Day Trading Versus Swing Trading-Which is Better?
Hello and Welcome back to today's Smart Money Alert for Thursday February 27, 2020.
MSFT is the latest company to announce supply chain issues due to the corona virus. Stock futures traded below the level we identified as a high volume area. The SPY ETF needs to get above 316 for us to begin buying.
We're currently trading well below that number. As I've mentioned several times this week significant news trumps the charts, every time. (no pun intended)
In today's episode of Stocks for Breakfast I discuss the benefits and drawbacks of day trading this market versus swing trading. I also give my opinion on when and if you should ever trade for a living.
Tough to make a call on new trades today with fresh, bearish news. There is one sector however that is getting hit hard that might consider some long-term consideration.
Cruise lines. Many of them were near multi year highs last week. If you like the fundamentals of a particular company, it makes sense to dig in and look for an investment to hold.
Continue to be disciplined. It's a tough tape right now for the bulls.
Have a great day.
Pete
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