Hey friend,
Nothing on the economic calendar today.
However, tomorrow is a big day, with inflation, consumer spending, personal income, GDP, and jobless claims data all on the menu.
Let’s see how the markets have been moving.
The Daily Direction
Note: Indexes closed lower yesterday – dragging the medium-term direction of the Nasdaq into downward territory also. But while they opened higher this morning, there’s been no change in any index directions.
The Daily Nugget
The best mistakes to learn from are the mistakes of the crowd.
It’s good to learn from your own mistakes…
But it’s even better to learn from other’s mistakes.
Now, trading can be a very solo and private endeavour…
So most people don’t have access to “other people’s mistakes” they can learn from.
But the thing about the market is – you can always learn from the mistakes of the crowd.
You just have to be smart about it.
For instance, as Head Trader Ross Givens pointed out in his newsletter this morning…
Not many people realize that being IN the “Big Tech” trade may be a recipe for underperformance right now…
With the S&P 493 breaking into a period of possible outperformance against the big Mag 7 names.
That’s a mistake from the crowd – one you can learn from.
The lesson?
Don’t assume that the biggest and most profitable stocks in the market are the ones that necessarily deliver the largest stock returns.
So instead of looking at the most popular names everyone already knows…
You may want to look at names like the $3 stock Ross is buying even as Wall Street is panic selling.
The Traders Agency Team
