Good Morning friends and Happy Friday!
Why is Friday always happy? Because that is the day we make an effort to put profits in the bank paying ourselves for the hard work of the week. Never forget that part of successful trading is learning to take profits consistently.
Futures are basically flat this morning as we wait for a couple big economic numbers and earnings reports. At 8:30 eastern we will get a reading and Durable Goods Orders and GDP. I’m expecting both to be positive but you never know anything is possible. I personally think these numbers will set the market tone for the day. Fridays and mostly been up days with all the good feelings heading into the weekend. However, you never want to count on that so make sure you are managing the positions you are in first.
As you know from time to time I will add new positions on a Friday but as a general rule, I lighten my risk heading into the weekend rather than add. It all depends on the trade and the attitude of the overall market.
Please meet me in the RWO room right after the open so we can make some decisions on the MSFT position after the positive earnings and the morning gap up. See you there!
Everyone have a fantastic weekend!
Trade Wisely,
Doug
Comments are closed.