Well the services ISM was pretty weak this morning. If we get a weak jobs report tomorrow then I guess it is highly likely that the FED will cut another 0.25% later this month
Seemed like value outperformed when rates were shooting higher, now it looks like rates are going lower again and people are favoring growth again
6) house will not impeach, they don't have the spine to hold a vote on it, the inquiry is only to appease radical anti-Trump base... but they will spend the remainder of the Trump term holding hearings instead of governing and will pay for it in 2020
I'd put money on it that a vote happens in the House by Thanksgiving. The house has done plenty of governing, none of it makes it to the Senate floor though.
Solid jobs report today, but it seems like another rate cut is still coming this month since it wasn’t that hot of a report either
Ok. Still working on refining my trade management theory. I decided to exit 40% more of my long positions at SPX 2937. Powell speaks in 15 minutes, I think. I prefer risk management over "greed." If it collapses, I shall enter more long. If it goes up, I can profit from the 10% remaining long positions. Less profit but I don't care--my account is at an all time high. I want to build it up steadily and surely. But, of course, I am working on profiting more maximally with better trade management. Getting better but more room to improve.
Out completely at 2943. Satisfied with my net profits at this level. I want to fully profit take. Now, hopefully another significant collapse so that I can re-enter long, baby!
I could say more, but another good entry point for long is between SPX 2900 to 2910--if it were to collapse again
You could get your chance next week, market could get volatile again with the trade talk meeting next week
So, there you have it. The SPX hit 2949.73. Close enough to 2950. I exited prematurely but in this market it's better to profit take. Risk management is prudent
