Steve Swetz

Full-time CANSLIM stock market trader, Christian conservative, tennis player, CPA

[Mark Minervini @markminervini]

As the market opens higher this morning, it's important to remain disciplined and avoid chasing an early rally—especially following a significant down day and a weak close on Friday.
One of the most common mistakes investors make is assuming that the first bounce marks the start of a sustainable advance. In many cases, the initial rally is simply an oversold reaction or what traders refer to as a "dead cat bounce."
Historically, after a sharp decline, I prefer to give the market time—often until midweek or even the end of the week—to see whether buyers are truly stepping in with conviction. Very often, after the first reaction higher, the market resumes its downtrend, undercuts the recent lows, and additional damage occurs.
Patience and selectivity are critical. Let the market reveal its true character before becoming overly aggressive. Focus on preserving capital, managing risk, and allowing the price action to confirm whether the move is the beginning of something meaningful or merely a temporary bounce within a larger decline. https://t.co/JXzFFTmMtn

[The Factor Report @PeterLBrandt]

Novice and aspiring market speculators think the magic is found in trade identification.
The "what" and "when" components of trading -- while necessary -- represent only about 5% of a trader's "edge."
Yet aspiring traders spend 80% of their time, energy, hopes and fears on trade identification and the next trade.
The real landmine in trading is self-sabotage. Dealing with human emotions is the battle line that matters.
You want to know yourself, I mean really know yourself -- the good, the bad and the ugly?
Become a trader.
This is why all the trading services who talk about their last trade (made 250% on XYZ) is such an absolute joke.
Trading services who talk about their winners are trading services you must avoid at all costs.
The real enemy in trading is self.
You want to know your biggest enemy to trading success? Well, just look in a mirror. It is you, not what you know or don't know, that keeps you from gaining traction in trading.
After three to five years of experience a person should know what they need to do to be profitable. The challenge is actually doing what you know you must do.
The task is overcoming self.

[Billy Graham @BillyGraham]

“The greatest news that mortal ears have ever heard is that Jesus Christ has risen from the dead. Only in this truth can we comprehend that out of death comes life, out of emptiness comes eternity.” —Billy Graham

[Steve Swetz @sswetz]

@SRGA_ WOO is short for window of opportunity. It is my way to judge the health of the market. I maintain a spreadsheet that I update at the end of the day to track it. Here is the link. https://t.co/DwduaBKdlF

[Steve Swetz @sswetz]

I did not do a good job answering Ali's sell rule question on IBD Live this morning so here are my 6 sell rules.
1. Cut all losses at 8% or less
2. Before reaching the 20% profit goal, move stops to breakeven after up 15%+ or after a weak rally or sell when in "serious trouble" (huge 10%+ gap down or poor daily close below weekly support)
3. Take profits at 20%+(can use trailing stop) with one exception(see rule #4).
4. If stock is reaches 20% within 8 weeks of the initial purchase or during an EPS gap/demand bar early in the stock's advance or market's advance, sell when in "serious trouble", climax top, late stage/faulty base breakout failure, wide spread large daily/weekly point drop followed by a "wedging rally".
5. Sell/tighten stops of the weakest performing positions when need buying power to buy/add to a TML or when the WOO is off or at resistance of distribution trading range in the Nasdaq/S&P.
6. Consider reducing position size before an EPS report based on (1) profit cushion, (2) historical response to EPS report, (3) current/future annual PEG ratio, (4) position of the stock within the Wyckoff phases.

[Mike Webster @mwebster1971]

Kind of you to remember brother❤️

This is YOUR market…you are killing it…happy for you and proud of you!

I don’t talk returns often (it doesn’t help your trading IMO) and hate seeing all the screenshots from folks with their returns…but 🤷‍♂️

But for the record, in 1999 I was up 1,640% (all stock, no options) laser focused on trying to become a PM for Bill…that’s all I cared about…not making money or returns…just trying to prove to him that I deserved to be one of his PMs…that was my ONLY GOAL!

I honestly didn’t do anything that year but look at charts AFTER work, before work, on my 100+ mile daily commute in LA traffic, in the middle of the night, weekends,…etc

During trading hours I wasn’t allowed to look at charts (I had to use buy/sell stops)…and could only check prices occasionally as the supervisors and VP of WON’s research department had me on notice that they’d fire me if I look at them during work hours…what a total joke IMO

We had to trade through Bill’s “discount brokerage” $28 a trade + $.05/share. I was paying Bill more in commission than I was taking in salary. And their execution was horrible…I always wondered how I would have done with good execution, fair commissions and not worrying about getting fired ever time I’d check a quote🤔

Not complaining…just letting folks know that they can do it too…no matter what obstacles you have in front of you

What was key for me was knowing that Bill had access to all my trades. So EVERY single trade was planned & by the book (as I had interpreted his book). No, BS trades…no pushing things…nothing “off the reservation”.

