Another boring day. The stock market is gaping up over 1/2%. That means the dow is up over 200 pts premarket!
Amazing to say the least.
Of note, Financials, IBB and TLT strong, Metals, U.S. dollar weak.
Right now I am riding out my holdings that I started accumulating mid-October of last year. I plan on holding them and reevaluating mid-April.
As to trades I have shared, there are none outstanding now. But I posted some stocks I am following in the last post. I still have them on my watchlist.
This week we have the DACA/Budget talks with a Friday deadline for the budget. My guess is nothing gets done before Friday except another temporary spending bill. So far the market is not the least bit concerned of a shutdown. Looks like that trade of buying on the shutdown scare is not going to happen this time. But its still early:)
We also have the IG report which was not released yesterday. What was released was over 1 million documents by the IG on Friday. So far not much news has been generated by this.
So, today it just wait and see. A gap up like this is very hard to trade intraday. Gap and goes happen but typically you either get a gap fill or a consolidation after a big gap up.
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