Todays long trade idea:You can get long US large cap growth companies via the iShares S&P 500 Growth Index ETF, IVW. As long as IVW trades above $134.24, then use declines below $139.89 for new long trades, suggests Landon Whaley of Focus Market Trader.

Get Trading Insights, MoneyShows free trading newsletter

If you want to be a consistently successful investor, then you must channel your inner Eckhart Tolle and focus on now. Stay with me; Im not going to launch into a diatribe about mindfulness. But what I can tell you is that if you focus on better understanding what is happening right now, you will see both opportunities and risks that most market participants miss. Focusing on now helps you better handicap the probabilities of various scenarios in the future.

This now approach is in stark contrast to most investors, who either look in the rearview mirror at three-month-old data, or focus on forecasts in an effort to predict what will happen months in the future.

Successful investing is not about forecasting the weather for tomorrow, but instead about noticing if its sunny or raining today.

Last week, investors were caught driving while looking in the rearview mirror when the initial estimate of U.S. Q2 GDP was released. Folks, we are a third of the way through Q3. Who gives a rip what happened in Q2?

Not only is this data point as dated as my last relationship, but its also going to be revised 700 times over the next six weeks.

Continued here:
Driving while Looking in the Rearview Mirror - Moneyshow.com (registration)