Morning Thoughts from Las Vegas Posted at 9:17 AM EDT

Good morning everyone from the Las Vegas.

The last day of the show so Monday everything will return to normal operation Monday morning with morning videos and in the RWO room we will crank it up and get back to training.

The market sure has a way of keeping us humble.  Yesterday I suggested that further pullback was possible and that financials being so overbought could lead the way.  As you know it turned out just the opposite with the market closing up and financials led the way.  This morning Dow futures are just slightly lower suggesting a little weakness at the open but Friday’s have tended to be pretty positive of late.  The one thing tossing caution into the mix today is that it’s option expiration day which means anything is possible and the price action can be a little wild.

I know it’s tempting to chase right now but would encourage you to not do so.  We all know that stocks will retrace in due time.  Chasing is a bad business and can get you in just before the pullback putting in you in a losing positions right from the start.  At times like this it is far better to maintain your discipline and wait for the better entries.

A few charts that are setup to move.  ANF, TSCO, TTWO, CARB, AGX, VSTO, SWKS, BMY, AMKR, PCRX, GIII, ZOES, EDIT, VHC, RT.  There of course are many others that loop pretty good but to be honest yesterday was so busy I didn’t get nearly as much tome to look at charts as I would have liked.

FYI; there is no video attached to this email because we are at the money show in Las Vegas. Videos and normal operation will return next Monday. Thank you for your understanding.

I wish you all great trading today and an awesome weekend.  See you Monday!

Trade Wisely,


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