Just joking, of course....I know when it ends.
The market is looking weaker and weaker but I still have plenty of good looking longs so I am not going to get too worried here. It is becoming obvious we might need to look for around 4% Fed Funds Rate to complete the cycle. I am not sure, but it looks like Alan is going after another bubble. This time, housing.
Whatever he does, it doesn't matter, just have great rules to protect yourself and your profits. No matter what, newbies, cut your losses at 5 to 7%, if your initial position goes against you. When you expect something to work in this kind of market environment and it doesn't, it is time to get out and ask questions later. A key set of sell rules will protect your profits and keep your losses small so you can keep coming back day after day.
New Swing Longs: AMED HITK REXI LNG ASEI CKH SKS BONT (another buy opportunity: RATE CAND RWY)
New Swing Shorts: PSRC MMM CBD
Aloha!
2 comments:
Hi Josh
Maybe a silly question but need to ask anyway. In your daily blogs when you list "New Swing Longs: and New Swing Shorts:" do you refer to positions you have already taken or candidates for the next day? Most of them look as if the breakout has already occurred and maybe too late to get.
If the breakout is extended more than 5% of pivot point, you have to wait for a low volume pullback. If you dont get the pullback, you do not go long or short the stock.
I also take many of these intraday, but since I do not get paid to write this I am not able to post in real time.
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