Trade Aptitude

Yesterday’s results: No price levels available due to contract rollover. 

Today’s Best S&P Futures Turning Points: Buy 5698.00 stop 5693.25. No short levels above. 

The World Index: (+100/-100) jumps from zero to +33 with most major world markets Bullish on rising volatility. 

Catalysts: Retail Sales @ 8:30. Industrial Production @ 9:15. Business Inventories, Housing Market Index & Fed’s Logan @ 10:00.

Quick Tip: Complacent?  

We all trade to win and make a profit. The ups and downs happen along the way. The time to get laser-focused is when you’re feeling like you don’t need to. 

The recent rally in the S&P has the stock indexes at or near all-time highs. Our team’s swing trading portfolio had some incredible gains last week. One trade earned over 700% in two days. It’s natural when everything is effortlessly going your way to relax and enjoy the ride. 

But complacency is a dangerous condition. It precedes fear. You’ve likely heard Buffett’s famous quote “We try to be greedy when others are fearful, and fearful when others are greedy.” Recognize this and proactively manage for the coming fear. 

Take a good look at your portfolio and make the buy/sell/hold decision for each position. For example, last week was broadly enjoyed in our portfolio. Yet there were a few trades that didn’t participate. Think about it. If the market’s soaring and everything is rising but you have some laggards, should you keep them? That’s just one example. Take the time to analyze each position carefully, don’t get complacent with the rising tide. 

If you’re a swing trader of stocks or options, check out this recent training session recording. If you’d rather participate live, you can register here for the next session on Thursday @ 1:30 PM ET. No charge, no disappointments!

Trade Fearlessly,

Mike Siewruk

P.S.  Feel free to pass this along to your trading buddies. Share in the wealth!