Market wrap. And look out for my brand new book “100 Most Important Tech Stocks on the Planet”…
There’s been a clear pattern, if you’ve been paying attention, of the markets rallying into the weekends and then again on Mondays when there’s been no “Europe Lehman moment”, only to sell off, usually to lower lows, during the middle of the week. It will be interesting to see if we can overcome that pattern tomorrow, and if we do, whether that will sustain throughout the week, which is what the other clear pattern has been — that of rallying steadily and strongly through to higher highs on the weeks. We have seen the markets put on big 5% plus weeks when they do overcome the mid-week sell off pattern.
Sure hasn’t been a lot of boring trading weeks this summer and autumn, huh?
Feet to fire, I’d guess that we’re likely to overcome the midweek pattern and that we could get a big rally as we close out this week. Which would probably get us back to where we were at the beginning of last week.
Either way, you know me — we’re focused on trading both near-term, measured in days, and long-term measured in hundreds of days, but we’re looking out and trying to maximize our gains in what will be measured as thousands of days.
Don’t lose focus.
Oh, and by the way….we are putting the finishing touches on my latest book called “The 100 Most Important Tech Stocks on the Planet” and guess who gets the book for free and gets it before anybody else? That’s right, only fully-paid subscribers to TradingWithCody.com. (If you’re on a one-week free trial, click the link below to sign up so you can get the book for free too).
http://tradingwithcody.com/sign-up-today/
All monthly and yearly subscribers should be on the lookout for the new book tomorrow!
Til then, have a great night.