Markets have been moving largely sideways in anticipation of this week’s inflation data.
Next week will be interesting to watch as the market digests both the latest consumer and producer price index data.
The Daily Direction
Note: All indexes closed higher yesterday – but barely so. No change in any index directions.
The Daily Nugget
Trust your stops – not your stocks.
Yes, we must have confidence in our trading strategy.
But ultimately, we must adhere to our stops – because it’s what allows us to keep losses small and let the odds work in our favor in the longer run.
Think about targeting fast stock breakouts, which is the main strategy Ross Givens teaches here at Traders Agency.
You buy in at a predicted breakout level and place a stock just below that.
If the breakout happens, you’re golden – that’s money in the bank..
If the breakout fails, and the stock drops instead – you only take a small loss.That’s how you play the breakout game.
As for where to spot these “breakout points”…
The best way is to study institutional buying patterns – because the sheer amount of money institutions can put into a stock can send them surging.
The Traders Agency Team