As of Nov 09 2022 the stock market is looking better but currently lacking the big bullish momentum bars up.
This will either mean the market is carrying the least number of investors onboard as it starts the bull trend or the trend is not that bullish and will breakdown.
We do know we are in a choppy period which has been mentioned many times on the weekend webinars and for that reason, we are not holding too many stocks.
We discussed on one of the earlier webinars this year that the following 6 months after the midterm elections the stock market performs well. We are now at that point.
So, for now, we are bullish more than bearish and for that reason we are holding some stocks.
Our options should be to stand aside or to go long. If you are short then make sure you are using proper risk management. We may look for shorts to balance our book but no new short positions currently.
The Nasdaq is certainly the laggard but at least is aligned with the other indices, which is the minimum criteria to aid confidence.
As you know, we don’t trade our opinions and even try to refrain from having opinions. We let price dictate our actions.
Let’s go trade!