I think there’s a good chance that we get a small rally this week. This may be just into November but should be a tradeable rally. I’m watching the IWM and the SPX for a signal of going higher short-term. If oil looks like it’s bottomed, I’ll most likely look into GUSH or another oil ETF. This Market is very unpredictable right now and I am being extra careful. The Futures are mixed as I type so I most likely …Read the full article
We had very choppy markets last week and I don’t expect the seas to instantly calm this week. With that said, the major indexes seem to have pulled back to and bounced off of a lower trend line that I’ve illustrated here on the DJIA: In addition, RSI has come back down to a more reasonable level overall (45.8 for the DJIA). These are both signals that I look for to indicate green markets but I do expect continued chop …Read the full article
I sold my remaining shares of SCVL for a small profit. My sell prices on the remaining half that I just sold today are half at $38.32 and half at$38.83. I’m glad to get out this week with a profit. The markets have been whip-sawing and this trade has not been behaving as well because of that. Have a good weekend! We’ll get back to it next week.