As a trader or investor, one thing you absolutely must do is look back at your trades and investments to see what you did right, what you did wrong, and what changes you might need to make.
In nearly 25 years of trading, I think I’ve changed or tweaked my approach thousands of times. Every trade – good or bad – offers a learning experience, so here are some charts from last week with the exact remarks I noted then. (These worked out; in future weeks I won’t be so fortunate, so we’ll learn from those also.)
First up is a look at the market. I thought it might stall and sure enough, it went nowhere this week.
Next up is UPS (UPS). It worked out nicely.
Safeway (SWY) is from a few weeks ago. It took awhile, but I finally cashed it for a profit.
Now let’s hope the “sideways” stuff is done and the market can attack 16,000.
Gary B. Smith joined FOX News Channel in 1999 and is currently a regular commentator on "Bulls & Bears," including his own segment called, "The Chartman."