Hey Market Pilots, The last few days have shown that we have to be prepared for anything to happen in 2020. Yes, there are only about 80 more days but with the rollercoaster of the COVID pandemic now reaching President Trump himself, why shouldn’t we expect aliens to visit too? Oh wait, they apparently did. … Read more
Hey Market Pilots, I’m sure most of you are aware by now some major news broke last week: Trump tested positive for COVID. Clearly, this isn’t good news for anyone but his opponents. The market’s reaction was quickly negative but surprisingly contained as price held the overnight support and the Hourly 50 SMA. President Trump’s … Read more
Hey Market Pilots, The Market has been a little challenging as of late and the ability to get chopped up or on the wrong side of it is a real possibility. Even I got caught up in the mess. While it was an uncomfortable position to be in, there were numerous learning opportunities I was … Read more
Hey Market Pilots, I just went through my list of names on my watchlist as part of my weekly review and it sure looks messy out there. Some names are up, some are down, some are sideways, and most of them look erratic. This is to be expected when the market as a whole is … Read more
Hey Market Pilots, The markets had a pretty big move to the downside lately. I was prepared for it as far as knowing if the market was going to hold long or fall short. That line in the sand for me was the 15 min 50 SMA. I was hopeful that Tuesday’s bounce would continue … Read more
Hey Market Pilots, There are common patterns in the market which we need to know about in order to make proper decisions and money. This week, I saw a particular type of bottoming pattern form on a few names and the market itself. I’m very familiar with a double bottom pattern and how it advertises … Read more
Hey Market Pilots, Once again, the FOMC minutes were the trigger for some market action. I’m writing this Wednesday afternoon and you’ll be reading it on Thursday so the exact outcome of what I write may have to be taken with a grain of salt. Ever since the SPY touch of the Daily 50 SMA … Read more
Hey Market Pilots, Patience and persistence are needed if one is going to be successful in the markets. I am reminded of that when new subscribers come into my service and express concern that they aren’t making money. There can certainly be multiple reasons for the lack of performance in one’s trading account, but as … Read more
Hey Market Pilots, Since the market sold off last week going into Labor Day, we are now in a different mode. The market is no longer in a trend, which means clean moves are more difficult to find, and good looking setups may not actually work the way they are supposed to. The market is … Read more
Hey Market Pilots, Sometimes the market is poetic. Those who have been around the markets for awhile know that a stock split can create a lot of false hype and that the savvy traders use the actual split event as an opportunity to sell their gains to the uninitiated. We saw exactly this with TSLA … Read more