I planned every trade the night before…I had contingency plans in place for everything.

One of the things that helped a lot were circuit breakers…when I was off I’d go to cash and not trade until the follow Tuesday.

If I had a loss on the trade at the end of the day I’d close it out

In the end I found out Bill wasn’t looking at them at all…but I’m glad I didn’t know that at the time.

It was VERY hard…was also trying to study for Level II of the CFA until my wife (now ex) said I either give up the CFA, trading or the marriage…I chose…well I should have gone with the CMT🤣

By the end of the year Bill made me a PM…then a few months later he moved me into his office for a few years…that was priceless to me

Anyone can do it if you put in the effort, learn from your mistakes (which I made every mistakes). Never EVER EVER have an EGO!!

Always find YOUR way!!

For folks who are interested in more details on my 1999 journey…here you go

Oh and for the record…that return should have been much higher…but I didn’t know Bill had changed from small caps to large caps…so I skipped all the monsters like QCOM, DELL, etc because I was trying to do it by the book…well the 2nd edition

I was very privileged to get to work on the 3rd & 4th editions with him…that was a true honor

I miss him dearly…but he wasn’t easy to work for…just keepin’ it real

As Bill would always say…

YOU CAN DO IT!

https://t.co/UDghtYHNkN

[Steve Swetz @sswetz]

These are the 4 buy setups I discussed on IBD Live in order of when they appear in the cycle. All buy setups assume there was a prior strong uptrend and the stock has excellent CANSLIME characteristics.
1. 1st pullback to the 10 week MA(sometimes 21 day EMA).
2. Shakeout of weekly support.
3. Tight area on the right hand side of a base.
4. EPS gap/strong demand bar breakout from a base.
The cycle starts all over again with the 1st buy setup after the 3rd/4th buy setup occurs.
Add-on buys are usually at the 21 day EMA, 2-3 week tight areas including Webby's shelf pattern, or large gaps.

[Steve Swetz @sswetz]

I had a GREAT time on IBD Live this morning. Ali, Justin, & "Hatman" Dave could not have been nicer. All of the participants were great too. I regret that I was not able to answer many questions. I want folks to know that I was not ignoring anyone. I just couldn't get to all of the questions.

[Alex Marenco @AlexMarenco1]

Join us again This Wed May 20th at 7:00 pm PST with
@sswetz and guest @ThePath2Profit for a full market overview and the best stock ideas. $SPY $QQQ $SMH
#investors #IBD #money Reg link below https://t.co/67iNMW2zBf

[Alex Marenco @AlexMarenco1]

Join us again on Wed May 20th at 7:00 pm PST with @sswetz and @ThePath2Profit for a full market overview and the best stock ideas. $SPY $QQQ $MAGS #investors #IBD #money Reg link below https://t.co/67iNMW21LH

[Steve Swetz @sswetz]

I am scheduled to be a guest on IBD Live Friday, May 22nd. I had a GREAT time being on the show last time. I was nervous but everybody from IBD make you feel at home. IBD does a great job bringing top quality education for those folks interested in using a growth stock investing strategy. They certainly have helped me over the years, actually decades. I forget how old I am.😀

[Alex Marenco @AlexMarenco1]

Join us again on Wed May 20th at 7:00 pm PST with @sswetz and a guest for a full market overview and the best stock ideas. $SPY $QQQ $MAGS #investors #IBD #money Reg link below https://t.co/67iNMW21LH

[Linda Raschke @LindaRaschke]

In strong uptrends, morning weakness is a buy, and in this case, Sunday night opening. Buy first pullback below 5 SMA!

[Steve Swetz @sswetz]

@GBaller So you are the one that saw my show.😊I really appreciate your kind words. Yes, I own SNDK. I got it on April 2nd.

[Alex Marenco @AlexMarenco1]

Join us again Tomorrow Wed April 15th at 7:00 pm PST with @sswetz and guest @TheTraderReset (Top 4th, 269% returns in 2025 @USICOfficial) for a full market overview and the best stock ideas. $SPY $QQQ $XBI #investors #IBD #money Reg link below https://t.co/mNumO9eP5w

[Today In History @historigins]

In a world where you can be anything, be a number 50

[Mark Minervini @markminervini]

Good rules from my good friend Stan the Man. I just spoke with him the other day. Stan is a national treasure. He calls me his "brother from another mother." If you haven't read his book, it's a classic and a fundamental must for anyone intetested in trend analysis.

[Billy Graham @BillyGraham]

On that first Good Friday, Jesus did what we could never do for ourselves. What looked like defeat became the way of salvation as He gave His life so that we could be forgiven and have the hope of eternity through Him.

[Mark Minervini @markminervini]

I thought this was a really great Q&A session with clients this morning, so I wanted to share it with you. Enjoy.
I hope it brings insight and helps you better your trading.
Private Client Q&A with Mark Minervini at Minervini Private Access using... https://t.co/NEStUdanh7 via @YouTube