Thrilling Thursday – Markets Make a Remarkable Comeback While You Sleep
Nice reversal!
The Dow is actually 100 points higher this morning than it was yesterday after falling 300 points at yesterday’s lows. Kudos to Doug, our Hedge Fund trader at Capital Ideas, who actually said to me yesterday morning that “this whole thing can end the day with the Dow higher” – he was only off by 12 hours…
Our first attempt at going long, from the Morning Report, was a failure as we blasted through all those levels but what fantastic entries we got during the day, as noted in our Live Member Chat Room:
August 15th, 2018 at 10:37 am | (Unlocked) | Permalink
Indexes getting worse, not even going to attempt to go long again. Gold and silver way off too. /SI at $14.50, WPM getting killed so good time to sell the 2020 $20 puts for $3+.
/SI $14.40? Wow! /NQ just hit 7,340, that’s down 120 for the day, about 1.5% so look for 25-point bounces to 7,365 (weak) and 7,405 (strong) but OUCH!
August 15th, 2018 at 11:18 am | (Unlocked) | Permalink
Huge 10MB build is very, very bad but note /RB had a draw so best bet to play at $1.99 but VERY DANGEROUS TRADE as the market is crazy at the moment and it’s still more than two weeks to the holiday and we have a rollover in between.
We really want to play /RBV8, long which is Oct at $1.884 at the moment!
August 15th, 2018 at 11:32 am | (Unlocked) | Permalink
/KC/Palotay – Ugh, I forgot I have 3 long /KCN9 that are getting clobbered. Same as /SI though – great chance to get in at a cheap price ($114), if you can stand the pain.
Provided courtesy of Phil’s Stock World.
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Source: https://www.philstockworld.com/2018/08/16/thrilling-thursday-markets-make-a-remarkable-comeback-while-you-sleep/?utm_source=beforeitsnews&utm_medium=feed&utm_campaign=psw-feeds&utm_content=article-link
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