It is going to be a quiet morning as there is no major reports due out today. Futures in Asia were down slightly while Europe is essentially trading flat. Futures have a slight positive bias with the Dow, Nasdaq, and S&P up 10, 2, and 1 point respectively.
Today is what they call quadruple witching, which can create a lot of unpredictable whipsaw movements in the market. This term essentially means that contracts for stock index futures, stock index options, stock options and single stock futures all expire at the close. So there will be a lot of fighting to get these contracts to close profitable.
Here’s today’s Trade Setups…
Long Setups: FRED, RTN, SNTS
Short Setups: ATSI, CIM, ENR, EXM, NS
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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