Transition of power over now in the U.S. !!! What else does the stock market have to worry about???

Transition of power over now in the U.S. !!! What else does the stock market have to worry about???

The transition is over now what is there to worry about for the markets? Plenty!!!

Top on my list of things to watch for the markets:

1. Sanctuary city battle between cities and the federal government

2. The approval of cabinet appointments

3. Moving the embassy to Jerusalem

4. The replacement of ACA with something else

5. The ever increasing fissure in the U.S. society between the left and everyone else. As to this the thing to watch is the boycotting that is ever increasing by both the left and everyone else

Now I am sure I have left a few things out but the above is what comes to mind this morning.

Remarkably the geopolitical landscape has settled down substantially from the very high DefCom rating before the election.

It appears most foreign governments are trying to get a handle on the new administration and it appears that most are looking in some way or another work with them as opposed to against them as we saw before the transition. We will see how long that lasts.

Another thing to note is it looks like Yellen is backing off of her hawkish views for the time being. If that is true it would be very bullish for the markets.

So to me we are in a seasonally strong period and absent a shock to the system we are headed much higher in the markets.

I feel any pullback right now is a good buying opportunity.

I am long GLD  from 108.25 and it is now trading this morning at 115.70. Another swing I have that has become a medium term swing trade is GEO. I am long GEO at 35.62 and it is now trading at 40.25.

So two nice gains and still long on both. I have other positions but they are a shorter term so far and have recently been put on.

30 min before the open there is not much of significance to note. A small gap down is likely confirmed with TLT up about .5%.

If we get a down day today I will most likely start accumulating a mean reversion trade in SPY via SSO. We will see.

If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. Typically I talk about the overall day expected with the markets and also give some levels on the ES and NQ for failed breakout scalping.

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’s Handicapping Picks

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