That was a nice range-bound day for the market overall. The consolidation is healthy.
[Options Premium] Knives are Falling
Our Ian Culley said it best:
Don’t catch falling knives!
It sounds simple enough. But in reality, traders continue to lose fingers as they reach for downtrending assets.
It’s true in stocks, it’s true in commodities, and it’s true in bonds. It’s true in any asset class, really.
And the knives keep falling left and right. Let’s avoid getting our hands cut and let’s just go with the trend, shall we?
“Don’t Fight Papa Dow”, is how I learned it.
I don’t know how you were taught to approach markets.
But I still have Ralph Acampora in my head. I can still hear him yelling, “Don’t Fight Papa Dow!!”
He’s referring, of course, to the Dow Jones Industrial Average, and respecting the direction of its trend, and its components.
We just saw back to back positive weeks for the Dow Industrials for only the 4th time in 2022. See here.
This weekend I published a note about how underrated I find the Dow Jones Industrial Average to be among traders and investors.
Not sure why people get so upset about the Dow. I find it really valuable and shared some of my favorite hacks here.
The Dow is not something I want to fight. In fact, I was specifically taught not to.
So here’s what this looks like. You can see the Pre-Covid highs that were taken out in Q4 2020. And now here we are, back to the scene of the crime.
Roundtrip: [Read more…]
Swing Trader Pro: Morning Briefing (10-17-2022)
From the Desk of Kimmy Sokoloff
Overnight, the futures held Friday’s lows, and now we’re back up against resistance.
Not too many names stand out to me right now, I think maybe because they just keep going back and forth.
[Video] Mornings With Maria on Fox Business: We’re Buying Stocks
Friday morning I was in the city chopping it up with Maria Bartiromo.
She was surprised at what I had to say.
But I think she was intrigued.
Also, huge shoutout to Fox Business on their 15th Anniversary. It’s been amazing to watch them continue to dominate financial TV.
Congrats all around.
Check out the full clip from Friday morning:
Dow Jones Industrial Average: Still Underrated
High Positive Correlation With The S&P500
Breadth Improvement? Or Just Less Bad?
Saturday Morning Chartoons: Less Bad Again
This is the weekly post that aggregates all the charts we put together throughout the week and organizes them all into one, easy to flip through deck.
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