4th of July weekend. Is the dysfunction of the world finally going to derail the markets? My thoughts.

4th of July weekend. Is the dysfunction of the world finally going to derail the markets? My thoughts.

As we approach the 4th, the markets are holding up very well. Technically we are right in the middle of neutral on the markets.

This morning we are looking at a decent gap up across the board at around 1/3% in the indexes. TLT is +.20% and Vix.x is +.70 % finally crude is +.84%.

A mixed bag but overall a positive premarket. In addition, the 4th of july time tends to be positive. So, I expect a solid up day today.

I am long a variety of positions, along with my core interest bearing position. Also I am short NKE puts a year away. At the very least I expect a short term reaction to the negative sentiment developing toward the company. How long this lasts remains to be seen.

I most likely will only be managing my trades this morning, as I have quite a few short term trades on. My system trade went long GDX yesterday. Those are the easiest to manage as you just wait for the signal to exit. Its all programmed. The trick is not to give in to 2nd guessing it:)

On the news front something strange happened yesterday between Russia and the US.

A Russian sub had some problems, and there were rumors of some confrontation between Russia and the US near Alaska. Combine that with Pence being called back from a flight and the first lady being sent to a secure place, leaves a lot of open questions.
At home, the weekend is shaping up to be a volatile one. Acid attacks promised by Antifa in DC on the 4th. Demonstrations across the country regarding keeping the border open. And a big 4th of July rally in DC. I rate the potential for violence at being very high this weekend.
The liberal courts also again put a roadblock on The White House trying to control the border. This time a federal judge from the 9th ruled that 3 states could not keep illegals in detention. 
Then there are the trade deals. Already the spin is coming out that the NAFTA rewrite is not good for America. No doubt that means Congress is not going to approve it. That would be very bad for America.
So a lot going on:) Almost like watching an episode of 24:)

As a part of my sports handicapping subscription, I sent out almost all of my trades via Viber. This has been a nice value-added feature of the handicapping service. At $49.00 a month for all sports plays I handicap, you get most of my stock trades.

If you want to follow some of my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.

It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)

Good Luck Today

RickJ

RickJ’s Handicapping Picks

https://rickjshandicappingpicks.com/investing

Skype: Ricca

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