Take Advantage of the Slow Trading Week

It seems like every year people freak out this week. What do I mean?

It’s the official last week of summer. It’s always the slowest week of the year. As a trader, you have two options…

This Week You Have an Extra Day To Prepare

The Big Picture

There are still opportunities to trade, but the week before Labor Day is always slow.

Again, you have two options:

1. You can accept reality and trade accordingly
2. You can get frustrated and aggravated

If you’ve been trading for a while, you should know this, but I’ve had to remind several people this week. In fact, I’ve repeated this during every webinar because the questions keep coming…

“Where’s the action? Where’s the volume and volatility? What happened to all the RCTs? Why aren’t there more plays?”

Historically, the week before Labor Day has some of the lowest trading volume of the year. A lot of traders sneak away from their desks in the afternoons to take advantage of the warm days before fall sets in.

Here’s what I’d suggest until things pick up next week:

• Be extra selective. Remember, nobody forces you to take a trade.
• Don’t rush anything. Give plays time to set up. If they don’t, move on.
• Lean toward the boring, “safe” plays. This is what I’m doing.
• Get ready for what happens after Labor Day…

Here’s the deal: After Labor Day, things just absolutely start popping off.

Now, it’s not like the day after Labor Day. But every year people freak out this week because there’s not enough action.

After Labor Day, it’s the same people freaking out…

“There are too many stocks, too many plays, I can’t keep up! How do I filter?”

If you’re serious about trading, you should want to do it for years. Maybe decades. So…

Take Advantage Now to Prepare for Next Week

Use the slow afternoons to study more.

Read my September Effect post. Pull up your StocksToTrade University portal and review Pre-Market Prep or Daily Double Down webinars you missed. Re-watch the Oracle 2.0 tutorial. Not a member yet? Watch this.

If you’re brand new, use this slow trading week to binge-watch my Day Trading for Beginners course.

My Take

I actually got selected for jury duty this week. Now, did I really want to do jury duty? No. But it’s my civic responsibility. It’s my duty as a citizen.

That said, if I had to pick one week out of the year to get jury duty, it would be the week before Labor Day.

Getting frustrated about the fact that this is always the slowest week of the year solves nothing. Accept it and trade smaller. Use the slow week to prepare for the coming volatility

The reality is there are a lot of people taking this last week of summer off. A lot of traders are off.

Now, here’s the caveat: You better be ready to rock Tuesday morning, okay?

People who aren’t studying during times like this aren’t going to be prepared for next week. There’s always work to do, okay?

Watchlist

On Monday (Sept. 1), bioAffinity Technologies, Inc. (NASDAQ: BIAF) announced it had signed a nationwide distribution agreement for its CyPath lung cancer test.

The stock spiked big on the news but then faded and traded sideways the rest of the day.

Yesterday it had a nice day-two continuation:

Day three is often decision day in the penny stock lifecycle. If BIAF continues to hold near $10, it could turn into a solid multi-day runner.

On My Radar

• August Non-Farm Payrolls data available here tomorrow (Sep 4)
• Thank you for your service and enjoy your R&R
• We watched a perfect example of this pattern on Tuesday (tomorrow I’ll break it down)
• Join my colleague Ben Sturgill for his Simpler Options Bootcamp (it’s free)