Howestreet Interview: Rookie Traders Likely to Learn Lessons the Hard Way- Mike Swanson (07/16/2020)

In this interview with Jim Goddard of www.howestreet.com I gave my updated views on the markets and talked about the flood of new traders this year who came into the market to trade for the first time starting in April. They were captivated by the rally and many used stimulus checks to get started. Some were sports bettors who went into stocks via the Robinhood unable to bet on sports with their gambling apps. They took their willingness to bet it up for big risks into the market buying anything at any price helping stocks like TSLA go up often with no idea of the earnings or fundamentals of what they were buying and no game plan except bet.

These people have never seen a stock market decline and much less have navigated the markets. It’s imperative to help these people get out of this market before he next decline happens and what happens the rest of this month will be key – but most people are only paying attention to daily moves and this week Federal Reserve talk of “yield control” policies helped the market Tuesday. At the same time they must realize there is more to making money than playing the fad stocks on Robinhood. Gold is beating the stock market all year and gold bugs are now ruling the markets. Big cap stocks such as NEM made new highs and the right small caps are in position. This is why I am still excited about my top summer stock. You can find out about it here.

-Mike



SUBSCRIBE TO THE BRAND NEW WALLSTREETWINDOW PODCAST VIA OUR RSS FEED
Subscribe in a reader


Share This Post