Yesterday I said; “Trying my hardest to squeeze more out of the trades we are in besides a day trade.” Today, we did. And we flipped to the other side because once again market makers decided to take the market lower and they did by 350 points. It’s very difficult to flip sides when you have conviction we are going higher and you have to understand this isn’t easy to judge, but I am convinced we move higher, although not willing to tak the overnight risk. Why do it when you have this type of reversal twice in a row? Plenty of profit up to 2720 area if we get long tomorrow. I almost wish for a move lower tomorrow morning but futures are already up 10 points. 10 points though is nothing and we’ll see what tomorrow brings.
More below on the sectors.
GREAT DAY AND I WANT MORE! I DO FEEL I AM IN CONTROL NOW AND IF YOU NOTICE THE STOPS ARE GOOD, LIMITED, EXCEPT FOR OIL WHICH WILL REBOUND.
Economic Data For Tomorrow
http://www.investing.com/economic-calendar/
Still bullish the market and hope to have a fun day tomorrow either side. Slight lean bullish until we get to 2720 so buy the dip mode. I hope we open lower but so far 10 points higher in /ES. That’s ok. Plenty of profit higher. Please note that TQQQ joined SOXL. Have to lean bullish now.
Foreign Markets
BRZU we killed it the last 2 days. I am narrowing the up and down movers here to the ones I like the best and up we have BRZU and down YANG. We’ll continue this pattern as what I have learned is if you work with the biggest movers, the best profits can come to us. Notice how overall BRZU is out performing the U.S. counterparts.
Interest Rates
TMV up a penny. Expect more.
Last night I said about DGAZ; “it is ready for lift off possibly.” Wow did it ever. But one more day should get a reversal.
UWT started the day great, but then data killed it even though at first it tried to rally. End of day it brought market lower I think. UWT higher tomorrow and it says go long stocks as well. 56 still the goal.
Precious Metals and Mining
Flipped to JNUG today with a little strength in metals. Not much room higher but will play either side depending on dollar.
As much as I like a strong market tomorrow, we have to be leery of SOXL. Also UGAZ might be a good bounce if DGAZ opens higher.
