6:00 A.M. Update
I have added #5 of the free Stock Market Trading sites this morning. McClellan has been a leader in sentiment analysis for as long as I can remember. His articles and insights are invaluable for a serious trader to learn and understand. Many of his sentiment indicators are ones he developed himself as many in the field look to him for guidance in interpreting various sentiment swings. He is well-known for his McClellan Oscillator which is widely used today and quite accurate at establishing potential mean reversion points in trading. Read and enjoy it!
I have received a lot of positive comments on my list and welcome any questions or further comments.
The odds say either a consolidation day or another pullback day in the stock market. But this pullback should be very shallow. I am tempted to start longs and just take whatever downside we get within reason. But the prudent course is to wait for a bit more downside.
Sentiment readings are far from recovering from their frothy condition. So I doubt the market is going to accommodate the heard:)
I got stopped out of a trade I had on for quite a while yesterday on the long side. And now have on two short positions both of which are getting close to an exit.
So today I am going to evaluate the trading for a spot to get long on a few trades I am watching. If I decide not to then I will wait for a bit more downside to start getting in.
The Republican Convention is now over and the good news is we only have to endure one more convention. Fortunately there was no loss of life (which was a long shot to say the least)
As an Independent I am starting to get very disenchanted with the course the U.S. is heading upon. Usually I have some answers but this time they escape me.
Ok…no politics….and by my comments I in no way intend to infer any opinions on either party or political figure.
It is probably best to model “Rick” in Casablanca!!! At least for the first 90% of the movie:)
If anyone has an interest in the NFL or College Football this season I have a special going that is very good. If you have any doubts about my handicapping abilities just take a look at my 8 year record in both sports which I have made easy access to on the front page of the site. In addition are my documented results from The Sports Monitor of Oklahoma from last season. It’s a serious sports monitor and is quite expensive to have your plays documented there. But finding a good handicapper is like finding a needle in a haystack. So what ever documented proof you can give is important.
Also the special is set up completely on the first page of the site. If anyone has any questions just drop me an email.
Good Luck Today
RickJ’s Handicapping Picks