We have had quite a week in the markets and we are finally getting into bullish territory where its time to start accumulating some positions for an upside move.
I put on several positions yesterday only to sell 1/2 of them on the close as there was no follow through. I did keep on the other half of my positions which premarket are looking fine.
Nothing on the news front and the market survived another batch of hack emails. Sooner or later its going to catch up with the markets. Since Wikileaks is not done releasing the hacks and Assange promise some very damaging emails I suspect that whatever the revelations are they will have the potential to be market moving.
On the bright side this last week has put the nail in the coffin of a rate hike, at least until December after the elections.
We are 30 min before the open and so far it looks like we are about unchanged. The market has dropped from its overnight highs which were 5 to 6 pts higher in the ES.
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. 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
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