It’s fitting that on the last day, of this frustrating month, we see the S&P down 30 points. We now get to deal with the all important jobs number tomorrow, which has the potential to make today’s move a one day event– again.
I’ve sold down positions today in exchange for cash, even though The PPT is flagging oversold here. I’ll be out of the office tomorrow for a short trip to New York, and do not care to manage short term positions through this mess.
Hopefully August gives us some better trading conditions than July, because the sideways chop has been tough to rack up big wins– at least for myself.
Here’s a look at today high volume/hybrid movers: CLICK HERE FOR CHARTS
If you enjoy the content at iBankCoin, please follow us on Twitter
Safe travels Brother. Enjoy the trip.
this correction ends between $SPX 1900-1930 then the market prints new highs followed by a horrific correction after Labor Day into New Years then the final hoorah back to August highs or better before the “real bear” comes out of hibernation.
If I knew where you were meeting I’d buy you a round of drinks..via the tele. because that’s how I roll.
side note: For some reason all I can picture is my homies car~pooling to NJ..
😉
Have a great time gentlemen.
~Sincerely, ‘Sir’ Soozy
scratch the NJ and insert NYC..
Thanks Sooz, I was sworn to secrecy by the illuminati.