Jack Carter Trading

Hey traders,

Last Friday, I sent out a survey asking you, my readers who haven’t started trading yet, what’s stopping you from getting started.

First off, I want to thank everyone who has filled out the survey so far. For those who haven’t, the survey is still open. Fill it out here.

The top answer, selected by over 60% of readers, is “I’m overwhelmed by the amount of information available.“

So today, I want to talk about that.

I know what it’s like to be overwhelmed by information.

I wasn’t born into a rich family. I didn’t go to Harvard.

I didn’t have anything handed to me.

I grew up in Gary, Indiana, which at one point was known as the murder capital of the US.

I had to work for everything. And studying for my Series 7 stock broker’s license was like drinking from a fire hose.

I still remember the sheer volume of information I had to memorize. And so much of it was academic “blah blah” stuff that didn’t actually help you make better trades.

Once when I was living in New York City, I had to come back home to Indiana on a bus because I had spent the last of my money on an option trade that didn’t work out.

My dad was waiting at the bus stop and told me to give up on Wall Street. He had a job waiting for me at the plant he worked at where I could wash trucks.

That left me feeling like crushed grapes, but it never for a second made me consider leaving the markets.

I was not going back to Gary, Indiana to wash trucks for the rest of my life.

I’m not telling you this to make you feel bad for me.

I just want you to see that I’m no better than you.

I’m no smarter than you.

I just know a few tricks that I’ve refined over the decades.

And if you read along and apply the knowledge, you can achieve the same things I have. Maybe even more.

I’m going to wait for some more responses to come in on the survey, so click here and fill it out if you haven’t done so yet.

But I’m starting to get an idea for what I’m going to do for you.

For now, I’m going to leave you with one tip:

If you’re overwhelmed by the amount of information that’s out there, there’s only one way to handle that: Pick one thing and stick with it.

Do you like the sound of covered calls? Read it, and apply the knowledge.

Maybe credit spreads are more your style.

Maybe you haven’t decided yet. Read my head-to-head comparison of the different strategies I use.

Whatever it is, once you understand that one thing, you can build on that knowledge.

Whatever you decide to work on, focus like a laser on that and tune out everything else.

So many times, we waste time, energy and motivation running from one thing to the next.

It can feel like you’re being productive — like you’re doing “something.”

But you have to spend enough time on one thing until you “crack that nut.”

Because until you get over that “beginner’s hump,” it’s going to be really easy to stay overwhelmed.

So that’s the tip I’ll leave you with for now. Pick one thing and get started with it.

And don’t forget to fill out the survey if you haven’t already.

Trade well,

Jack Carter

P.S. There are three golden rules to building a rock solid portfolio. Wednesday, July 31st @ 11am Eastern, I’ll be sharing them for FREE. Click here to save your spot to join me.

There’s nothing quite like the feeling of watching your account grow over the years when you barely ever place any trades. That’s the power of dividends — and I want to give you my top 3 rules for picking the best dividend stocks. Click here to register your spot now!

Now for our top trending stocks of the week:

To help you discover the power of trends, every week, every week, I share with you a handful of the top trending stocks.

These stocks are picked by the custom-built TrendPoint software I designed to pick the strongest trending stocks in the market right now.

If you know anything about me, you know that every trade I get into starts with a trending stock.

Unless a stock is in a strong trend, I don’t want to hear about it. In my book, wishy washy stocks are the quickest way to losing money.

This Week’s Stocks

Over the past few weeks, all three major indexes — the S&P 500 (SPY), the Dow (DIA) and the Nasdaq (QQQ) took a bit of a dive. All three now seem to be bouncing.

Not exactly bullish market conditions, but thankfully TrendPoint always helps me spot stocks that are bullish despite what’s going on in the broad market.

And this week’s three stocks are

ACIW
CL
SFM

And don’t forget about last week’s picks, which you can find here.

This week’s stocks show a strong trend and could still be in play for the next few weeks.

What can you do with these stocks?

Well, there are a couple of things you could consider — after doing your own research, of course:

You could just buy the stock. This is probably the simplest thing you could do. Then just wait for it to go up and sell when you hit a profit target you’re comfortable with. This is only for stocks we’re long on. For stocks we’re short on, you can short them.
You could buy an option. You know I’m not a fan of speculative plays, but every once in a while it doesn’t hurt to throw a little cash at a speculative option. Of course, while options can move bigtime if the stock goes up… the downside of options is that you have a time limit on how quickly you need the stock to make that move. So think about your risk tolerance and consider buying calls or puts depending on the stock recommendations above.
You could do an income play. If you’ve been following me for any length of time, you know that I’m a big fan of income plays, because they increase your odds of winning. We do this by SELLING options instead of buying them. If you haven’t tried your hand at income trading yet, I urge you to try this exercise for yourself.

Without risking any money, it will really let you see the power of income trading and why it’s my favorite method.

Whether you end up doing naked puts, covered calls or some kind of spread (like this bull put spread example), income plays like these are really my preferred method to use when I’ve found a great trending stock like the ones on this week’s list.

Because even if the trend comes to an end, you don’t have to be exactly right. With a direction play like buying a call, you have to be exactly right. But an income play gives you a lot more “leeway”, where the stock can move against you and you still have room to breathe and win the trade.

That’s it for now.

Stay tuned, because I’ll be sending you a new list of TrendPoint Best Trending Stocks every week! (usually Mondays)

Trade well,

Jack Carter

I Hear You Loud & Clear

Trending Stocks of the Week — July 29, 2024

This Week’s Stocks