An intolerable market this thing is becoming
The biggest irritation with this market, is the lack of conviction. We are drifting and luckily for bulls we are drifting higher. But with that said, you can’t get a real sense of conviction out of the bulls. The gains that do happen, occur within the first 15-20 minutes of trading followed by mind-numbing sideways trading. Then you’ll get an additional 4-5 days of consolidation as well. Daily ranges of 2 points are becoming the norm, not the exception.
Long or short, I don’t care, lets just get some conviction on where it wants to go.
Here’s today’s Lazy Swing Trades
Long; Ocwen Financial (OCN)
Short: Actavis (ACT)
Welcome to Swing Trading the Stock Market Podcast!
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Commit these three rules to memory and to your trading:
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#2: Keep the Losses Small
#3: Do #1 & #2 and the profits will take care of themselves.
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In today's episode, I explain whether it is a good idea or not to rapidly increase the size of your portfolio if you come across a sum of cash. A lot of traders will do this without ever recognizing the emotional toll it can have on you as a swing trader and the awful mistakes you can make in doing so.
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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