TGIF – Finishing the Week on a Strong Note

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S&P 500 with 5% Lines - Aug 12 20224,240.

That’s the halfway point between the Weak and Strong Bounce Lines on the S&P 500 and it’s also up almost exactly 2.5% from where we started the week and USUALLY, it’s a big deal for a major index to move 2.5% in a week but not in these crazy times – we just take it all in stride.

We took advantage of yesterday’s little pullback to identify a bunch of new bargain stocks to trade including MP, JWN, BNTX, BGFV, CONN, CTRN, DKS…  If you want the full list and suggestions for options trades, don’t be a cheapskate and Become a Member Now!  

We expect to finish the week on a high note and hit our goal because we have Consumer Sentiment at 10 am and last month I called it a low at 51.5 because it’s based on lagging data and Gasoline prices had been coming down fast from June to July – which has a heavy impact on Consumer Sentiment.  

See how easy it is to predict the Future – you just have to pay attention to the present…  

After much hemming and hawing, we decided NOT to tilt more bearish into the weekend.  We feel we are protected enough from a big drop (if Putin blows something up) while the other risk factors should allow us one more week of positive movement before the momentum we’re now enjoying becomes exhausted.  

Technically, you can call the run from 3,680 to 4,240 (15%) a bull rally and I’m sure the MSM will conveniently forget that we started at 4,800 and we still have EXACTLY another 560 points to go to get back there.   See how symetrical the 5% Rule is?  And those are the lines we’ve been using all year to very accurately predict EXACTLY what happened so far.

It’s much EASIER to play the market when you know what is going to happen next and what we do at PSW is try to make sense of what’s happening now, remember what happened in the past and use that KNOWLEDGE to stay on top of the changes that lie ahead.  

We’ll see how we’re doing after the 10 am sentiment release.  

Have a great weekend, 

– Phil

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Good morning all! Phil is there an updated timeline on the PSW Investments K-1 and newsletter. My CPA is bugging me every few days and I don’t want to miss it accidentally in spam. Have a great weekend everyone –

Good Morning! Finally I’m able to post again…. Thank you!

Good morning!

Good Morning.

Thanks to whomever exercised/assigned my short call in PBR earlier this week! I probably could not have executed a better short sale if I tried.

Phil / GE-

When you have a chance what are your thoughts on GE? I still have a small position from way back when we use to trade it in the portfolios. Its has bounced up a bit recently, but It has done so many spin-offs and restructures over the years that I have no idea if it’s worth holding any more. Thanks!!

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Definitely some earnings reports coming up to gauge consumers , inventory and inflation management. What do you think about PNR ? They deal in water and filter solutions. They just bought Manitowoc Ice for commercial ice makers.

Phil,
I appreciate your detailed analysis. I find that I generally like to own companies that might be doing some good for the world- call it ESG, or one can take the profits from not so sustainable ventures and apply to to greater and greener good.  😏 

You talked me off a cliff LOL thanks again!

Phil, anyone else —

What do you use — ThinkorSwim or Interactive Brokers?

For those in Canada, ThinkorSwim is only available through TD? Is it true the quoted prices are higher than available elsewhere? No futures on ToS either.

Any other trading platforms available in Canada other than IB or ToS?

Help Phil,

I know this is an old post but I am desperate. I am locked out of all new posts since Monday and can not communicate with the admin on the site. I am at a lose as to what to do???