Swing Trader Pro: Morning Briefing (04-05-2023)

JC Parets
April 5, 2023

From the Desk of Kimmy Sokoloff

Happy Passover to those who celebrate!!

The market is trying to consolidate, as it should, and I think it needs more of it. I'd like a healthy pull into $SPY 405 or so.

Yesterday, banks and steel names took a bit of a beating, whereas gold was full speed ahead. Keep in mind, when I make a recommendation in the morning, it does not mean it will come to fruition.

I write this note early, and names change by the time the market opens. And then I need to see how that stock trades.

Sometimes it's ready, and sometimes I come back to it a day later or never.

For example, I recommended $SNOW on Monday, and I traded it on Tuesday because it was ready.

Here's what I'm looking at this morning:

  • For today, I'm watching $MU. It's riding a thin line here at its 200-day moving average. If it breaks 57.10 with force, there's potential to 56.10.

  • I'm also watching $MRK above 109.50 for a potential move to 110.50.

I'll see you in the live trading room at the open.

Here are a couple of key things to remember about what we're doing here.

First, it's important to be in the live chat. As you know, the market has been extremely volatile, and we'll likely continue to see many ups and downs.

What that means practically is that I'll update not just price levels but even particular names we're watching as the market moves.

Second, please understand that the focus of our discussions is simply my opinion.

Your results will vary based on many factors and variables including execution, timing, and market conditions. All of these issues are completely out of my control -- and yours as well.

Our mutual goal is to win more than we will lose and that, by adding some of my strategies, we'll help you boost your overall success.

Remember, the market is on its own schedule and subject to change without notice.

We've had many questions about position and allocation sizes. I will never advise you regarding the amount of risk or portion of your assets you should invest.

All trades are at your own risk and can be discussed with your personal financial advisor at any time should you feel necessary.

Thank you for joining us, and I look forward to working with all of you!

And please each out with any questions.

We'll see you LIVE on the ASC Rangefinder app to start the trading day.

All Star Charts Team

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