Hello Tackle Traders,
Your girl Jess over here today.
During the last week of February something happened that made my jaw drop to the floor. We all know the power that social media and even more Twitter have on the news and therefore on the market. But have you ever imagined that one of the Kardashians would cause a 1.3 billion dollars drop on a stock? It is like Kylie was the Doji of Snapchat!!!
The youngest Kardashian twitted on February 21st the following tweet: “Sooo, does anyone else not open Snapchat anymore? Or is it just me… Ugh this is so sad.”
And just like every other action of the Kardashian sisters that continually break the internet, Snapchat dropped as much as Lamar Odom’s reputation after he left Khloe 😛
And okay, I know that from the chart it doesn’t look like much, bla bla bla, but take a frigging closer look to a 4-hour chart:
I told you guys… The Kardashians are the Dojis of social media!!!
And although SNAP is slowly recovering, it hasn’t broken the “support” level that Kylie created yet.
At this moment, you are probably thinking: “Is this some episode on E! Entertainment Television or a post at Tackle Trading?”
Don’t worry, we are still your favorite Trading Resource, but the reason why I brought all of this up was to remind you guys of the importance of building a watchlist with stocks that mean something to you. Don’t get me wrong, I am not saying I would trade SNAP because I can’t live without their doggy ears filter, but the reason why I had it on my watchlist was: I watch it and I watch the news about it.
To put together your own watchlist can be tricky when you are new in this business. You are not quite sure how to set it up on ToS, then you go to Finviz and start praying to the Lord for some clarification on what the heck those screeners mean… It is hard! But maybe my simple approach with watchlists can help you all, even if a little bit:
• First and foremost, I have my TACKLE 25 at the very top (if you don’t have it, I strongly recommend you adding it to your watchlists right now!), because you know, we don’t have to reinvent the wheel, and knowledge is the second most valuable currency around (being time the first one). So why would you not take advantage of the more than 4 decades combined of experience that our coaches have and put into building this watchlist?
• Secondly, I have my main indexes. This guarantees me that I am on top of the market. Your daily routine is something you build out of habit and to accustom yourself to which indexes matter the most and drive the market, it’s the first step in being a successful trader.
• Thirdly, I have a bearish and a bullish watchlist with the stocks that MEAN SOMETHING TO ME, such as:
– The airline I fly with,
– The social media platforms I use,
– The services I enjoy,
– The products I consume,
– And the products I wish I had (Hello Tesla!)
• And only now that I am used to screening on FINVIZ, I have a watchlist for individual screeners. It is not a long one and I change it according to the strategies I am using the most that month.
Also, if you would like to know more about building your watchlists, check THIS POST at Trading Justice, where Coach Tim drops some real experienced knowledge bombs on us!
Just like Coach D said on one of the last daily emails of February, NEWS DRIVE THE MARKET. And I am not comparing the head of the FED with Kylie Jenner, although I can guarantee you, more people know her name than Jerome Powell’s. But choosing meaningful stocks can make your life easier when the subject is watching the news.
For all other SERIOUS news and economic reports, make sure to read the Morning Market Report, where Coach Hector daily scans the market and tells you everything you need to know so you can start your day well informed.
Let me know in the comments down below your favorite Kardashian 😛 (Just kidding) Stocks!!!
Hope to hear from you all soon,
Jess
