Monday morning in the stock market and a gap down?

Its 30 min before the open and it’s looking like a gap down in the stock market. Whether this is related to the WikiLeaks release of 20,000 DNC emails over the weekend is too early to tell:)

Politics as long as you do not take it seriously provides a daily dose of laugh out loud humor. If you take it seriously it might push you over the “red line”

In after hours on Friday I went long GLD. It’s a system trade for me that has a very good risk reward ratio. Similar to the SSO RSI2 trade I made a few days ago that turned into a day trade.

Ideally, we get more of a pullback early this week which should give a good entry to trade to the long side. My thinking is the stock market has at least one more substantial push to the upside. But that sentiment needs to reverse a bit before that happens. It’s alway a question of timing  of course.

If you have thought about sitting down and going through the top 5 free trading websites I have listed then set aside some time each day and get to it. The top site puts out invaluable ideas every day. Right now, in my opinion, there is very little that is close to the information it provides that can be quickly adapted to your trading routine. I have 0 financial interest in the site nor do I know anyone connected to the site. I merely call it like I see it. And now I see Tradeciety.com and easily the top free trading site out there.

I am going to cut this short again this morning as I still have a lot of pre-market work to do. You can follow many of my trades at @rickjswings. It’s my trading private twitter feed and it’s free.

Good Luck Today

RickJ

RickJ’s Handicapping Picks

 

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