Market Losing Steam?

Trading In A Stock Picker’s Market
 
   
     
   
 
APRIL 12, 2024
   
Market Jitters? Four pros come together to share their hedge strategy, PLUS their TOP Moonshot Trade Idea! Friday, 4/19 @ 2pm Eastern! Click To Reserve Your Spot!
 
GUEST POST: JACK CARTER
Market Losing Steam? Trading In A Stock Picker’s Market
 

After the turbulence of the last week or so, I want to show you how analyzing the broad market shows me that the trend in the market is potentially changing…

Plus, stay with me, because I’ll be giving you a couple of tickers you’ll want to keep your eye on.

As I’ve talked about many times in the past…

Before I place any trades, I like to gauge the broad market by looking at the SPY, DIA and QQQ with 3 specific indicators on my charts.

This lets me gauge how bullish or bearish the markets are at any given time.

 
 
Market Got You On Edge? Try This.

Major indexes have plunged several times in the past few weeks…

Is it a sign that the bull run could be coming to an end? The truth is no one knows.

But Geof Smith isn’t worried… Because he’s using his “safest ticker” strategy to target monthly income.


Limited spots available. Register your spot now!
SCOTT WELSH’S ANATOMY OF A GREAT TRADE
Anatomy of a Great Trade: RIOT
 

Can we make money off of garbage companies?

Let me rephrase that.

Can we make money off of companies we don’t believe in?

The answer is yes. 

Remember, the money doesn’t know where it came from. 

If you don’t like the company but love the money, it’s okay to choose the latter.

That said, RIOT is a company that’s prone to massive moves. 

Overall, it mostly has negative earnings and trades in a controversial sector: blockchain. Some people think blockchain is the future. Some people think it’s nothing but empty air. 

RIOT is not Johnson & Johnson. I think everyone can agree on that.

But if you were aware of the furor around blockchain and bought RIOT when it closed two months in a row above the 12-month simple moving average, this is what happened in July 2020:

 
 

You would’ve bought at $2.22 and sold at $27.20 (after RIOT closed below the simple moving average). 

That’s an incredible win–and it could have been much more. RIOT reached as high as $79.50 during that run. 

Whether you like a company or not, it still might make huge moves.

And we can take part of those moves on a simple Monthly breakout.

Happy trading,

Scott
   
 

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