This is already turning out to be a volatile week, and I don’t anticipate that changing anytime soon. Starting tomorrow, we have earnings reports from LMT, AMD, AAPL, and AMZN, MSFT, and TSLA later in the week. Here is my game plan, and how I’m setting up for this week.
As much as it’s talked about, “buying the dip” is a non-consensus trader. Think about today’s “dip” in the S&P and Dow. The dip never comes with good news… yet it’s a better risk/reward than buying at new highs in a trend! Gold is confirming that “buy the dip” is valid and in this video I explain why and where.
As we are going into February, it’s time to begin rebuilding our futures watchlist. In this video I share what the list looks like, how we’re building it, and how we confirm the trend.
AAPL has been one of the strongest stocks of the recent rally and I have no reason to think they won’t report great earnings next Tuesday. How high will it go? That’s really the question, and I’ve got a spread that works well for bulls and bears alike.
SPX saw a significant drop on Friday and may have triggered the beginnings of a deeper correction. There are stocks that I am going to continue to buy, but there are some important market nuances you want to be aware of as we get into February expiration.
The signs from a strong Yen to trading below the HPMR resistance and the VWAPs were there… know the signs, get your directional focus, and days like today are a gift.
The daytrade shorts were great but they also set up pullbacks in the RTY, XLY, XLF, and more. We always want to be opportunistic and today was a great day for bonds and gold trend followers.
