Looks like the market is trying to regain its footing today after a surprising day in the red (can you believe it?). Right now we have US Futures up 30 points on the Dow, 6 points on the NASDAQ and 4 points on the S&P. Overseas, both the European markets and Asian markets are trading sideways. The big report of the day will be Consumer Sentiment at 9:55am EST. Outside of that, it will be a pretty quiet day from a news standpoint.
Here are Today’s Trade Setups…
Bullish Candle Setups: OIIM, FUN, PZZA
Bearish Candle Setups: JNY, FFBC, EMN, NSC, GAS, TEI, CSJ
Stocks Ready to Bounce: PCBC, TEC, PZZA
Stocks Ready to Pullback: ABV, TICC
Breakout Stocks: DOW, SVA
Breakdown Stocks: TLB, BRCD, ELON, VCI, AGM, ERC, GDP
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.
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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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