Swing Trading Strategy:
Incredible day yesterday as I finally closed out my Virgin Galactic (SPCE) trade at 33.41 for a 77% profit. Really fun trade, followed the plan, and exited when it wouldn’t let me stay any longer. I added one new long position as well as a short position.
Indicators
- Volatility Index (VIX) – VIX popped 8.4% but price action did little to follow suit to the downside. Likely that it gets quickly hammered today, if the market rally continues.
- T2108 (% of stocks trading above their 40-day moving average): Third straight day lower on T2108 as it continues to diverge from market price action, particularly from the Nasdaq.
- Moving averages (SPX): Trading above all the major moving averages.
- RELATED: Patterns to Profits: Training Course
Sectors to Watch Today
The Utilities sector is is taking a hit off of NextEra Energy (NEE) selling off. Also, Real Estate finally showing signs of weakness, but the uptrend remains very strong. Technology pushing stocks higher as $AAPL is determined to recover from yesterday’s sell-off. Energy has been rallying the last couple of days, but recent attempts to play the bounce says to not trust it at all. 
My Market Sentiment
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!
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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 this podcast episode, Ryan tackles the issue of taking meme stock trading and applying it to IPO's and chasing after them to astronomical highs, and why for most people the likely result will be massive losses being incurred. Also covered in this episode, is whether you should short meme stocks, and why that is even worse of an idea than chasing after the stocks to the long side.
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