Slightly oversold, A further pullback today will provide a good opportunity to begin scaling-into SPY. For today’s official Daily Battle Plan set-ups click here.
Daily Battle Plan
Yesterday was the continuation of the buying after Monday’s traditional pause day. The end-of month upward bias in prices in place along with aggressive buying from hedge funds who are desperately trying not to have their worst month since 2012 created a buying panic that led to yesterday’s rally. The Fed announcement and Tuesday’s mid-term… [Read More]
Yesterday was the traditional pause day which occurs after market become overbought. With the end-of month upward bias in prices in place along with the election nearing, the market may become quiet without a major news event occurring. No real edges in place today but this will be short-lived as it always. For today’s official… [Read More]
The market is short-term overbought and due for a pause/pullback. Headlines will continue to predominate prices so proper position sizing should reflect this fact. For today’s official Daily Battle Plan set-ups click here.
Yesterday the market bounced back well from Wednesday’s headline news. Today’s news will be another test as to whether or not the market can handle both terrorism and the Ebola scare in the same week. Overall most stocks are short-term neutral and with so many stocks near their 200 day ma, it’s going to take… [Read More]
As I mentioned yesterday, the market was overbought and due for a pause. Today it’s slightly oversold and a rally from this position would be a very good sign. For today’s official Daily Battle Plan set-ups click here.
The market is now overbought and due for a pause. Yesterday saw panic buying from hedge funds as they were buying high beta stocks getting back into the same companies they sold last month for little to no reason. These people move in herds and we saw the exact same herding affect in August 2007… [Read More]
Thursday was the pause day, Friday was the rally today. In bull markets, Monday would be the follow-through day and it was very good. The market is now slightly overbought and due for a pause but the behavior for the past three days has been constructive. There is a lot of money that was moved… [Read More]
Daily Battle Plan subscribers should have locked in their gains in the full position in SPY. Thursday was the pause day, Friday was the rally today. In bull markets, today would be the follow-through day. We now get the chance to see the true health of the market. For today’s official Daily Battle Plan set-ups… [Read More]
Another day of hedge funds meeting margin calls. Yesterday (and the last hour of Wednesday) was about selling the winners and covering the shorts on most beaten down stocks. This led to the solid defensive companies getting sold and the junk being covered (see symbol XONE as one of many possible examples). This same scenario… [Read More]