In what was a relatively wide-ranged day of trading, stocks limped to the finish line as the Dow again finished with triple-digit losses. After giving up all of Friday’s gains yesterday, the market turned sour as the details of the bailout plan were voiced at a Senate Committee hearing.
As mentioned previously, the bailout plans and short-trading restrictions are not to be mistaken for rally and market strength. As smaller more nimble investors, it is our job to determine how we are going to trade, if at all, in these volatile markets.
The large daily trading ranges are hinting it may be time to keep most of you money on the sidelines. The market will tell us when it’s time to put capital back to work. Strong demand, big volume, and technical improvement are signs of a healthy market, and we have yet to see any of those things. Remember, there’s no rules about having to be invested in a market that is in confusion, in fact, the best thing as individual investors might be, to sit on the sidelines and let it sort itself out. As such unless they are defensive plays we will not issue as many daily trades in the coming days.
Here’s the Nasdaq and S&P charts…
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.
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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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