Good Morning Right Way Options!

Yesterday turned out to one for the record books as the markets.  Already over-extended the bulls put on a show force that was truly remarkable.  Markets around the world reacted higher on the back of the US bullishness and yet this morning futures are pointing to a higher open.  Incredible!

The only thing on the economic calendar of consequence is the weekly jobless claims.  I think there would have to be a huge surprise in the number to move the market this morning.

I will on the lookout for a pullback today but we could easily just consolidate.  I took some profits yesterday and expect to be taking more of the gains first thing this morning.  Taking profits is a very personal thing and if you decide to hold just make sure greed doesn’t get the better of you.

Have a wonderful day!

Trade Wisely,

Doug

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Good Morning Traders!

Although the day started off with a little selling yesterday finished strong with the SPY and the IWM closing at new record highs. The bull continues to be strong but is does show signs of slowing it march higher so it’s wise to not chase stocks that appear over-extended.

Today in economic news we have the JOLTS report and the petroleum status numbers. I would keep a close eye on the oil number today, if we see a build i supply oil could move quickly lower taking the market lower with it however if we see supply diminishing then it could provide us with the fuel to power the charts higher.

Remember we have have a massive economic new day coming next Wednesday. As we move closer to that big day don’t be surprised to see the market lose direction and become a bit choppy. There will likely continue to be some good trading with stocks that were a little slow to rally do some catching up during this period.

Wishing you a profitable trading day!

Trade Wisely,

Doug

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Good Morning Friends!

Yesterday was sure a nice surprise with the market pushing higher as the QQQ, IWM and SPY recovered slightly from last week’s slight bearishness.

Today the futures are basically flat across the board.  We have International Trade, productivity, and costs as well as factory orders in the economic new this morning however unless we see have a big surprise number I doubt they will have much of an effect.  We have now entered the quiet period ahead of the FOMC next week.  That means no more Fed speak until Yellen’s press conference next Tuesday.

I think there is a good chance we will see the indexes get quiet and choppy until next Tuesday as well, however, that does not mean there will not be some nice trading in individual stocks as long as we remain positive and avoid dipping ahead of the FOMC meeting.

Have a great day my friends.

Trade Wisely,

Doug

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