Morning Thoughts from Vegas Posted at 9:05 AM EDT

Good morning everyone from the Las Vegas.

Top of the morning friends.  This run has been extremely hot but we all knew it could not stay like this much longer.  This morning the Dow futures are suggesting a gap down of about 50 points and although its a bummer to see some selling that’s just what I was hoping would happen.  A healthy pullback could and most likely will setup some very good entries.

This has been a very long time coming but I believe the bulls have taken control and will remain in control through the end of the year.  However, because this was and extraordinary run up don’t be to surprised if the selloff seems a bit harsh.  There is no doubt that the market has been fueled up on heavy emotion after the Trump win.  Emotions can switch very quickly and possibly over do it with the selling as well.  Soon cool heads will prevail and the price action will settle down in a trend that personally think will be bullish.

I think today the best thing to do is manage the positions that you are in and avoid adding new risk.  Again this is exactly what needs to happen so quality entries with stops set just below new levels of support.  Also keep in mind that a consolidation that sets a level of support is just as good as selloff, so it we simply pause and rest for a little while we should be able to find very good entries.

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.

Have a fantastic day.

Trade Wisely,


Comments are closed.