Momentum Trades

Daily Update, Momentum Options

Bulls Hold Gains

Pre-Market Update: Wall Street jumped back on the bulls bandwagon following a strong rebound and push to resistance. We mentioned in the bulls needed to hold their gains and they did while pushing higher following our midday update. The back-to-back wins on Friday and Monday were a big plus following the broader market selloff last week and a major step in reestablishing the bulls momentum.

Daily Update, Momentum Options

Bears Win Friday’s Musical Chairs, Bulls Get Weekly Victory

Pre-Market Update: We were ready for another 2-step downslide like the one the market experienced in late January and into February with the bears playing the geopolitical tension card. The flop was Monday through Wednesday’s action with the turn on Thursday and Friday. The bears went all-in again and could be reloading if there is a bounce on Monday and how we are playing this week.

Daily Update, Momentum Options

Back in the Saddle Again

Pre-Market Update: Our chart work from the weekend showed a possible bottom was in as Friday’s action picked up steam in the final hour of trading. We mentioned a lot of traders were going short and protecting their portfolios ahead of the weekend drama but we stepped on the gas pedal as we felt the suit-and-ties were once again overreacting.

Daily Update, Momentum Options

Relief Rally as Russia Softens Stance/ New Trade (OPK)

Mid-Market Update: The market was on pins and needles early on rumors of Russia demanding Ukrainian forces in Crimea to surrender by 5:00 AM (EST) this morning or face an attack. Those rumors proved false after Russian President Vladimir Putin spoke for over an hour and said the Ukraine crisis won’t immediately escalate and that war was the last resort.

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