At the mid-point of the week and things so far are looking pretty good for the market. We had a nice healthy sell-off yesterday, that was quickly washed away by today’s rally. In all honesty, the market might have been better off without the hard rally today, and rather I would have been more excited to see a little more downward pressure in order that I might be able to grab some stocks on the cheap side. At this point, I would be thrilled with some consolidation, it just seems that making money in this market to the long-side is getting relatively easy and predictable, and when that occurs, usually there is a change in direction ahead.
As for my portfolio, the only change that I will be making is in DDM, the ProShares Ultra Dow30 ETF, where I will be raising my stop-loss to 43.47
Here are 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:
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#3: Do #1 & #2 and the profits will take care of themselves.
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In today’s episode, I talk about how traders can establish their position size for a small account. Whether it be less than a thousand or a little bit more, Ryan provides practical guidelines for determining how you can trade multiple positions and the right mindset to have to put yourself in the best position for success.
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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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