Over the past couple of weeks, I’ve tried to remain some what cautious about getting overly long on this market. I stayed away from maxing out the portfolio and kept plenty of cash handy.
And I am glad I did!
While yesterday was no fun to be in any stocks of any kind, it could have been far worse had I maxed out my capital with long positions, or worse yet, dipped in to margin.
The SharePlanner Reversal Indicator below, forecasted a sell-off like this two weeks ago, when I posed the reversal then.
Today, the reversal is well underway. Of course there will be a bounce at some point next week, good chance it is even Monday. Then the question becomes whether it is a “V-shaped bounced” to new all-time highs again, or is it just a dead cat bounce that ultimately leads to another leg lower.
The proof will be in the candle sticks, and what they do going forward, so stay tuned.
Here’s the SharePlanner Reversal Indicator:
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.
In today's episode, I explain whether it is a good idea or not to rapidly increase the size of your portfolio if you come across a sum of cash. A lot of traders will do this without ever recognizing the emotional toll it can have on you as a swing trader and the awful mistakes you can make in doing so.
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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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