Hey friend,
We got the job openings numbers for July this morning…
And they showed the number of openings decreasing to 7.18 million – below expectations and the lowest level in 10 months.
We also got factory orders numbers, which still showed a contraction – albeit one that was much less than the previous month and in-line with expectations.
The Daily Direction
Note: All indexes closed lower to start the month but opened higher today – sending the short-term directions for the S&P 500 and Nasdaq back upward.
The Daily Nugget
A winning plan is useless unless executed.
There’s a strange paradox at the heart of trading…
The best trading plan is also the one least likely to be executed.
Why?
Because by its very definition…
The “best” trading plan will be going against the crowd…
And that means executing the best trading plan will require the highest amount of emotional discipline…
Making it the hardest plan to actually execute in practice.
Now, the markets may be in for a rough month – especially if the expected rate cuts don’t materialize.
Make no mistake, that kind of environment is what breeds some of the most lucrative opportunities.
But those opportunities will be the hardest to seize…
Just like when Ross told readers to get in at the April low.
Many followed his advice – but many more didn’t.
As the month progresses, Ross will be sharing his thoughts on what’s really going on – and what the best move forward is.
Some of his advice may be difficult to follow.
But just remember…
By its very nature, the best trading plans are also the most difficult to follow.
The Traders Agency Team
