Probable Profit Taking Week Ahead...
Welcome to week 4 of September!
Exactly as I have predicted last Monday morning, the US market resumed its bull trend (against soooooo many "experts" view hahaha I always have a good laugh how these people believe in what they think rather than really look at what the market is REALLY doing) and both the Dow and the S&P500 closed at new historical highs.
Of course I know you are going to ask, so, yes me and my Master's Stock Options Picks subscribers did make money from it because we prepositioned ourselves with call options the week before and added on to it on Monday itself as well.
So, is the rally going to continue into this week?
Well, I would like to see such strength continue of course but from the way the market has powered all the way into new highs without a single retreat, leading to the Dow closing the week last Friday with a very dangerous isolated hammer candlestick, the very same kind that started almost every intermediate correction over the past year, I am inclined to say that this week could be a bullish inclined profit taking week.
What I mean by bullish inclined profit taking is profit taking that faces alot of resistance trying to go down due to prevailing bullish sentiment, leading to a somewhere sideways slightly bearish movement that is packing energy to go back upwards. To me, this is a great time to seek opportunities to add on to our existing bullish positions rather than get out in fear.
With the economic numbers growing at a healthy pace, unemployment rate no where near a bubble situation, housing market no where near a bubble, bonds no where near a bubble, I don't see any reason why the market would crash any time in the near future. In fact, I continue to stand by my prediction that this rally have another year to go as long as Trump remains in office.
I hope you guys are enjoying this rally as much as I do. In fact, my Ride the Flow system continued to profit into this rally, pushing our overall account profit into 35% so far this year! Yes, this is one of my proudest options trading method but its so little known. It has the capability of making a constant profit no matter if its a sideways or a trending market with just one trade! Click here to read about it!
For now, the market remains in all out bull trend.
Exactly as I have predicted last Monday morning, the US market resumed its bull trend (against soooooo many "experts" view hahaha I always have a good laugh how these people believe in what they think rather than really look at what the market is REALLY doing) and both the Dow and the S&P500 closed at new historical highs.
Of course I know you are going to ask, so, yes me and my Master's Stock Options Picks subscribers did make money from it because we prepositioned ourselves with call options the week before and added on to it on Monday itself as well.
So, is the rally going to continue into this week?
Well, I would like to see such strength continue of course but from the way the market has powered all the way into new highs without a single retreat, leading to the Dow closing the week last Friday with a very dangerous isolated hammer candlestick, the very same kind that started almost every intermediate correction over the past year, I am inclined to say that this week could be a bullish inclined profit taking week.
What I mean by bullish inclined profit taking is profit taking that faces alot of resistance trying to go down due to prevailing bullish sentiment, leading to a somewhere sideways slightly bearish movement that is packing energy to go back upwards. To me, this is a great time to seek opportunities to add on to our existing bullish positions rather than get out in fear.
With the economic numbers growing at a healthy pace, unemployment rate no where near a bubble situation, housing market no where near a bubble, bonds no where near a bubble, I don't see any reason why the market would crash any time in the near future. In fact, I continue to stand by my prediction that this rally have another year to go as long as Trump remains in office.
I hope you guys are enjoying this rally as much as I do. In fact, my Ride the Flow system continued to profit into this rally, pushing our overall account profit into 35% so far this year! Yes, this is one of my proudest options trading method but its so little known. It has the capability of making a constant profit no matter if its a sideways or a trending market with just one trade! Click here to read about it!
For now, the market remains in all out bull trend.
posted by Jason Ng at 3:11 AM
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