Thursday, November 2nd, 2017

Ahead of the job report.

The market is zooming up 200 points on Dow and SPX 22 points as of this writing on 03/03/11. We are back in the groove. If you watched my market video last night I mentioned it that if we snap back we will be back in the rising channel and that is what has happened here. Looks like we have not broken the trend after all. …Last night things were different.

Friday 03/04/11 is a big day for the market and depending how the job report comes the market will move in either direction. No one knows that and I cannot predict it either. Usually what I have seen lately is , if we have an up day like today, next day profit seekers raid the kitty and take out all the nickles and dimes and plunder it to nothing.

Well, being ________ market players we are keeping our power dry for tomorrow and which way the market goes will determine if we take new positions or not. If its down 100- 200 points on Dow that will be a bargain time for us to start some juicy positions, if it goes up 100 + than we’ve missed the boat. That is better rather than being caught in this daily melee of nasty profit takers and and staying down on our accounts and feeling remorseful.

NFLX is bouncing off its 50 day moving average today and CMG is also making progress nicely. RUT is back in its trend and moving higher from here.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

*