With geopolitics particularly in flux this week, there are a few levels that I will be looking for today.
Strive towards precise execution of trade setups and focus on becoming a disciplined and vigilant trader.
We see some unique situations on the oil ETF charts and will be bidding for a February call position.
As we trade into the end of the year, it makes sense to have exposure on both sides of this market.
There is no "normal" for this market. I'm inclined to think that if everyone is expecting "yet another Santa Claus rally", then 2010 is the year that ain't going to happen.
We are nearing out target on the GLD trade and will be taking most of the position off the table.
The dollar is THE power in the world today. Ignore its price movement at your own peril.
I see the upcoming election as a trade setup, pure and simple. Rally into the news; sell after the news.
The psychological perception of all players, no matter what tools they are using or how much money they are trading and investing, is the only thing that drives markets.
For those that have been waiting for a pullback to get long this rally, next week, statistically speaking, will be your chance.