Tackle Today: Stock of the Week: Best Buy | Tackle Trading
≈ Check the analysis on Instagram. ≈
Best Buy is an American multinational consumer electronics retailer. When it comes to this type of store, passions are high. Either you love them or you hate them.
A quick search on Google lays out this exact scenario. There are four-point-something stars reviews and there are one-star reviews. A couple of thousands each.
Before dressing up as traders to do our daily job, we are consumers, which can be tricky. The weekly Scouting Reports meetings became a (very funny) showcase of such Jekyll & Hyde, Consumer & Trader bipolar disorder. Here are some tickers that cause passions to arise almost every Friday:
And then, there’s Best Buy (NYSE: BBY), which is a personal issue. I’d like the ticker symbol to be changed to WBY (Worst Buy). My only experience with them was as horrible as it could be.
HOWEVER…
As traders, we can’t let emotions cloud our decisions. If it’s a buy it’s a buy. If it’s a sell, it’s a sell.
You voted you got it: Best Buy Co., Inc. is the stock of the week on Tackle’s Instagram. Go to our profile and check Coach Tim’s analysis on the asset. BBY is also featuring on the last Options Report. Nice breakout pattern, perfect case to apply the S.T.E.P. System rules.
If you want immediate access to the Options Report and the S.T.E.P. swing trading system, sign up now for a 15-day free trial here and start trading like a PRO.
Chart of the Day: Best Trigger
Best Buy got the best trigger on Coach Gino’s Options Report. Who got triggered into this trade?
Make sure you have a plan to apply the rules taught in the S.T.E.P. System course for this type of pattern.
Video of the Day: Trading Justice Interviews: Jack Schwager
In this episode of the Trading Justice Podcast, we welcome Jack Schwager for a discussion on trading, writing and the current state of the markets.
Trading Justice Episode 331 — Hiro Ababon: The Life Story of a Trading Veteran
In this episode of the Trading Justice Podcast, we welcome Hiro Ababon. A veteran of the military and the financial markets, he’s been a lifelong learner, investor, and entrepreneur. Listen to the episode on the player below.
Financial freedom is a journey
The Tackle Today series is brought to you by Tackle Trading.
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
Legal Disclaimer
Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.
Originally published at https://tackletrading.com on July 24, 2019.
