Typically I give a few short trades, but with the market bouncing yesterday, and what that has indicated in the past, I figure we will probably see further upside before we see a significant pullback. If that doesn’t happen, and we start giving up the gains today or tomorrow that we made yesterday (i.e. fill yesterday’s gap), that could be a sign that things may begin to start rolling over. However, that is neither in the here nor now of today’s market, and what we got going on currently is a market that is unwavering and unrelenting.
Until that changes… “Stay Long, my friends”.
LONG: Walgreens (WAG) – Solid resistance forming and very close to breaking out.
LONG: Ciena Corp (CIEN) – Cup and handle forming. Wait for a break of $17.37 before going long. I need to wait and see what additional price action will be, before giving my stop-loss.
LONG: Jacobs Engineering (JEC) – Bull-flag in JEC after a nice extended uptrend. Wait for $46.89 to go long.
LONG: JDS Uniphase (JDSU) – Swing-trade breakout play. Over $15.06 and this thing could give you a nice 10% return.
Welcome to Swing Trading the Stock Market Podcast!
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Watching the dollars rise and fall in your trading account can turn a well-planned swing trade into an emotional, deeply personal decision. In this episode, I explain why focusing on price action, percentage returns, and R-multiples can help you avoid cutting winners early, holding losers too long, and abandoning your trading plan.
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