Hey friend,
The jobs report came out this morning, and jobs growth came in below expectations.
At the same time, however, the unemployment rate also fell – so it’s a bit of a mixed bag.
The market’s initial reaction has been negative, but it’s still early.
We’ll know more as it fully plays out next week leading into the Fed’s meeting.
The Daily Direction
Note: Indexes closed lower yesterday in anticipation of the jobs report. No change in any index directions.
The Daily Nugget
The real mistake is refusing to adjust after things change.
When the market moves into a pullback, many traders refuse to adjust – believing that stocks “should” only keep going up.
When the market is leaving a pullback and into a new rally, the same thing happens.
Right now, we have recession fears and the uncertainty around the magnitude of the coming Fed rate cut.
Things are extremely fluid – and the traders that do the best will be those who are willing to adjust their views accordingly.
And that applies to not just the overall market – but in individual stocks as well.
Are you willing to change your view of an individual stock based on new information – especially if that information is superior to yours – even if it doesn’t fit your perceived narrative?
That’s what separates the winning traders from the losing ones in times like these.
So if you want to come out of the other side of all this uncertainty with a fatter trading account…
Because – spoiler alert – a lot of this uncertainty has been manufactured to trap retail traders.
So, before the weekend hits, make sure you learn how to flip the tables and use it to your advantage instead.
The Traders Agency Team
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