Buying Silver, Buying Natural Gas/Everything That You Need To Know For The Week Ahead

Buying commodities... still

Economic Calendar: This week is not as pivotal as economists and investors want you to believe, with key economic data and two days of testimony from Fed Chairman Jerome Powell before Congress. The market's reaction to these events will be crucial, especially given the Fed's recent emphasis on patience regarding potential interest-rate cuts. Powell's testimony may be contentious, with Senate Democrats pushing for rate cuts to boost the economy before the November elections, while Republicans argue for maintaining the current course to combat inflation. Friday's February job report is expected to show a cooling labor market after two strong months, with economists predicting 210,000 new jobs and a steady unemployment rate of 3.7%. Meanwhile, economists are revising their forecasts for first-quarter GDP growth, with estimates ranging from 2.1% to 2.25%, based on recent data.

Most of the time when I see all this information, I do nothing. I never, ever cut positions because something could happen. If that was the case I would never trade. I would sit on my hands and wait for perfect conditions. I will never it. Then, I would never trade and “you miss 100% of the shots you don’t take” as the Wayne Gretzky quote comes to mind.

Over everything you need a way to get in and out of trades. As a trader you also have to let go of the fact that you will not win all the time. Steph Curry is the best shooter ever in basketball. He hits around 40% of his shots from 3 throughout his career. A winning system can have a 40% win rate if your winners are larger than your losers.

The chart I shared before was not made by me and it was not clear. This time I figured that I would just make one. Now that you can see it clearly. Let go of your bias. Take loses quickly and let your winners run.

Looking at the health inside of a sector can give you some serious insight in to why it is holding up. Also it can tell you where to position yourself. As a futures, options, sectors and country trader. (Really I will trade any and everything). Don’t limit yourself.

I do randomly talk about stocks I trade from time to time. I will give you a simple model for looking for relative strength that you can use. I don’t think you need a stockcharts account to do so.

1. Here is an extended stock in CAT.