Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only intended at the moment of their issue as conditions quickly change. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
Contact us: support@philstockworld.com
© Copyright - PSW, LLC.
2024
October 6th, 2017 at 10:40 am
Good morning!
Well, that sell-off didn't last long, did it?
They're spinning the jobs number as being all hurricane. Leisure/Hospitality was down 111,000 but it's always down in Sept, after summer ends. Hard to say how much of that is really the storm. In May we had 11.7M employed and now it's 11,655M so a bit less but April was 11,641M – so there's more people working after the summer than before but nor more than during, when we peaked at 11.759.
TEVA/Seer – Hopefully that was ALL the bad news now done with.
Big Chart – Time for a bigger chart already! The RUT is actually pausing right at the 5% line but no pullback yet but it's a very good sign when you see the 5% Rule being obeyed like that (it means we can play the prediction game). 1,440 to 1,512 is 72 points so 14-point down 1,498 and 15 below that is 1,483 – those are the retrace lines to watch and no luck so far – even on the morning dip.
Still, we keep getting those 5-point drops from 1,515 and that helps a lot if you are scaling in and out.
DINO/StJ – Well, it was a nice 240-year run.
FEMA thing is really scary and the press is scared to go at him because he is willing to attack them and he is vindictive and he will use the powers of his office against them. You're only a "nation of laws" if the people at the top enforce them. We are way off the rails here…
Scale/StJ – Yes, it's a good chart but they blew the scale big-time.
GM/Baron – People are extrapolating post-hurricane car purchases out a lot farther than they should.
GM/Albo – WOW!
Oil/Streth – Not now it isn't. /RB might be good for a bounce at $1.55 if it hits it but /CL not really until $48.50 – too dangerous between there and $50 if you missed the short entry (on failing the strong bounce at $51).
Smooch/Naybob – I'll settle for a high five, thanks.