Beyond Meat BYND Setting Up New Position Trade
Beyond Meat Inc BYND Stock Chart 9.20-19
A long time ago I learned from Larry Williams (in this book) that there are only two cycles to the market. Expansion and contraction, and they unfold in every time frame.
Be patient during contraction, you'll be rewarded during expansion.
I'm hosting quite a few coaching calls this week and it seems to be that patience is the problem.
"I know what to do! I want this really bad!! -- But I can't seem to be patient for good trades. I take too many trades that are less than perfect and it ruins my P&L."
I have news for you, and I say this from personal experience - you don't want it bad enough if you keep taking the wrong actions. When you want it bad enough, you stop doing what you KNOW doesn't work.
I went through this myself around 2006. I worked hard, I bought every book, attended every seminar. But none of it mattered if I didn't take the right actions.
A burning desire is the first step to success. Paying attention to results and making adjustments is what gets you to the promise land.
Maybe you need a coach so you can be accountable. I'd be more than happy to help. I hired one and it was the best investment I have ever made. I respected his opinion and he was brutally honest when I got sloppy.
"You don't want it bad enough," he would say. "If you did, you would stop taking those trades that don't match your strategy. If you did, you would hold your winners longer..."
Which brings me to the trade in BYND. I have a feeling this stock is going to be in play for a while, and the opportunities will be great.
This narrow sideways channel is setting up the next big move. Keep it on your radar, set alarms and be patient. A big position trade is coming.
Have a great day.
Pete
Here’s how Beyond Meat can lose the lead in the plant-based meat category to Tyson
Beyond Meat Inc. and Impossible Foods are the fastest-growing names in plant-based meat thanks to partnerships with the fast-food sector, but CFRA’s Arun Sundaram says Tyson Foods Inc. can take a top position by being healthier.
“We forecast Beyond Meat and Impossible Foods will remain the fastest-growing players in the space over the next couple of years, thanks to demand from quick-service restaurants,” the CFRA note said.
marketwatch.com/beyond-meat-plant-based-meat
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reuters.com/feds-bullard-manufacturing-recession
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The prospect of further rate cuts from the Federal Reserve has not put a stop to a rally in the financials this month, and one banking stock is leading the pack.
J.P. Morgan, the largest U.S. bank, has busted out to new highs this month, while the KBE bank ETF sits below a 2007 peak. Shares of J.P. Morgan have also surged 9% in the past three months, topping other banking stocks.
cnbc.com/jpmorgan-breaking-out
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