The stock market has stalled a bit but if your long the good news is it would be hard to call this a pullback by any sense. The other two positive things are the over bought condition of the market is being reduced along with the Fed regaining its sanity for now. So conditions are ripe for full speed ahead. Which of course can change with a pin drop.
My timing is back on track along with my trading. Before I left for Ca I put on a number of long trades and jettisoned my shorts. I already have sold 2 of the trades with substantial profits. As I just got back I have not had time to update my spreadsheets. In addition the other remaining longs are looking fine. Finally my gold play in GLD is showing a lot of promise now.
All Is good:)
What could derail this market? Top on the list would be Turkey. Than under that maybe about 20 or 30 items. But for now in the very short-term I think we go higher and that is how I am going to trade it.
Got back very later last night so cutting this short so I can get ready for the open.
If you would like to follow my trades just follow @rickjswings. Its my private twitter feed and its free.
Good Luck Today
RickJ’s Handicapping Picks