Hey friend,
We got the usual weekly jobless claims numbers this morning.
It came in at 199,000 – slightly below expectations.
Tomorrow though, we get the big headline unemployment number.
Let’s see how the markets have been moving.
The Daily Direction
Note: All indexes closed slightly lower yesterday and have been relatively mixed today. Nonetheless, all index directions remain upward.
The Daily Nugget
The best filter removes work.
There are thousands of stocks in the market.
You could spend all day reading earnings reports…
Studying charts…
And digging through company filings.
You still wouldn’t get through a fraction of them.
That’s why a useful trading strategy should do more than help you analyze a stock.
It should tell you where to look first.
A good filter cuts thousands of possible trades down to a much smaller list.
Then you can spend your time on the handful that may actually deserve it.
Of course, a filter is not a buy signal.
It is only a starting point.
From there, you still need to check the chart…
Look at the numbers…
And decide whether the setup makes sense.
But now you are researching ten stocks instead of ten thousand.
That is the real value.
A good filter does not give you more information.
It cuts away the information you do not need.
And in a market drowning in data…
Knowing what to ignore can be a huge edge.
The Traders Agency Team
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