The stock market is unchanged 30 min before the open.
Not much of note except financials are slightly higher.
TUR a bottom reversal trade that is looking great.
TLT a mean reversion trade that is in day 3 and underwater by 3/4%. I have a third position on in this one.
XNCR, a mean reversion trade that I have gotten stubborn on. I am expecting a big biotech rally soon and this one should take off.
GLD, a system trade that is slightly underwater, this trade exits when the system tells it to. The trade takes into consideration a variety of variables.
Today starts the best 10 day stretch of the year for the markets. Typically you could use darts to pick your trades and come out on the upside the next 10 days:)
However, I like to think that when I make money it’s because of my brilliant stock picking as opposed to pure chance.
The DACA issue has been kicked into January. In addition, with the holiday season here perhaps the special counsel will not leak market-moving rumors.
The president signs the tax bill today and typically we get a leak on Friday that changes the narrative. It will be interesting to see if that pattern holds today. So far, I have not heard any market moving leaks. But its early:)
The only reason there might not be any leaks this time is that there is quite of bit of heat on leakers. It has become a risky proposition for leakers right now. So perhaps they will settle down.
I will be looking this morning for a trade or two. My real portfolio is overweighted right now in stocks. I typically do this starting mid-October and look to exit mid may. The only year this has not worked out was when the U.S. had the debt downgrade. Cost me, to say the least.
See you on the open at @rickjswings
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
RickJ’s Handicapping Picks