Is the Stock Market getting ready for liftoff???

Since Friday it’s been sideways to slightly down in the stock market. That is a good thing if you’re a thinking swing trader. Markets do not usually go straight up. Typically in a normal market (whatever that is) you get a push higher consolidation or pullback and then a continuation to the upside.

That is where we are at now. I am long a small basket of stocks. Baba is turning out well as it’s up over 5% in pre-market trading. Always nice to see one of those before the market opens:)

I also have my position in gld which is a pure systems play. This trade has been very solid over the last 5 years. These systems usually do not last forever but this one along with several others have been my bread and butter.

My plan now is to add positions within my parameters for the next move higher. Typically when you do that you rarely catch the exact time so expect to be in the red for part of the trade. We have been very fortunate the last several weeks as our breakout trades have performed very well despite the fact that about 90% of the time we have gone sideways.

For news, it seems we are in a quiet time. No doubt there are trouble spots starting to bubble many of which I have covered the last few weeks. The idea is to follow most and not be surprised when one comes to the front. It’s hard to stay ahead of the curve on the news but some events are actually predictable when you consider human nature and how it reacts to these events. The best was the debt ceiling talks as an example of how money can be made on news items.

Enough rambling this morning:) If you want to follow my trades and comments go to @rickjswings. It’s my private twitter feed and is free. I post some of my trades along with several comments after the market opens.

Finally, the day has arrived. NFL starts today. Granted its preseason however in the NFL there are preseason situations that tend to show very good results when backtested. In addition, there is a number that has passed my real-time requirements before becoming a play.

If you have not already signed up to join us for the football season go to PayPal and pick the subscription of your choice. All have a 3-day free trial. Or if you want some value you can check out the Football Season Special that ends on Sunday.

Hope to see you join us for a fun, exciting and hopefully profitable football season.

RickJ
RickJ’s Handicapping Picks

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