Saturday, November 12, 2016

Nov 14, 2016 weekly outlook

The one sure thing in the market is often it gives you  unexpected moves.  I said last week: "Election on Tuesday next week.  So it seems we have a setup for a potential BIG down day first two days next week."  Well that was almost right except we got a BIG down at night.  Election night there was a BIG move down (700 points or so in DOW futures).  I do not have an account to trade futures  so I was screwed.  From what I understand this was mainly foreign trading.

Come morning at the market open in the USA the BIG down was gone.  the market  spent Wednesday soaring. Continued the week going up (mostly).

  I said  "I will be watching closely for a bottom and pivot upwards."   No time to consider the turn in the market. Another miss because I was not fast enough.

I said "May buy a position in IWM if it looks like a bottom forming/formed."   Right idea but missed it.  A whole week of missing opportunities  Never been so right and wrong at the same time.

Hope you did better than I did....  At the end of the week with R2K up around 10% (RWM down 10%) I bought a few shares of RWM.

NOTE:  My chart last week was very much a bulls eye.

As of now I am assuming the market bottomed and turned.  Given the new high in the DOW highs in other indexes seem probable.  Still given the amount of movement up last week a pause next week would be possible before week end.

GL traders

7 comments:

  1. Great call - you nailed it again.

    ReplyDelete
  2. Yes, I agree, great call! Thanks for the posts! The market was frustrating for me too...I had a HUGE VXX position that should have been up 40% on Wednesday open...so I feel your pain! I think this current rally is the laat one before the bigger correction that may start after fed raises rates in Dec. Good Luck!

    ReplyDelete
  3. It seems that gold does not touch bottom in october.
    What do you think?.

    ReplyDelete
  4. Great work! I was curious why you bought some RWM if you think highs in other indexes seem probable?

    ReplyDelete
    Replies
    1. Hopefully a short term trade. Given the 10% move in R2K a pullback of 2-3% seems likely (maybe more) during the week (RWM R2K inverse ETF up)

      Delete
  5. great charts, also since TRUMPY got in the baltic dry index is CRASHING UP. Have a look here ==> http://www.bit.ly/2f7gaUw

    Normally that is a sign shifting will happen in sectors, and make for lots of money to be made. WOW!

    ReplyDelete
  6. You are providing outstanding news, very helpful to people plz keep it up ….we are advisory forum provides free trial ,technical news and advise health for trader.

    TraderVC review

    ReplyDelete