The markets are about unchanged as we are 30 min from the open.
Financials are mirroring the markets at about unchanged.
My GLD trade from 108.25 has again flirted with being stopped out. We just missed again and now this morning GLD has a nice gain premarket:)
At one point I had on about 15 swing trades at the high point and am now down to five + GLD. That is typically the way I manage the Trades. Trailing stops as we move up.
Not a lot to add this morning. The news is fairly tame. The only overnight news of consequence is Flynn resigning. That should have no effect on the markets that I can see.
The one item of consequence to follow is the temporary travel ban along with how things are progressing in the courts. This has the potential to be a market moving item. Myself I have very little idea how this is all going to end up. But keep a watch as there is news on this every day. The only difficulty is to figure out which news to get your information from:) Not an easy task nowadays.
My recommendation is Maria Bartiromo, I know she is on fox news which many feels have a right leaning bias. But she is no Hannity! She gives out good financial news every morning. Another that is issue driven. She has driven both the Republicans and the Democrats mad on her reporting from time to time. Sharyl Attkisson.
Between those two you should get a good picture of the issues of the day and how they might relate to the financial world of investing.
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