Rackspace Hosting (RAX) is having one heck of a day.
First, it confirms the massive inverse head and shoulders pattern and secondly it breaks cleanly above the 50-day moving average. Some very nice action there no doubt. No position for me as it falls outside my risk tolerance in terms of reward/risk. But still a phenomenal chart.
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 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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*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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