Can the Stock Market rebound after the Clinton Yellen 1 2 punch?

Last week Clinton and Yellen both did a number on the Stock Market. First Clinton took care of Biotech and then Yellen finished the market off by some hawkish comments out of Jackson Hole.

This week, however, is a new one with the markets showing a small gain just 30 min before the open.

I am long a bit now with a 1/4 position in SPY, another medium term swing in a call, and still hanging onto my GLD position at break even after having a nice gain:(

As I see the markets this week they start with an upside bias. Quite a few of the methods I follow are pointing to a rebound here. If we get a pullback today I am going to consider adding another 1/4 position to my SPY trade.

All is quiet on the Geopolitical front with all that I have mentioned in earlier posts simmering in the background. Over the weekend I did not see anything new that has shown up to add or subtract from my list.

So today I plan on still taking short-term swings to the long side as they trigger. Once we get past September which tends to be the weakest month of the year I will consider longer swings.

One thing to note about stock picking and swing trading. A very high % of stocks move with the market. So it’s imperative to have a general view of the market in mind as a backdrop to consider in your swing trading individual stocks. Certainly, there are a few stocks that might defy the market as a whole but its similar to my analogy I use a lot…would you rather trade with a tailwind or a headwind.

There are many ways to view this but some of the best include swing longs when the market is oversold if you’re a mean reversion trader and swing longs when the index is greater than the 10-day moving average.

If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. 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


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