What a boring stock market this is. All it does is go up every single day! Of course, if you’re long you are thinking about your next vacation somewhere very expensive. If you’re short you are most likely surveying a nice elevated bridge to consider jumping off:)
Well not that bad but I imagine many are bewildered by this rally. All you need to know is the floodgates are now officially open. Except of course for the U.S. where every chance the Fed gets they talk about interest rate hikes. But interestingly enough the market has heard them cry wolf too many times. So at least for now I do not think they can derail this unless of course, they do indeed hike rates.
But do not forget one of the reasons the U.S. debt is palatable is the short-term rates. If they were to skyrocket think of one work “Default” Is it that bad…some one think so. Say Jim Rodgers.
It would take a steady and highly advanced hand to lead the U. S. and the world out of the financial minefield that has set up. My thought would be Milken. After all, Ted Turner hired him to take care of his sale of CNN. Irrespective of his felony record( He would fit right in ) his financial brilliance is what is needed at the moment.
I do not see any around at the moment. That is not to say someone might come forward but in this political climate you would have to be a complete moron to jump in and offer to help.
But back to immediate issues like when is this rally in the stock market going to end? My thought is we are still in blow-off mode. and It’s most likely going to get worse. My only trade of any worth lately has been my short of TLT But I have some other shorts that, to say the least, are taking a bit of a hit. And most likely will be stopped out today if we get a continuation to the upside.
I will be looking for a day trade long in the stock market. My last two have been spot on. Other than that its respect my stops and see what develops today. Fortunately, my position sizing along with money management is under control:)
Finally, I have gotten a lot of positive feedback about my top 10 list for free trading sites. I have also received emails with recommendations to add to the list. I will look them over in the event I have not seen the site. Thanks…I appreciate all the comments!
You can follow most of my trades at @rickjswings. It’s a private twitter feed where I post a few comments shortly after the stock market opens and post some of my trades that I make during the day. It’s free and most likely will remain that way as long as I do not have the time to devote as much of myself into it as I devote to handicapping sports.
Good Luck Today
RickJ’s Handicapping Picks