Even with a huge rally on Friday, the bulls aren’t done just yet.
This was seen quite clearly on the SharePlanner Reversal Indicator reading as well, showing the market still had plenty of upside left in it.
Though like many of the rallies of late, the move happens before the day ever happens, resulting in a fairly large gap higher, and boredom throughout the remainder of the day, so that holding overnight becomes essential.
Over the past couple of weeks, I have managed to put together a fairly solid portfolio of trades that are doing quite well for me at the moment. For now, I am more interested in managing the current positions in my portfolio rather than adding more trades and exposure.
Here are the long setups to watch for the week:
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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As swing traders, we have to accept that losing will be a regular part of trading and one that we must accept. In this podcast episode, Ryan explains how a trader who isn't comfortable with losing is a losing trader. If you're not comfortable with losing in the stock market, you'll never find real success as a trader either.
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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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