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Will We Hold It Wednesday – NYSE 12,250 Edition

Wednesday, November 15, 2017 7:43
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(Before It's News)

Aren’t you glad we’re hedged? 

Just yesterday, in our Morning Report, we gave you an example of our Members’ Portfolio Hedges we use at PhilStockWorld.  Later in the day, in our Live Member Chat Room, we made some aggressive adjustments to our main hedges in the Short-Term Portfolio Review and tightened up some covers in our Butterfly Portfolio Review.  I don’t know if this week’s pullback is the sign of things to come – I just know I sleep a lot better knowing we are well-hedged if things do turn sharply south.  

The big line to watch at the moment is 12,250 on the NYSE and we finished the Day just 30 points above that 50-day moving average.  Looking at the position of the MACD line (lower part of the chart) compared to the last time we crossed under the 50 dma (Aug 9th), it would now be surprising if the Senior Index doesn’t drop 100 points below that line – at least.  Already this morning we’re seeing some early weakness, but perhaps that’s just because North Korea has declared that Trump deservs the death penalty and is calling Trump a coward for cancelling a visit to the inter-Korean border.

Or perhaps the markets are down this morning because the GOP Senate has, for some insane reason, decided to wrap up the Trump Tax Plan in a Bill to Kill Obamacare – now putting two very unpopular measures on the same bill.  We fought hard to stop this insanity back in July and here we go again (see: “Trump Orders GOP to Kill Over 4,000 People Per Month“).   I know Trump’s Asia trip was a disaster, but he doesn’t have to come home and take it out on the poor, does he?

If they fail (and God help us all if they don’t), Republicans will enter the midterm election year with their message muddled, without a victory on tax reform, and having spent a year’s worth of time trying and repeatedly failing to dismantle Obamacare with nothing to show for it but bad headlines. 

The Republicans want to use the $338Bn it costs to cover the uninsured ($33Bn/yr) to hand out bigger tax breaks to Billionairs – like Trump!  4M people will lose health

Provided courtesy of Phil’s Stock World.

To read the rest of this article now, along with Phil’s live intra-day comments, live trading ideas, Phil’s market calls, additional member comments, and other members-only features – Come to the winning side at Phil’s Stock World by clicking here.

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Source: http://www.philstockworld.com/2017/11/15/will-we-hold-it-wednesday-nyse-12250-edition/?utm_source=beforeitsnews&utm_medium=feed&utm_campaign=psw-feeds&utm_content=article-link

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