Hey friend,
We got the usual weekly jobless claims this morning.
This time, at 196,000, it came in below expectations and last week’s numbers.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed lower yesterday but gapped higher this morning – sending the short-term direction for the Nasdaq back upward.
Check This Out
The Daily Nugget
The trade you can explain best isn’t always the best trade.
It’s easy to get attached to a stock when the story sounds great.
AI spending.
A new product.
A big government contract.
Some giant new market opening up.
Once the explanation feels convincing, traders can start treating the trade like it has already earned their money.
But the market doesn’t pay you for having the cleanest explanation.
Sometimes the stock with the best story goes nowhere.
And sometimes a stock starts acting strangely before anybody has a neat reason for it.
That’s why I’d be careful about falling in love with the explanation first.
Let the behavior give you a reason to look closer.
Then figure out what’s behind it.
The Traders Agency Team
