I don’t dare. I don’t dare one bit.
This market appears destined to test and possibly break support on SPX at 1812. Until that happens, I have no desire to touch a long position with a 10 foot pole.
However, I know that there are those traders out there that are forever going to buy the dip. And regardless of the market, I always keep a bullish and bearish watch-list, just in case there is a sudden shift in the market. If that happens, I always want to be prepared.
I scrub this list every day, adding to and subtracting from it. But for your week ahead, this is a great starter list to build your own watch-list of stocks to consider trading and building upon.
Be careful in this market though, as the charts suggest on the indices that this market could easily head much lower this week.
Here’s my bullish list of 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
#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.
Is it better to be lucky or skillful when it comes to being a good trader? I would argue you can have it both ways, but it requires that skill manages the luck, and at times when luck is simply against you too.
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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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