Poker or gambling in general has very interesting correlations to trading. In both you are dealing with uncertainty, the ability to handle your emotions and how well you manage your money.
And doing all of those things gets back to discipline and your ego. Let’s start off with knowing when to fold ’em as they say in poker or as they say in trading…cutting your losses. Some good basic rules of poker apply to trading.
In today’s trade ideas video I review trade ideas closed last week on Apache (APA), Chevron (CVX) and Whole Foods Market (WFM)…all of which were in the black. I then review 2 trade ideas that were entered and still open on Twitter (TWTR) and Visa (V). And last, I review a pending trade idea on Las Vegas Sands (LVS).
“Courage is resistance to fear, mastery of fear–not absense of fear.” —Mark Twain
The market pulled back on all the indices today. It’s almost as if it is teasing the bears. It has done this stair stepping process higher for several weeks now.
But there may something a little different this time and I discuss it in tonight’s video. I also briefly look at Michael Kors (KORS) which was up 8%, Mosaic (MOS) which was down 8% and Netflix (NFLX) which was up 4% today.
After the market closed, Facebook (FB) reported earnings and the stock was up about 3%. FireEye (FEYE) on the other hand was trading down 14% along with Whole Foods Market (WFM) trading down 6% in after hours trading. Continue reading
In today’s trade ideas video I review trades closed last week on Goldman Sachs(GS), Celgene (CELG) and Netflix NFLX). I then review trade ideas on Whole Foods Market (WFM), Apache (APA) and Chevron (CVX) that are open. And lastly I look at a new trade idea on Twitter (TWTR). Continue reading
All the indices were down today with NYSE Composite and the Russell 2000 down to a greater degree than the others. The breadth of the market and the indicators are leaving me wondering if the move down has now started. I talk about this in the video tonight.
Stock market land mines continue to go off throughout this entire rally. IBM was down 4% today on news that the SEC was investigating their revenue recognition process. IBM is now down 9.5% from its Oct. 9 countertrend closing high.
And Twitter (TWTR) reported earnings after the market closed and hit a land mine, trading down 12.3% in after hours trading. Apple (AAPL) on the other hand was basically unchanged on their earnings, as of 5:15pm CT. Continue reading
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