Hey friend,
Tomorrow is Election Day, and Friday brings the monthly jobs report.
Today’s numbers were mixed.
ISM’s factory index hit 55.5 versus 54.5 expected, while construction spending fell 1.9% against forecasts for a 0.4% rise.
Let’s see how the markets have been moving.
The Daily Direction
Note: Stocks sold off heavily Friday but have been reclaiming a bit of ground today. All index directions for the Dow are back upward.
The Daily Nugget
It’s easy to say “buy the fear”.
“Be greedy when others are fearful.”
Easy advice to agree with when stocks are rising.
Then a selloff hits. Your account drops, and every headline gives you another reason to wait.
Suddenly, buying feels reckless.
A loss you can see feels more real than a gain you might make.
And when everyone else is selling, joining them feels safer than standing alone.
You still know the advice. You just can’t bring yourself to follow it.
That’s what makes trading so hard.
Learning a strategy is one thing.
Managing your emotions well enough to use it is another.
Sometimes, the right trade goes against the whole emotional environment around you.
The news sounds awful. Other traders are scared.
Waiting feels wise.
But fear alone can’t tell you whether a stock is a bargain or a bad trade.
That’s why a trusted, experienced guide like Ross is so helpful.
He can walk you through what’s happening, which setups still look strong, and where the risks are.
You have something more useful than a quote telling you to be brave: a clear reason for the trade.
The Traders Agency Team
