Hey friend,
This morning, we got durable goods orders, which came in sharply ahead of expectations.
The same for housing starts.
All in, a decent sign for the economy (though tomorrow’s GDP numbers could throw cold water on the whole thing).
Also, the Fed announces its latest monetary policy decision in about an hour.
It is almost certain to hold rates steady.
All eyes will be on Powell’s press conference after.
The Daily Direction
Note: Indexes closed lower yesterday and opened lower this morning as well. However, all index directions remain upward.
Check This Out
Did you miss Ross’ top two trades for the week yesterday? If so, click here to watch me break them down now.
The Daily Nugget
You don’t need to be the first one onboard a fast-moving stock.
Have you heard the phrase “pioneers get the arrows, settlers get the land”?
You don’t always want to be the first.
Google wasn’t the first search engine.
And Microsoft wasn’t the first software maker.
They weren’t pioneers.
In fact, the pioneers in their industries aren’t around anymore.
That’s business and technology – but it applies to trading as well.
You want to be early but not too early.
It’s better to give up a little potential gains in order to drastically lower your risk.
That’s why one of Head Trader Ross Givens’ key trading principles is “follow the money”.
Yeah, you won’t be the first one in…
But you’re going in with the “smart money” on your side.
And as long as you know how to get in relatively soon after the “smart money”…
You’ll always be able to find market-beating opportunities.
So don’t be afraid to buy a rising stock.
It’s often much safer than “bottom fishing”.
Have a good weekend…
And remember – you don’t have to be a pioneer to win.
The Traders Agency Team
