Well thanks. I guess it's that sometimes when I hear "professional" - my mind turns to money managers.
Something that I do if I am thinking of buying a stock at a valued price, but I'm worried about the broader market? I sometimes wait until the broader market confirms congestion. Some times I call it buying on cofirmation of a double bottom, or even a 1-2-x pattern.
I'll wait for the broader market to rebound a bit. In other words, wait until it makes a LL (lower low) then come up off that low. Then I watch it head back down again. If it doesn't, however, break below the previous LL? Then I look to buy the stock I'm looking at when the broader market starts trading at a higher area, than the previous days high.
If that makes any sense.
