Right now it looks like more consolidation today in the stock market. The market was up +7 on the es contract overnight and is now back to around unchanged 45 min before the open
The market has been numb to geopolitical events as it seems nothing effects it. This will change. But for now enjoy the ride. Terrorist attacks are no commonplace. Countries getting aggressive just another day, national debt skyrocketing…no big deal, Russia, and china with joint military exercises in the S. China seas….piece of cake.
You get the picture. They say ignorance is bliss. I have never thought that but in the world today it might be 🙂
I am back to maneuvering around this market successfully with periodic one day 5 to 10 percent stock gains. It does not take many of those to have a good month! These types of periods run in cycles like anything else. Let’s see how long I can continue.
I have said this for over a week now that the market is consolidating for another move higher. Nothing has changed. And that view is the one I am going to adopt for my short-term trading plan. I will be looking for more longs today and for the ones I have if they get a nice 5 to 10 percent one day pop I am going to take profits on them.
Typically this is a strategy for short-term swing traders now for intermediate swing trading. But now I am using the short-term strategy as it seems right to me considering what is going on tin the world. There are investors that would disagree with me but its my money and my investing and that is how I see it now.
For those of you, that want to follow some of my trading and get my thoughts shortly after the open you can follow me at @rickjswings. It’s my private twitter feed and is free!
Good Luck Today
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