I always keep an active long and short watch-list and I add and subtract from it each day. I think it is an absolutely essential element to successful trading and reviewing those names which are on the list regularly.
To the right I have posted my watch-list heading into next week, and there are already a few of them that I am already long in such as Tata Motors (TTM) at $25.50, Groupon (GRPN) at $4.88, and Wynn Resorts (WYNN) at $115.42. I’d expect anywhere from 3-4 more long positions to be taken from this list and added to my portfolio next week as well.
You can track my watch-list live on my SharePlanner Pro trading platfrom as well.
Overall, i think the market has made a nice recovery off of the morning lows, and simply could not hold the gap-down early on, as it seems to do quite a bit of lately.
I hope you all had a great week, a fabulous month and even better quarter of trading.
Come Monday, lets start what will be the beginning of the end for 2012!
Welcome to Swing Trading the Stock Market Podcast!
I want you to become a better trader, and you know what? You absolutely can!
Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
#3: Do #1 & #2 and the profits will take care of themselves.
That’s right, successful swing-trading is about managing the risk, and with Swing Trading the Stock Market podcast, I encourage you to email me (ryan@shareplanner.com) your questions, and there’s a good chance I’ll make a future podcast out of your stock market related question.
What do you do when the best trade setup that you can find is a stock that you already have a position in? Should you trade a stock that you already have a position in and exponentially increase the size of that position? In this podcast episode Ryan explains the circumstances that allows you to increase your position size in an already profitable trade and how to manage the risk in doing so.
Be sure to check out my Swing-Trading offering through SharePlanner that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists, reviews and regular updates on the most popular stocks, including the all-important big tech stocks. Check it out now at: https://www.shareplanner.com/premium-plans
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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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