05Jul3:01 pmEST

Find Your Inner Trading Peace This Summer

Naturally, it is a bit rich to assign too much significance to any one trading session, let alone the Friday after the Fourth of July. Nonetheless, bulls have done an admirable job of stabilizing an initial thrust lower after a strong jobs report caused some stir that the Fed will not cut rates later this year. 

As I write this, I see plenty of momentum winner from the spring, such as ROKU and SNAP, both tightening up and threatening to sustain fresh breakouts if all goes well. Other names apply, too, which I will highlight for Members in my usual Weekend Video. Moreover, plenty of fast/casual dining stocks continue to impress. In fact, I would not be surprised at all if we walk into a heavy "Merger Monday" a few times this summer, with the restaurant space being one of the beneficiaries. 

On that note, it is worth remembering how important the mental and emotional toughness component is for the speculator. We are wagering on outcomes yet to be determined (the definition of gambling), and must be tough enough to deal with the inevitable cold streaks, as well as not becoming overly complacent and sloppy during the hot streaks. 

Like most things in life, success is not necessarily judged in the near-term by hitting home runs or having obvious wins, but rather by how quickly we bounce back from setback and defeats. In essence, successful speculators will be best at bouncing back from cold streaks very quickly, whereas those who, shall we say, have less mental and emotional toughness will allow setbacks to define them ("I'm just a loser," "I can't trade this stock (or sector), it owns me").

Thus, it is important to keep track of the company you keep. Becoming attached to a trading environment with too much stimulation and nervous energy may seem exciting at times, but ultimately is counter-productive. With the way I have designed Market Chess Subscription Services, I assure you will have a calming influence on your trading process, a valuable edge to have indeed in this day and age of fast-paced markets and social media. 

Enjoy your summer weekend. 

Stock Market Recap 07/03/19 ... Weekend Overview and Analysi...

 
BackToTop
 

This website is intended for educational purposes only. | © 2019 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site