Saturday, May 7, 2011

Stock Market Video - "Why Defense is the Name of the Game Right Now" - 5/8/11

Hi, traders. I tried to keep this video shorter this week but don't think I necessarily succeeded sorry. :) This morning I already saw traders on Twitter putting out their watchlists for the week ahead and I thought it would be a good idea to instead present the case for no watchlists right now with this video. By "no watchlists", I mean that we are in a market that has sent numerous signals that it is weakening and that you should protect yourself - not be chasing longs all over the place.   In my opinion, playing the long side is dangerous now and that's why this video has no long watchlist - just facts about what this market is doing and why defense is the name of the game right now.

I am not saying we can't rally from here (and if we do break Friday's high I'll be ready) but the overwhelming evidence points to a weak market and that evidence certainly needs to be respected.  

I hope you find the video helpful and informative.   As always, feel free to email me with questions or comments - I enjoy hearing from my readers.  If you like the videos, please take a moment to leave a review on Investimonials.   

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1 comment:

Anonymous said...

Hello,

I really enjoy your videos and your tweets. As I was flipping through your tweets from the past days, I noticed that you have a regular job and only trade part time. I was wondering if you could write a post on how you manage trading and a regular job at the same time, e.g. do you set up automatic trade triggers every night?, do you monitor the market at work?, do you trade at work? etc.

Best regards,
Philipp