Morning thoughts for November 3, 2010

smbcapitalJoe P's blogLeave a Comment

Good morning traders. SPYs trading up premarket near the rally highs. I am not getting excited about chasing the market at these prices as recent highs in the market have seen profit taking. I have also started to note that the rally is beginning to narrow, as individual stocks as a whole are starting to follow the movement in the … Read More

Morning thoughts for November 2, 2010

smbcapitalJoe P's blogLeave a Comment

Good morning traders. Midterm election results are out later today and FOMC statement tomorrow. There are two main scenarios I am looking for today. The first and what would be the more usual, calls for a quiet trading day as the market waits for news. The second, less likely scenario would be a move to the upside in anticipation of … Read More