Showing up every day only to be disappointed…?
Complaining that it’s slow out there and there aren’t any opportunities?
Maybe you’re looking in the wrong place.
Because in the SteadyTrade Team we locate some of the best trade opportunities in the market.
So learn to look beyond morning premarket spikers … And dig into what makes stocks move.
And there are a few themes at play right now.
Don’t believe me? Here are three examples…
Adapt or Die
The market changes and you have to adapt to it. Some traders are complaining that there are no opportunities and that this market is slow.
I agree it’s slower — but it’s nothing like the dark days of trading before 2016…
You just have to learn to follow the opportunities…
What I See Working Right Now
First, true penny stocks (stocks that trade under $1) have been hot.
Cosmos Holdings Inc. (NASDAQ: COSM) is a great example.
It’s also a stock where dip and rips in the morning worked well. But I don’t like true penny stocks. So I haven’t been in love with COSM. But if you can trade them successfully — that’s great.
It’s had three dip and rips in the last four days…
Next, afternoon plays…
But that’s not the only place I see afternoon patterns working…
Multi-day runners are another area traders should focus on. These are stocks that hold up for multiple days and offer more than one opportunity to trade them.
COSM is one example. Digital Brands Group, Inc. (NASDAQ: DBGI) is another one…
It had two afternoon high of day breaks in the last four days. And yesterday it had a day-three surge over Thursday’s high.
In yesterday morning’s SteadyTrade Team webinar, I said to watch for that pattern. I also said the key level to break was $6.50. From there it shot up to over $9 per share!
So when you break it down, there are opportunities out there.
It just depends on what works for you…
If you’re like me and don’t like the true penny stocks — then avoid trading them. Focus on the multi-day runners and look for afternoon patterns.
If you can only trade in the morning, then focus on the stocks that are showing that pattern.
Finding the right trades is just about being selective.
And breaking down what you see happening in the market — like I just did — can help you spot themes you can take advantage of.
This is what I do every morning in the SteadyTrade Team … We see what stocks are moving in real time, and we adjust our plans as the premarket and market open action unfolds.
Have a great day everyone. See you back here tomorrow.
Lead Trainer, StocksToTrade