Things are never dull when your trading the stock market. After a blistering news week, this week starts out with what promises to be another headline week.
Monday we started off with the House Intelligence Committee finding no Collusion and today we learn that Rex Tillerson is gone.
And we are just on Tuesday:)
Now Trump is in southern California looking at wall prototypes. While everyone else is scratching their head and trying to figure out what to do next.
Now you might ask how does the market respond to all of this perceived chaos? +150 this morning on the dow!
So one might ask what will it take to finally put a nail in this bull market. It’s very simple. Mueller and Congress.
Those are the ones to keep a watch on. I suspect the fireworks are not over as the Senate Intel committee is not giving up the ghost and Mueller has no indication of quitting anytime soon.
I sold my last mean reversion trade Monday morning in UNP for a nice gain.
Now I am flat on trades I have shared online, and I doubt this morning will give us any trades. We are short-term overbought which takes away the swing setups considerably.
In my morning reading I read a great quote:
“The end goal is not to eliminate uncertainty; it’s to correct the underlying flaws in your logic that forces you to need certainty when you can’t have it yet. Without uncertainty, there is no risk. Without risk, there is nothing to gain in poker, no edge to create, and no profit to be made.”
The is from “A Mental game of poker” by Jared Tendler
It applies not only to poker, but swing trading and sports betting. Its most likely one of the most important concepts to understand.
I am going to cut this short this morning as I got off to a late start.
Have fun trading today!
If you want to follow some of my trades along with 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
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