3 Swalp (Scalp + Swing) Trades
Looks like intraday volatility has returned! I will say it right now: if you aren't
protecting your long term investments and aren't learning to trade
versus invest, you will underperform. If you would like more information on this topic, look for the webinar titled: Current Trends: Long Terma nd Short Term to be added to this page.
While sitting outside and having a conversation with friends, someone
asked how long can this last? I answered: 10 years. Someone else asked
when will things get better? I answered: they already did. Don't get me
wrong, corportations will make money (albeit lean and mean and knowing
they can fire you today and pick up cheaper labor tomorrow) and people
still will spend money, but will it be a smaller percentage. If it the
unemployment numbers rise significantly, how can "things get better?".
Regardless, fixed costs will go up: schools, health care and I haven't
even touched on if inflation rears up and commodities get more
expensive. Worse yet, and this is the word I use over and over:
STAGFLATION - zero growth and zero price pressure so no inflation.
What does that mean for investors - sub par returns. What does that mean for traders? Above average returns!
To the charts. I mentioned you must protect in yesterday's blog and
webinar. Here is an updated SPY chart. Big move down, 23.6-38.2
retracement up, followed by big move down.
Past performance is not indicative of future results
Check out the next chart, SBUX. If you didn't protect it here, what
were you waiting for, new highs? And who cares if it makes new highs.
You still have to protect it. This was a freebie!
Past performance is not indicative of future results
This is similar to a MMM chart just before they had bad earnings where
they were giving away puts for a very, very low price and then, woops,
things stink!
Moving to forex, it was a 3 for 3 day (although I only got 2 of them as
had to take my son to the doctors). The first two are BUFFALO BOUNCES
and the third is DOUBLE FALL LINE TRADE.
Past performance is not indicative of future results
Past performance is not indicative of future results
Past performance is not indicative of future results
Weekly wrap up tomorrow as well as intraday comments in IBFX's Connect
Happy Trading!
