Good Morning Friends!

Pretty much out of the things say about this market as the holiday draws ever closer.  Expect more of the same.  Light volumes, choppy action after a morning pop responding to the economic news.

Work on watch-lists and trading plans.

Trade Wisely,

Doug

Click Here to Watch the Morning Video

Good Morning RWO it’s hump day!

Yesterday we saw the bulls make another push toward the big round number of 20K, closing less than 70 points south of it.  Our option positions. as well as the stock positions that I have been covering. are all doing quite well.  Although common sense would suggest a pullback is in order, there is no evidence in the current price action of the indexes pointing south just yet.  As I always suggest, following price action is better than trying to predict.

Today we have housing and oil numbers that could move the market so keep any eye on the news at 10 AM eastern time.  From here on until the end of the year we should expect light volume choppy price action after the morning rush that normally lasts 30 minutes to an hour after the open.

This is a great time to build watch-lists and refine them.  For those just beginning work on the patterns you intend to trade, goals, risk tolerance etc..  Manage the positions that you are in but it’s time to slow down on entering new positions.  Be very picky.

Have a profitable day.

Trade Wisely,

Doug

Click Here to Watch the Morning Video

Good Morning everyone friends!

Yesterday turned out to be a typical trading day ahead of a major holiday.  Anemic and choppy.  Although there is a possibility the could get inspired and reach out for 20K at anytime we should also be planning for the very real possibility that it goes nowhere until after Christmas.

Speaking of Christmas I will be taking the day off to get some shopping done for my wife.  I will be here for the first hour or so this morning but will likely be gone the rest of the day.  That means there will not be an RWO room today.  The video is longer than normal today because I wanted to cover some of the stocks showing patterns that may set up trades today.

Wish me luck because just typing the word shopping makes me feel a bit ill

Have an awesome day.

Trade Wisely,

Doug

Click Here to Watch the Morning Video

Good Morning everyone and happy Monday!

I always look forward to the weekend but about the time Sunday rolls around I’m always looking forward to the market opening and getting back to my routine.  Last week ended with the market sputtering and consolidating after the rate hike simply running our of energy.  I wish I could say strap in for a bullish ride this week but the truth is as we get closer and closer to Christmas the chances of light volume chop increase as a general rule.  However, this year we have the Dow wanting to reach out for a 20K print, so there is always the chance that the bulls get inspired and make a push for that record level.

There is nothing on consequence on the economic calendar until 1:30 PM Eastern time when Janet Yellen speaks.  Although it’s unlikely she says anything that will move the market you never want rule out the possibility, so keep an eye out during her speech.

Wishing you a profitable day.

Trade Wisely,

Doug

Click Here to Watch the Morning Video