Happy Hump Day to you. Once again, the markets are showing some bullish undertones heading into the open, with the exception being the Asian markets which on average fell by about a half percent, while European markets are trading in positive territory with gains of about 0.6% and trending upwards. Currently US Futures are holding strong with the Dow up 20 points, NASDAQ is flat, and S&P up about 1.5 points. On the economic front, we have Consumer Price Index coming out at 8:30am EST along with housing starts at the same time as well.
Euphoria has undoubtedly set in on this market but that doesn’t mean that it is going reverse course and head downward anytime soon. When the day that it does comes around, it will be one heck of a shorting opportunity, but right now, shorting the market is a capital killer I’ve learned (I’m going out on a limb here!). I posted a stock screen last night, which is definitely worth checking out too.
Here are Today’s Trade Setups…
Bullish Candle Setups: PZE
Bearish Candle Setups: AWH, STP, ASML, EPB
Stocks Ready to Bounce: WGL
Stocks Ready to Pullback: None
Breakout Stocks: CBY, LFT, PRA, POT
Breakdown Stocks: ILMN
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.
Emotional trading will destroy one’s portfolio. Aiming to hit home runs with every trade is a sure sign that the trader is overly emotional and only cares about fast money. In this podcast episode Ryan explains how chasing after stocks like MicroStrategy (MSTR) without a plan for managing the risk can ultimately ruin a trader’s attempt at being a successful swing-trader.
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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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