It looks like the markets are about done taking a breather and ready to blast off to new highs very soon. This is in spite of the Fed almost with a certainty hiking rates and announcing a very aggressive stance for 2017. And in spite of the overhang of a constitutional crisis early next week.
All news is being shaken off by the animal spirits of the “fear and greed” crowd. When will this end? Most likely not this year as we are entering one of the most bullish times for the market.
I am long and looking to get longer. My day trade swings are in a slump. I am like 0-5 on these so beware! Please do not follow them blindly or if you cannot take a quick loss never follow them. If you have a propensity like many to let your losses run and take quick profits you do not have a chance with short term swing trading. Or for any form of gambling for that matter.
I cannot tell you the number of poker players I have encountered over the years that when they get ahead 10 big bets that are looking for the exit. But get them down 10 big bets and you might find them in the same game 3 days later losing 300 big bets. Now, this is not an exaggeration:) I have seen this personally many times in the Bellagio poker room. I have seen people loose 20,000 in a 20-40 mixed game who if they got 300 ahead would be out the door!
Humans are a strange breed as “Spock” would say:)
So if your one of those that even closely has tendencies of that nature do yourself a favor and get that in line before you join me and my fellow gamblers on our lifelong journey. You will thank me if you follow this advice.
Did I get sidetracked again!
I do not post my medium term swing usually as some are not my ideas. I have no intention of sharing trades that are originated by someone besides myself. They have invested a lot of time and money developing their techniques. And also they are like finding a needle in a haystack. But I do post my ideas on my twitter feed.
If anyone has an interest in some of the people I follow daily I would be happy to share this with you. I only post links to the free sites I feel are top notch and have the potential to teach and make you money. The subscription sites I do not put links to. Although I am thinking about changing my mind on this and posting the top subscription services for investors that I use myself.
Out of 1000,s of subscription sites out there my guess is less than 10 are worth subscribing to.
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
RickJ’s Handicapping Picks