Wrapping up the last couple trading days of June and into a short 4-day week (markets are closed on Friday July 3rd, due to July 4th falling on Saturday), to kick off July, we’re hit with more scare tactic headlines coming out of the weekend. Breaking News: Increased COVID-19 cases (shocker!)
Are any of you really falling for this anymore? Isn’t it obvious the sheer influence these articles/headline and trying to convey? Last Thursday’s push North into the close in $SPY, followed by the boys dumping those shares back onto the market in Friday’s session should give anyone a clue as to what’s going on behind the market curtain?
We love all this market playing b.s. by the boys on the Street; it provides so many solid momentum plays that we take advantage of.
You have two options in these kind of market conditions
1. Fight it.
2. Flow with it.
It’s much easier on your mental capital to choose ‘door #2’.
Remember, your opinion doesn’t matter; the only opinion that matters, is the opinion of the market. When you finally realize this reality, your trading success will increase exponentially and your PnL will thank you for it.
This morning, $SPY is “gapping up” during the PM session, but we saw the same move in last Thursday’s PM trading, so don’t get too excited yet Mr. Bullman!
As always, we keep it simple; if this, then that.
This week, we’re shifting our attention away from our usual suspects and focusing on daily movers/continuations. To kick off the weeks session, we’re looking at the following sectors: Consumer Discretionary, Health Care, Industrials, Technology.
As always, look for our daily Trade Ideas throughout the week, where we post the stocks we’re looking at for the day’s session.
Members will be getting a video breakdown of our entries and exits in securities on both the Watch List and additional Trade Ideas.
$AMD, $BIG, $CNC, $DDOG, $DKNG, $FSLY, $LYV, $QURE, $SHLL, $Z
As always, remain patient; all you need is one. Manage your risk properly and cut your losses quickly.
If you would like to know more about how we trade the market here at The Street Trading, reach out to us and we’ll get you started.