days and are approaching the lower boundaries of their trading ranges, I’m timid with short sales - just in case that support holds again.  After all, it is support until it’s broken, right?

As the indexes start to get stretched to the downside in the near term, I start considering some possible plays on the long side that I can turn to when a relief bounce sets in.

In this episode, we’ll take a look at a play I initiated today and why.  It’s a counter-trend play to the overall market, but not in this stock.  Watch the clip and you’ll see what I’m talking about!

(Be sure to click the full-screen option for best viewing.)

Hope you enjoy the show! Thanks for watching and subscribing, and feel free to post your ideas and comments down below.

Trade like a Bandit!

Jeff White
President, TheStockBandit, Inc. (Premium service) (Trading Blog)

2 Responses to “TSBTV#4 - Counter Trend Plays”

  1. shawn hester Says:

    thanks for sharing! i’ve learned a lot on your site. Thank you!

  2. TheStockBandit Says:

    Thanks Shawn!

    It’s great to see you here and I appreciate the comments. What style of trader are you?