Hey friend,
The big private sector employment numbers came in this morning.
It showed private employers adding 109,000 jobs in April, nearly double March’s 61,000 and significantly ahead of the expected 84,000.
Let’s see how markets have been moving.
The Daily Direction
Note: Indexes closed higher yesterday and opened higher this morning – keeping all index directions firmly upward.
Check This Out
Head Trader Ross Givens just highlighted two stocks that are setting up for parabolic moves in his YouTube video yesterday evening. If you missed it, make sure you click here to catch it now.
The Daily Nugget
Strength tends to beget strength.
Traders are naturally worried about buying high and selling low.
That’s normal.
In fact, thanks to human psychology – that’s what ends up happening to most amateurs.
But on the flipside, it’s important to remember that strength begets strength.
All things being equal, a strong stock is more likely to keep going up than for a weak stock to perform a turnaround.
It’s just that the latter tends to capture more attention when it happens.
Of course, we’re not saying that you can’t get burned coming in at the top.
If you look at the “meme stocks”, you’ll see it happens more often than not.
But that has more to do with heavy manipulation and the gambling-like attitudes of the traders buying those stocks in the first place.
In other words, it’s an outlier – not the general rule.
In general, strength begets strength.
And that’s important to remember as the market makes yet another new high this year.
The Traders Agency Team
