For Friday’s show it was requested that co-host Dennis Dick describe the steps he goes through when setting up a swing trade. That included a potential catalyst, identification of the long-term trend, short-term technicals for entry and stop and a soft target.
He just happened to choose one of the hottest stocks on Wall Street at the perfect time, Tesla Inc. (NASDAQ: TSLA). Listen and follow below how he laid out the trade step by step for our listening audience.
The fact that the set-up did work out in a big way is not the point. The point is the process he laid-out and will continue to apply to many other stocks in the future, both on the long and short side.