Another day another Gap to the upside in this stock market. This one, however, is a bit tame considering its only in the ballpark of .25%. Perhaps the weekend’s events are getting everyone a bit nervous with the attempted coup in Turkey and the threat of anarchy in the streets here in our own country the U.S.
But no problem, life goes on, and the market keeps going up!
This Turkey coup seems a bit suspicious to me. First, if anyone knows how to conduct a coup its the Military in Turkey. So the odds have to be in the neighborhood of 99% that if the military decides to conduct a coup its going to be a successful one. But this one was bungled from the start. Very suspicious:) In addition, the timing of the announcement is a bit suspect. within a min or so of the U.S. market closing on Friday. Perhaps Erogadan has a bit of money in the markets and did not wish to expose the markets to a free fall if the coup was earlier in the day.
Who knows but some interesting speculation for a Monday morning!
So where do the markets go from here? The odds of me are we get a pullback very soon which will be bought with a vengeance. But trading this scenario is a bit tricky. But I am going to do my best to get it a go.
I have a few positions and looking for some more trades mostly to the long side. We will see how this week develops.
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I am here to help give everyone some insight into trading and handicapping and make your journey an easier one than mine was.
You can follow my trades at @rickjswings. It’s free!
In addition, I am online at slack.com under Rickjsports. Stop in and say hi or feel free to ask any questions you wish.
Back to the markets
Good Luck Today
RickJ’s Handicapping Picks