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!
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Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
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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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*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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