The Diamond In The Rough?
With the markets extended to start the week, it’s time to hedge and find that next diamond in the rough.
With the markets extended to start the week, it’s time to hedge and find that next diamond in the rough.
With a reduced trading schedule this week in Cayman, here’s where I’m focusing my attention.
The range between $2800—2825 has been a critical resistance zone for the S&P. However, even as the market hung out here, key market leaders like the cloud stocks and MSFT are making new highs. Where the leaders go, the market usually follows. Especially now, since today we closed at the highest level the S&P has seen since October, I believe investors with FOMO will pile in. Pushing prices even higher. Let’s talk about the Dow, BA, FRPT, CRM, MSFT and AMZN.
After the terrible news in BA last week, everyone wanted to know — when is it time to buy? I always like to give tickers like this a few days to flush out the bad news. It’s now done this, and I think it’s ready to go. Check out trade ideas here.
The “aftermath” of volatility events — the volatility that is triggered with FOMC or NFP or expiration — is often some of the best times to setup retracement entries and capitalize on that reversion to the mean.
As we wrap up an expiration week, we have some trades that are following through on recent corrections and setups that are going to be in focus next week.