Today’s Stock Picks | Trading Strategy Review 3.26.20
Jobless claims take center stage today as the stock market digests the $2 trillion stimulus plan. The excitement may subside as the grim reality of another quarantined month looms on the horizon.
But that doesn't limit our trading opportunities. There's plenty of volatility to create a winning game plan.
If you have a few extra minutes today I encourage you to watch today's entire episode of Stocks for Breakfast. Towards the end I get into great detail about turning your trading strategy into a flawlessly executed trade.
I show you how a failed test (chart reading setup) can forecast quicker profit-taking scenarios, and a future reversal. (like we saw in many stocks yesterday afternoon)
We had a couple of examples in the SPY ETF yesterday that gave great clues to managing winning and losing trades.
I illustrate how a failed signal that never triggers gives clues to the next direction in your favorite stocks.
We also discuss how to scan for stocks that have recent weakness, that are set ups for stocks to buy. I give examples for today from the sell side too.
And finally I give some trading wisdom about avoiding big trading losses and what I consider to be my favorite trading book of all time.
Leave a comment if you have any questions.
Have a great day!
If you prefer to send an email: Pete Renzulli - firstname.lastname@example.org