TRADING THE CURRENT MARKET
The class is FREE to all. If you have any questions you'd like me to answer during the class please email me at - firstname.lastname@example.org
Members get first priority as far as questions go, so please indicate in your email what type of member you are. If you are not a member, thats totally fine, I will try to get to everyones questions, though please don't take it personally if I can't get to all questions.
As far as the market goes, what can I say? We are in serious bull mode. Can't buck the tape. There are several catalysts this upcoming week;
GS earnings. They should blow out huge. I am in MS calls here, thinking MS can go to $30 target. Keep in mind, though, that we are extremely overbought short term, EVERYONE is bullish and GS is up 150% into earnings. They MIGHT sell the blowout. I think, though, for now, we are certainly buying any dips, so I don't want you to chase stuff.
I'm laying low, I can't do much. It's amazing, I get emails from a couple people Taunting me that we're going up, hehe. Too funny, I'm laying here in a heap of pain and I have to get an email telling me "DOW 12,000!" Like I'm a Bear or something, hehe.
Thursday I traded and made 2 calls for the room, WFC LONG and MS calls. BOTH were very nice winners obviously. Let's remember, we're TRADERS, and thus I am a whore. I will go BOTH WAYS. I guess I"m a bisexual whore, hehe!
This week should be very whippy and volatile. DOn't get caught either way. There's still a lot of reasons we can get a further move up, BUT there are several why we may pause and go down here.
Part of the runup last week was due to Window dressing reversal. I've done several DVD's on Window dressing and detail this very strong trend. Funds were/are vastly underweight the financials and in a new quarter, particularly the 1st week, those stocks underweighted that sucked last quarter TREND to get bid up as the same fund managers who sold them last quarter not wanting them on the books, now buy them back, thus pushing them higher and higher.
So, now that the first week is over, it'll be curious to see if there is continued buying. I had said 8500 was a potential target on this move and we look like we may hit that sooner rather than later.
I lean long here, but only as a trader and I don't want to get caught swimming in the pool with the turd while everyone is exciting the pool screaming. You shouldn't either.
The class will focus on MONEY MANAGEMENT, current trading environment, and some potential plays.
Please email me; email@example.com if you have any questions for the class. Again, the class is FREE to all, and if I see a couple of plays, we'll be calling them as well. No promises on the plays, but I'm happy to give a couple if something stands out and it usually does!
See ya soon!
*I'll post the link to the class before Tuesday here.