Apple Inc India iPhone Sales Decline 42% | NVDA Swing Trade
Apple's India iPhone Sales Crash 42%
According to The Economic Times, Apple’s continuing slowdown in India has translated into a 42% decline in iPhone shipments in 1Q19 from a year before.
During the first quarter, Apple shipped 220,000 iPhones in India, followed by an improvement in April thanks to carrier discounts. In May and June, however, iPhone sales plunged again.
zerohedge.com//apple-iphone-sales-crash-india
Dow futures sink 100 points as Fed rate cut hopes are dashed by strong jobs data
U.S. stock futures are trading lower Monday morning as strong jobs data dampened expectations that the Federal Reserve will cut interest rates anytime soon.
As of 5:20 a.m. ET, Dow futures indicated a drop of more than 100 points at the open. S&P 500 and Nasdaq futures were also in negative territory.
cnbc.com/2019/07/08/stock-market-us-futures-lower
Weaker growth will offset a Fed rate cut—so sell stocks, warns Morgan Stanley
So we start the week with U.S. stock market indexes just a few steps away from all time highs.
Our call of the day though, kicks things off with a warning from Morgan Stanley which is “putting our money where our mouth is” and downgrading global equities to underweight from equal-weight.
Nvidia Corp NVDA Stock Chart 7-8-19
A quick call turned into two hours on Saturday.
I hooked up with an old trader friend over coffee for a virtual hangout. We covered every topic imaginable but what I wanted to share today will have the most impact. The subject of risk/reward ratios came up and we both laughed.
Since we're both around new traders and like to mentor, we hear this “golden ratio” thrown around by newbies. Yes it's important but most traders pull the numbers out of their ass, They pick a risk of one and project a profit of three.
But that's not why we laughed.
We laughed because the magic 3-1 ratio is worthless without probability on your side. In other words the odds of hitting the 3 are greater than the odds of hitting the one. So many traders focus on all this other garbage, chasing shiny objects, new technology, new alert platforms but the primary focus should be developing an edge,
Think about it. How much fear, hesitation of doubt would you have as a trader if the odds of making money were strong? Fear would disappear. There would be no doubt if you “knew” you would make money over time.
Don't get caught up in technology, or worry about algorithms. Focus on building an argument for great ideas. Ideas that have a strong probability. Only then, will risk/reward matter.
Pete
New swing trade setup today in NVDA. Solid decline and two hammer candlesticks pulling into support. Looking to start building a new long position.
