The Chart of the Day…
Quick Glance at the Market Heat Map and Industries
Notables:
- Not a good day for the Conglomerates
- Basic Materials and Tech also weighed down the market today.
- Services, Goods and Utilities showed a little bit of buying action today.
SharePlanner Compass:
I’m changing this to consolidation simply because I thought we would’ve moved higher by now. We also still have weak volume and coupled together, I don’t think an “uptrend” is warranted until the market breaks out again.
And of course…the RIDICULOUS!
Since we kick off the Democratic National Convention tonight… I thought I would share with you a message from Chuck Norris… When Chuck warns, you better beware, or you might just get the round house kick!
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.
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.
Be sure to check out my Swing-Trading offering through SharePlanner that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists, reviews and regular updates on the most popular stocks, including the all-important big tech stocks. Check it out now at: https://www.shareplanner.com/premium-plans
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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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