The market is actually seeing a mild amount of selling today, even though it really isn’t anything to really brag about. S&P 500 (SPX) is back below the 20-day moving average which has been key to a sell-off all along.
You have to be careful about not adding too many shorts at this point in your trading. Yes, the market does look like it wants to go lower, but we have seen this scenario PLENTY of times in the past and it hasn’t always played out that way. For me, I’m adding a little more to my shorts as the market inches its way lower. And by “inches”, I do mean inches.
So open yourself to some short opportunities that the market is providing you with right now. I’ve just added one myself, but don’t go in too heavy – just start adding one here and one there and see what comes of it.
Here’s my list of short setups
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
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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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