We are in for one of the very interesting times when dealing with stock markets. Yesterday broader markets closed above widely watched 200days moving averages. It was also a 90% volume up day but more importantly the volume was below average. So is it a “trap” to convince everyone that a bottom has been formed? we’ll find out later. For almost 2 months I have been mentioning 3 points to watch especially on Dow and those are 10.7K, 10.3K and Feb’10 Low and it doesn’t really matter what either permabulls say or permabears says, nothing major is going to be achieved unless either extreme is going to be penetrated. Oh well, if you would like to read more about permabears, here is an interesting read.
What do I think? Don’t waste time in readings tons of media. Let Mr Market do the talking.
Here are the scenarios-
- We need to watch if markets pull back today, is it on heavy volume or thin. If it is later, chances are that it is going to move up.
- If Market moves above then 10.7K will come into play and we need to watch if it is moving beyond that level or not. If not, then probably stage is being set for a giant Head & Shoulder pattern.
So, no hard rain is coming until unless Feb lows are broken. We’ll take it as it comes. My bottomline, I am still trading options for both personal and OPN accounts but I am not buying any equity as of now.
Here is latest testimonial from one of the current OPNsubscriber. Pls click here to read more testimonials-
I’ve been OPNewsletter for a few months and my experience so far has been extremely positive. It’s an excellent tool to learn as well as to earn income utilizing conservative income strategies such as calendars, diagonals, and condor spreads not to mention frequent speculative trades that are not part of the official trades. Every trade is planned in such a fashion that all the entry/exit points and profit/loss targets are predefined with close attention to support/resistance lines, options greeks and the overall fundamental and technical pictures. All the positions are closely monitored and timely adjustments are made upon necessary. My understanding is that OPN reports returns based on the margins employed and I think it’s totally fair. Although I admit I need to do a better job using the monthly tracking sheet. OPN promises to deliver 5-7% each month excluding commissions and it usually delivers far more than that in my opinion. I’ve shared my OPN newsletter experience with a couple of close friends and I will recommend it to people who, I think, are well suited for. OPN offers an excellent value to those who are willing to put enough time, effort, discipline, interest and dedication necessary to become a winning trader.
Seattle, Washington, USA
Thank you Dan. I appreciate your kind words.
Pls click here to read more customer testimonials. If you are not an OPNewsletter member and would like to sign-up, pls click here to sign-up for the waitlist as OPNewsletter subscription is open via invitation only.
Profitable trading, OPКартини