JOSB - Update

Yesterday JOSB reached my buy point. But I waited before establishing my position because the buy point was taking place at the time the broad markets were getting "nervous". Like a good baseball player he waits for the right pitch to take the home run swing.

JOSB is still a good swing trade potential and my adjusted entry points are:

1/2 on the move over $43.40
1/2 on the move over 46.25

What this does is gets us in at the lower price (once we see additional commitment from buyers) and adds to our position once it turns into a rally (the move over $46.25). Remember swing trading is all about precise timing and waiting for the right pitch. A good swing trade can make big gains in a few days or they work out over a couple months. In either case our goal is to capitalize on the chart setups and let them play out. And all the time keeping our capital protected.

Someone on CNBC this morning (missed his name) said "Preservation of capital is job 1, appreciation of capital is job 2". That is the absolute truth and the only way to survive the markets.