I can't believe the markets are up again.
This country is running headlong into full-scale riots and the market could not be more complacent about it. Once again we are jacked up in the Futures and I already put out a note to our Members with new shorting lines and I have to run to the Nasdaq this morning for an interview so I'm just going to post a link HERE.
That's right, we're very busy in the mornings at PSW and that's because being a good investor is a JOB, not a hobby and it requires a surprising amount of work if you want to get it right. Yesterday morning we also shorted the low-volume move up in the Futures and my call in the Morning Report was:
Meanwhile, talk of trade war is strengthening the Dollar, which may even break back over 94 today and that unintended consequence of sabre-rattling is not good for the markets so we took advantage this morning and put in those short orders on the Futures in our Live Member Chat Room at Dow (/YM) 22,000, S&P (/ES) 2,470, Nasdaq (/NQ) 5,925 and Russell (/TF) 1,400. As usual, we wait for two of them to cross under than then short one of the laggards with VERY TIGHT STOPS – because this market be CRAZY!
The Dollar hit 94.04 and is holding 93.90 at the moment, consolidating for a move higher (long /DX) and we got some nice drops on our indexs but, as we thought they were shallow: Dow fell 50 points to gain $250 per contract, S&P fell 10 points to gain $500 per contract, Nasdaq fell 25 points to gain $500 per contract and Russell fell 20 points to gain $2,000 per contract, which is good because, as I said to our Members in the Live Chat Room at 9:37:
I've got 5 short /TF, always my favorite. 1,395.30 is my avg. Other than that, just seeing how things shake out.