Good morning!

Last Friday I felt like I was coming down with a cold and by Saturday morning it hit me really hard.  This morning I’m still really sick and due to all the coughing I have no voice.  Because of that, there will be no video attached and I will have to cancel the RWO room today.  I will, however, be around all day motoring trades and looking for new entries.  Please understand any new entries will have no video but I will put together a text version.  Sorry for the inconvenience I don’t expect ti to last long.

This morning the Dow futures are pointing to a slightly bearish open and I think it is time to watch closely for the potential of a rollover.  Let me be clear, I am not expecting a rollover but the failure to breakthrough 20K makes me want to watch closely for signs that the bears are taking over.  Let’s keep in mind that the QQQ is looking very strong so it’s not the time to run for the doors just yet.

We have a couple Fed speakers today and some bond auctions but other than that the economic calendar is quiet and pretty much remains so until Friday when we have several big reports.

The positions in BMY and MSFT are both in very good shape. With earnings approaching I will be working out plans on how we will handle this positions this week.  As you know I hold several stock positions holding modest gains a couple positions holding modest losses.  Such is the nature of a consolidating market if it could breakout I would likely have some very nice profits but if it breaks down I will need to capture some small gains and avoid letting the losers get out of hand.  As always the first and foremost thing to do is manage the positions that you are in!

There is no video attached.

Trade wisely,

Doug

Good morning and Happy Friday!

This morning’ market is all the Employment Situation report that will be out one hour before the market opens putting us retail traders at a major disadvantage.  After the number, the market will react and of course, there is really nothing we can do about it.  There seems to be a little concern that we will see a number softer than expected.  The target is 178,000.  I fit comes in higher expect the market to move up, however, a print lower than 150,000 would likely bring in the bears.

All we can do this morning is to manage the trades that we are in.  The reaction to the number is out of our control but if we remain calm and follow our rules everything should work out just fine.  We also have International Trade numbers and Factory Orders coming out this morning that could a small influence on market direction.

The next hurdle is that we have 4 Fed speakers today.  I doubt we will hear anything new but as you know all one these folks has to do is suggest that they believe we need another interest rate hike soon and the market will react in about half a heartbeat so it would be wise to remain flexible, stay on your toes and be prepared to react is necessary.

Have an awesome day and a fantastic weekend!

Trade wisely,

Doug

Click Here to Watch the Morning Video

Good morning RWO!

Yesterday’s bullishness had the market dreaming about Dow 20k again but the jobs numbers tossed a monkey wrench into the gears of advancement.   We will likely see just a little bearishness this morning but I’m expecting the market to become very choppy this afternoon.  Before the market open tomorrow we get the really big jobs number, the Employment Situation number and I suspect with the data this morning we will now see a pause as we wait for that number.

Be careful today and let the market settle before entering new risk.

Trade wisely,

Doug

Click Here to Watch the Morning Video

Good morning Traders!

It was encouraging to see the bull finally push back yesterday afternoon allowing prices to close mostly above support levels.  However, I have to admit that I’m starting to become a little concerned that the bears are gaining some strength.  I think the bulls had better get to work pretty soon or they will fully give control over to the bears for the short term.

Today we have the ADP report before the market opens but it would have to be a really big surprise to move the market.  The big news today will be the FOMC minutes at 2 PM Eastern.  I find it hard to believe that the market is in the dark on what the Fed members are thinking about with them out stumping all the time, but it is possible that the market goes into a low volume chop today as we wait for the report.  After the report, we can normally expect a burst of volatility before settling into a direction.

Futures are once again suggesting a slightly bullish open but as always it would be a good idea not to chase.  Lately, early pops have bee sold into so let’s give the market a little time to settle in before considering additional risk.

Have a profitable day.

Trade wisely,

Doug

Click Here to Watch the Morning Video