In terms of market direction, there is a slew of both economic data and earnings reports out this week. It is worth your time to scroll down (right hand navigation pane) to the “Earnings Calendar” and “Economic Calendar” from briefing.com.
Unless there is some exogenous catalyst (e.g, Iran, North Korea), Monday will likely be slow and [...]
For traders with a directional bias, today was quite a FOMC day. We had mostly a slow day leading up to the Fed announcement as one might expect, followed up by a melt up of stocks after the announcement. But, unlike other FOMC days where the market really took off, the market seemed to kind [...]
With the market churning below resistance in the $107-108 range, I continued to short extremely overbought stocks today.
Yesterday I mentioned shorting PSDV and that stock behaved nicely today going down 7% from yesterday’s close. PSDV was a pure “RSI 93 trade.”
Today I shorted FFBC at $12.40 and MPG at $2.60. Both of these stocks are [...]