Hey friend,
The only big economic release this morning was existing home sales – which came in below expectations.
Next week will be a big one – with the Fed meeting combined with major employment and inflation numbers.
The Daily Direction
Note: Indexes closed mixed yesterday with the S&P 500 and Nasdaq closing slightly higher but the Dow and Russell 2000 closing lower. And while they opened higher this morning, their movements have been mixed through the day. No change in any index directions.
The Daily Nugget
You don’t need to be the first one onboard a fast-moving stock.
Have you heard the phrase “pioneers get the arrows, settlers get the land”?
You don’t always want to be the first.
Google wasn’t the first search engine.
And Microsoft wasn’t the first software maker.
They weren’t pioneers.
In fact, the pioneers in their industries aren’t around anymore.
That’s business and technology – but it applies to trading as well.
You want to be early but not too early.
It’s better to give up a little potential gains in order to drastically lower your risk.
That’s why one of Head Trader Ross Givens’ key trading principles is “follow the money”.
Yeah, you won’t be the first one in…
But you’re going in with the “smart money” on your side.
And as long as you know how to get in relatively soon after the “smart money”...
You’ll always be able to find market-beating opportunities.
So don’t be afraid to buy a rising stock.
It’s often much safer than “bottom fishing”.
Have a good weekend…
And remember – you don’t have to be a pioneer to win.
The Traders Agency Team
