short term - it could retrace to the bullish trend line.
long term - higher probability of it hitting 1.98 and 2.40.
As I begin to get enquiries on my opinion on different stocks, ETFs, etc , please note that what I am offering is NOT a trade advice but merely additional information you can used for reference purposes. Trading/investment can be risky so always employ stop loss, exercise appropriate capital management and whenever in doubt, wait on the sideline.
Just because others are getting euphoric over the recent market rally does not mean you have to join in (I know it is tempting) but if you have to, ensure it is capital that you can afford to lose and not money that you need for monthly expenses. And never, never , never borrow money from banks no matter how low the interest rates are to trade/invest.
I know what some of you are thinking. Wow, if I can make 10% a month and the interest rate is at 2%, I can easily pocket 8% profits. Not bad huh ? Yes it is but the question lies in your discipline. Most of us are not (myself included from time to time) and we allow our emotions to rule over our heads. We won once, twice and think we are better than Warren Buffett, criticising him for disposing airline stocks when it rebounded 30% from the bottom. Some think making money in today's stock market is so easy, requires little skills and get complacent.
News like this tell you more retail players are coming onboard which is good for the stock market. I have said before, if I am going long, I would want more buyers in the queue so the price can keep on going up. But the point is where is the entry they are getting in ? At 25000 on the DJIA, 3000 on Nasdaq or SPX500 at 3000?
Yes, high can get higher but it can also falls just as hard. Nothing goes up in a straight line forever.
Learn to manage your psychology in trading - one of the hardest element and one that I think is the most important. Trade ideas, strategies are much easier to pick up, trust me. There are tons of ideas on the internet, free if you bother to look and research. And that is also the challenge, too much overwhelming information which can cause confusion, falsehood and delayed action.
Because you are fearful, you keep on researching and fail to pull the trigger until the price ran up and when you finally decide to execute, the price immediately retrace. And your own fear plays out, trading is risky and can lose money and your man-made fear caused you sleepless nights, stress and anxiety. Eventually, you sold out before it has a chance to take off again.
Been there, done that so I know how new traders feel and behave. And some may made good profits on demo account but when they transfer the same skills onto a live account , even on a micro account, they cannot take it.
So do not underestimate this seemingly easy to make money game. Too many had fallen for it and more will come. But if you work hard, put in your due diligence and exercise discipline and consistency, this can be a profitable business for you. And in all business, it requires dedication, time and effort. No such thing as nothing for something.
Lastly, I leave with you my favourite verse here to ponder on. Best of luck, my friends!
long term - higher probability of it hitting 1.98 and 2.40.
As I begin to get enquiries on my opinion on different stocks, ETFs, etc , please note that what I am offering is NOT a trade advice but merely additional information you can used for reference purposes. Trading/investment can be risky so always employ stop loss, exercise appropriate capital management and whenever in doubt, wait on the sideline.
Just because others are getting euphoric over the recent market rally does not mean you have to join in (I know it is tempting) but if you have to, ensure it is capital that you can afford to lose and not money that you need for monthly expenses. And never, never , never borrow money from banks no matter how low the interest rates are to trade/invest.
I know what some of you are thinking. Wow, if I can make 10% a month and the interest rate is at 2%, I can easily pocket 8% profits. Not bad huh ? Yes it is but the question lies in your discipline. Most of us are not (myself included from time to time) and we allow our emotions to rule over our heads. We won once, twice and think we are better than Warren Buffett, criticising him for disposing airline stocks when it rebounded 30% from the bottom. Some think making money in today's stock market is so easy, requires little skills and get complacent.
News like this tell you more retail players are coming onboard which is good for the stock market. I have said before, if I am going long, I would want more buyers in the queue so the price can keep on going up. But the point is where is the entry they are getting in ? At 25000 on the DJIA, 3000 on Nasdaq or SPX500 at 3000?
Yes, high can get higher but it can also falls just as hard. Nothing goes up in a straight line forever.
Learn to manage your psychology in trading - one of the hardest element and one that I think is the most important. Trade ideas, strategies are much easier to pick up, trust me. There are tons of ideas on the internet, free if you bother to look and research. And that is also the challenge, too much overwhelming information which can cause confusion, falsehood and delayed action.
Because you are fearful, you keep on researching and fail to pull the trigger until the price ran up and when you finally decide to execute, the price immediately retrace. And your own fear plays out, trading is risky and can lose money and your man-made fear caused you sleepless nights, stress and anxiety. Eventually, you sold out before it has a chance to take off again.
Been there, done that so I know how new traders feel and behave. And some may made good profits on demo account but when they transfer the same skills onto a live account , even on a micro account, they cannot take it.
So do not underestimate this seemingly easy to make money game. Too many had fallen for it and more will come. But if you work hard, put in your due diligence and exercise discipline and consistency, this can be a profitable business for you. And in all business, it requires dedication, time and effort. No such thing as nothing for something.
Lastly, I leave with you my favourite verse here to ponder on. Best of luck, my friends!
Comment:
Praise Lord, congrats to those who longed this stock!