Jobless Claims has sent the market down nearly 1% prior to the open. For the bears it is exciting, and if I was short, I’d probably be hoping that this sell-off is the beginning of another significant downturn. But the odds are that this is merely a sell-off from the market being tired from the 10% rally we’ve seen so far this month. It is probably a good idea to start brushing off that Bullish Watch-List and start looking for low-risk/high-reward setups.
LONG: International Tower Hill Mines (THM)
SHORT: Lockheed Martin (LMT)
Welcome to Swing Trading the Stock Market Podcast!
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In today's episode, I talk about tightening the risk on the trades and the benefits of taking a multi-pronged approach in doing so between profit taking and raising the stops. Also, I cover how how aggressive one should be in adding new swing trading positions and how many open positions that one should have at any given time.
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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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