Trying to pick a bottom in a market is very difficult to do.  If I had to bet, those traders that try to pick bottoms without sound reasoning behind it (“I had a gut-feeling”) will not be successful over time.  But, in the face of a volatile market with the fundamentals in check, you can lean on technical support and resistance levels.
Click the video below to see how we did just that in Adobe Systems (Ticker: ADBE).
Follow me on Twitter @MikeShorrCBOT

about the author:

Mike Shorr

Since 1994, Michael has been an on-the-floor market maker, Vice-President of Interest Rate Derivatives for Knight Financial Products and Director of Education and Options Instructor at Trading Advantage. He makes the oftentimes complex world of options and trading accessible to the novice and advanced trader alike. Michael has a Bachelor of Science degree in Statistics and Finance from the University of Illinois Champaign-Urbana. He presently is Director, Trader Education at ProsperTradingAcademy.

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