February 6, 2008
The day looked as if we were going to get one of those reflex bounces and recover some of the losses from the previous two sessions. However, investors were just too nervous to commit any extra of their capital to sustain this rally, and as a result, a perfect opportunity was formed for the bears to step in and erase the day’s gains. While we got a few good earnings reports (Disney in particular), later in the afternoon, a hawkish statement from a Fed governor helped flame the fires that had already begun to take hold of the market.
The markets are poised to test the lows from January, and the action at those prices levels will be something worth watching. Your traders and investors alike, will all be watching very carefully to see whether or not the bulls can step in and turn things around at the lows, or if the bears will ignore the bull’s efforts and just shoot right through the support level. Usually, a market needs to see some major panic-selling to shake the weak hands out of the market; we could have gotten that last month, but the Fed prevented as much from happening by issuing an emergency rate cut. As a result, the bleeding was stopped for the time being. However, less than a month later, the issues are the same, and the euphoria of hope created by the Fed has worn off, and we are ever so nearing the lows from last month.
Cisco (CSCO) issued a less than stellar earnings report, and we are likely to continue the trend from the past three sessions again tomorrow, unless a surprise earnings report comes about, or a surprise news story comes about. If not, expect the downward trend to continue into tomorrow.
Let’s review the charts…
NASDAQ was the big loser on the day, decreasing about 1.3% overall – about double the rest of the indices. With Cisco’s negative earnings report, and the significant intraday reversal, we should expect further downward momentum until we at least test the January lows.
CLICK HERE FOR THE NASDAQ CHART
The S&P fared much better, but it too was unable to hold its positive gains on the day, quickly reversing in the afternoon. The S&P has held up much better than the NASDAQ, but we believe that we are on track to test the lows from last month also.
We are currently working on adding a new feature to the website called the “Shareplanner Stock Screener”. We believe that this feature will give our readers more tools at their disposal and ideas for various types of stocks to trade and invest in regardless of the market conditions. Stay Tuned!
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.
Emotional trading will destroy one’s portfolio. Aiming to hit home runs with every trade is a sure sign that the trader is overly emotional and only cares about fast money. In this podcast episode Ryan explains how chasing after stocks like MicroStrategy (MSTR) without a plan for managing the risk can ultimately ruin a trader’s attempt at being a successful swing-trader.
Be sure to check out my Swing-Trading offering through SharePlanner that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists, reviews and regular updates on the most popular stocks, including the all-important big tech stocks. Check it out now at: https://www.shareplanner.com/premium-plans
📈 START SWING-TRADING WITH ME! 📈
Click here to subscribe: https://shareplanner.com/tradingblock
— — — — — — — — —
💻 STOCK MARKET TRAINING COURSES 💻
Click here for all of my training courses: https://www.shareplanner.com/trading-academy
– The A-Z of the Self-Made Trader – https://www.shareplanner.com/the-a-z-of-the-self-made-trader
– The Winning Watch-List — https://www.shareplanner.com/winning-watchlist
– Patterns to Profits — https://www.shareplanner.com/patterns-to-profits
– Get 1-on-1 Coaching — https://www.shareplanner.com/coaching
— — — — — — — — —
❤️ SUBSCRIBE TO MY YOUTUBE CHANNEL 📺
Click here to subscribe: https://www.youtube.com/shareplanner?sub_confirmation=1
🎧 LISTEN TO MY PODCAST 🎵
Click here to listen to my podcast: https://open.spotify.com/show/5Nn7MhTB9HJSyQ0C6bMKXI
— — — — — — — — —
💰 FREE RESOURCES 💰
My Website: https://shareplanner.com
— — — — — — — — —
🛠 TOOLS OF THE TRADE 🛠
Software I use (TC2000): https://bit.ly/2HBdnBm
— — — — — — — — —
📱 FOLLOW SHAREPLANNER ON SOCIAL MEDIA 📱
X: https://x.com/shareplanner
INSTAGRAM: https://instagram.com/shareplanner
FACEBOOK: https://facebook.com/shareplanner
STOCKTWITS: https://stocktwits.com/shareplanner
TikTok: https://tiktok.com/@shareplanner
*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.