Today was the market’s biggest day of the month in terms of determining its future direction.
Since the first day of the month the S&P 500 has been stuck in a dismal 23 point range. That is a slight bit more than 1% – hardly anything to get excited about. And since then it has been give and take for the market.
As a result, there has been very little room for the swing-trading to see its positions run hard. But now with us breaking out of the top end of the range, the opportunities are now expanding and the patience we saw during the first 22 days of the month, should pay-off nicely in the final nine.
Sometimes the market doesn’t give you the profits when you want it to.
Instead it is kind of like fishing, you won’t catch a keeper every time you cast your line in the water, but you have to keep a line in the water for the time when the fish are good and ready to bite.
As it is with the stock market, it won’t always be moving in a clearly definable way in the short-term, but you have to keep positioning yourself, and managing the risk associated with the trade, so that when the time does come for a bigger move, you are in the right place with the right positions to take advantage of the move.
That is what I have been doing all throughout this week here – simply pruning the hedges – the positions that don’t work, I cut from the portfolio. Just like I scrapped PCAR today for a 0.7% loss. I’m keeping the losses small, and letting the charts that are performing well stay in as long as the charts suggest I do so. At the end of this period of consolidation, I end up with a portfolio of stocks that have weathered the sideways churning of this market and are ready to push or already pushing much higher.
In the end, trading at its core is a game of patience – in the SharePlanner Splash Zone I show you the necessary patience with the market and when to add and subtract positions. When to let the positions run, and when to know that patience has run its course and the position has to be cut. At the end of the day, the portfolio of positions are poised for solid growth and returns.
Each month I seek to provide consistent and profitable returns of the SharePlanner Splash Zone and that is exactly what I do! You can see my past performance for every trade I’ve made by clicking here.
And you can do the same by signing up for the SharePlanner Splash Zone’s Free 7-Day Trial and receive access to my chatroom that I am in each and every day from the time the market opens until it closes, as well as receive my Real-Time Text and Email Alerts (international texts too) and the ability to automate all my trades through Ditto Trade.
With The Splash Zone, you will get my low risk and high probability trade setups that no other trading service can offer.
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