I have really been hesitant in adding any new positions today to the portfolio. Going short at this point seems like a chaser’s mindset, and going long when the VIX is spiking and then consolidating at the highs, doesn’t make much sense either.
So outside of getting stopped out of WYNN earlier, I have been sitting on the sidelines for most of today. That doesn’t mean I won’t ultimately get in, but on a stock like Aetna (shown below), I’m not going to go be aggressive with my entry. Instead, I would like to wait for a pullback to the $42 level first.
On another note, AAPL bouncing nicely off of the morning lows is a positive development for the market, but the market really hasn’t responded in terms of price action.
Here’s today’s Lazy Trades Long & Short:
LONG: Aenta (AET)
SHORT: Thermo Fisher (TMO)
Welcome to Swing Trading the Stock Market Podcast!
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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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