CPA JOSS

The one key element for traders looking to "buy the dip" is support. Support levels are powerful because this is the level where we see buying interest due to previous buying, trend lines or moving averages. Even during market selloffs where the drop seems to have no floor, support can have a powerful impact. Let's study these momentum stocks during the current selloff. Notice that all of

Today's chart of the day is Facebook, which despite a tepid earnings reaction this quarter is showing strong relative strength versus the market and looks to make a run to $100. Keep an eye on this $100 level, which also is near the all-time high breakout level. Entry can be made on breakout or early in anticipation of the breakout. Subscribe to The Market Speculator by Email and never