“If you don’t follow the stock market, you are missing some amazing drama.” – Mark Cuban.
You have to love Washington’s market timing as they wait until 3:30 on Friday, after a crappy, week to insert more angst and anxiety into the hearts of traders. Chew on this, have a nice weekend. It was a frustrating week, but when you think about it, we only lost 20 ($SPX) points for the week. The market could have really taken a hammer to its cranium but didn’t. As a matter of fact, the Russell 2000 ($IWM) came close to new highs and the Nazzy ($QQQ) held very well.
So far the bears really haven’t been able to grab a solid foot hold. Of course this could change, but I think they had their shot at it last week to make a statement and they really couldn’t. Debt, ceilings, government shutdowns and uncertainty about Obamacare were all front page news and the bears couldn’t go for the brass ring. So if not now, when? It’s still hard to fight the Fed. Our version of the Cypress crisis.
The bears get small windows from time to time but wont lay real wood because the bigger picture is bullish and they know it. Dip buyers screw them every time. Why bother.
I’m looking for a big finish but it wont be easy because this market rotates more than a cloths dryer. Stock selection will be key.
Listen, the final quarter of the year starts Tuesday, we also have third quarter earnings that start in a couple of weeks. There will be opportunities all over the place, so I would like you to become a member to this site, try a free trial, and kick the tires. You can request performance any day of the week right here and the free trial link is here
What you get as a Premium Member:
- Real Time trading room that I personally moderates. I give sets ups and posts live charts with analysis daily in the room, so you will learn pattern recognition which is key.
- Profit and Loss table that is updated every night on blog
- Market recap every night.
- In depth market video every Sunday. (I will be starting video reviews nightly starting Monday which will highlight big movers and new ideas)
- New swing trading ideas during the week with entries and stops. Entries, when to sell, and stops are part of the program
Have a great weekend and thanks in advance, hope to see you on the team.
Joe