Last day of trading for the month of November – hopefully some you aren’t still stuck in the Thanksgiving traffic and are back in the safety and comfort of your trading desk. Typically, with the last day of the trading month, the big-boys like to do some window-dressing which tends to push stocks higher. However, with the Dubai debacle at front an center, there is some serious matters to weigh for the market as a whole.
Overnight, the Asian markets were up solid, over 3.2% on the Hang Seng, and 2.9% on the Nikkei. But in the European markets, the indices are down a little over 1%. The US Futures are currently down 6 points on the Dow, and 3 points and 2 points on the Nasdaq and S&P respectively. The only significant report coming out this morning is the Chicago PMI.
Here are Today’s Trade Setups…
Bullish Candle Setups: ITG, MTU
Bearish Candle Setups: None
Stocks Ready to Bounce: THRX, UUP
Stocks Ready to Pullback: AIPC, IOC, FRX, DDS, NVS, JST
Breakout Stocks: EBR
Breakdown Stocks: ACE, BTI
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.
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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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