Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

Did you survive Friday in the Stock Market???

Sentiment won out and the Market had a brutal sell-off Friday down around 2.5%. This morning things have settled down a bit but the market looks like a gap down of a little less than .5%.

Sentiment has turned on a dime and the markets are now not only extremely oversold but the sentiment is very sour right now. A warning though not as extreme as they were on the overbought side last week.

It’s time to look at mean reversion trades in earnest now. I have a few stocks that survived Friday’s onslaught and also went with an overnight trade in SSO which appears I will be taking a loss shortly after the open.

However, on the open, I also plan on getting long a position in SDS for 1/4 mean reversion trade.

On the Geopolitical front things are simmering but nothing causing havoc yet unless you consider N. Korea testing a nuclear bomb havoc. But that does not seem to affect the markets.

I should be an interesting day today. All it would take would be for the Fed to hint at no rate hikes for a while and we would be in blast-off mode. But I think it would take another 500 pts down from here before they would do that. We will see.

If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)

Good Luck Today


RickJ’s Handicapping Picks

The post Did you survive Friday in the Stock Market??? appeared first on Rickj's Handicapping Picks.

This post first appeared on RickJ's Handicapping Picks, please read the originial post: here

Share the post

Did you survive Friday in the Stock Market???


Subscribe to Rickj's Handicapping Picks

Get updates delivered right to your inbox!

Thank you for your subscription