Good morning everyone from the Las Vegas.

I was quite surprised to see another record high yesterday.  About mid-day I was able to login and saw that low was really moving lower and the the tech’s were having trouble I fully expected to see a negative close at the end of the day.  As always the market has a way of keeping you humble!

This morning we have the big Retail Sales numbers that have the potential to move the market.  There is also the empire state mfg. and import export numbers but unless they turn in a very big surprise its unlikely they will have much of and effect.

I looked at a lot of charts last night (maybe around 1000) and see so many that are very over extended that I can’t help but thinking a pullback is way overdue.  Chasing into a run like this can be very dangerous unless you are nimble so at this time I am not recommending new option trades.  When the pullback comes we will have great entries near new support levels rather then chasing in at what could be new resistance.  Having said that I do have a short list of stocks that could easily turn into trades if you have the ability to watch them during the day so below is a list to give you some ideas.

CVCA, MCRB, NRG, CCJ, CIE, ANET, IGT, RIG, BMY, VLO, PAY, MOS, SBUX, LBLA, NAV, CBS, CC, BEAV.  From this list my favorites for possible trades today would be IGT and BMY.

There is no video attached to this email because I don’t have the ability to produce them on the road.

I wish you all a fantastic day of trading just be watchful for a pullback soon.

Trade Wisely,

Doug

Good morning everyone.

The run up after the election has been truly amazing but it is now getting overextended in the short term and we should not be surprised if the market begins a pullback soon. Make no mistake I am not bearish on the market, as a matter of fact, I have not been this bullish for more than a year. If and when we get a pullback should be the time when the very best trading will be available. We will be able to get in with stop loss orders very close to minimize the risk and for the first time in a very long time have an actual bullish trend in the overall market. So be prepared for a lot more trading if that does come to pass as I’m expecting. Keep a close eye on the QQQ, with the troubles it had last week it could be the clue that gives us a heads up to the beginning of a pullback and be the leader down.

This week keep an eye on the economic news. There are a bunch of reports mid-week that have the potential to really moving the market around. There are also Fed members out speaking every day this week and as you know they can really make the market react wildly at times.

I am leaving for the airport this morning and will be at the Money Show in Vegas the rest of the week. That means I will not have the ability to conduct the 2-hour RWO sessions every day. They will resume next Monday.

The Morning Thoughts will be in text version only because I will not have the ability or the bandwidth to make and produce videos. I highly recommend logging in the RWO members page every day. You will find the text version under the Morning Videos tab.

Any new trades you will find them posted under the Trade Alerts tab in text version only. Please go there every day to check for new trades. All the trades this week will have to be planned at night. I will not have the benefit of watching the market open or seeing the pre-market activity. Each of you will have to manage any new trades as you see fit as I will likely not have access to the market from the show floor to be able to monitor the trades intra-day. I, of course, will review all trades in the evening and post updates as necessary.

Have a fantastic week everyone.

Trade Wisely,

Doug

Click Here to Watch the Morning Video

Good morning everyone.

This has been one amazing week.  If you’re like me you are so happy to have the election behind us and the market moving again with and abundance of bullish energy.  I’m now expecting some very good trading ahead of us at least through the end of the year.

With the market having moved so far so fast it would not be out of the question to see some profit taking as we head into the weekend.  However, with the SPY and the IWM still wanting to reach out to new record highs the possibility that the bulls will continue to run still exists.

For me, I will maintain my discipline wait for pullbacks and enter trades where the risk to my stops has been minimized.  I would like to say thank you to all the members of Right Way Options for hanging in there during this tough market.  I can promise you I will be working hard to make sure it was worth the wait.  Have a wonderful weekend!

Trade Wisely,

Doug

Click Here to Watch the Morning Video

Good morning everyone.

After the overnight temper tantrum, the market decided to embrace the leadership change in a big way with an unbelievable rally.  That exuberance seems to still be in play this morning with the futures pointing to another gap up.

Right or wrong I am going to maintain my discipline and avoid chasing stocks that are already very extended or those challenging resistance.  In years past I would have jumped into trades thinking, I was avoiding the pain of missing out only to step in right before the pullback where the cost my capital was the greatest.

There are a lot of good looking charts so I recommend sticking to your rules and avoid taking an unwarranted risk, it will settle down.  I do however think we are seeing the beginning of a fundamental change in the market that is very exciting.  I expect we will soon be doing a lot of trading.  Watch your email for possible trades.

Trade Wisely,

Doug

Click Here to Watch the Morning Video