This is the 1837th installment of Short-term Trading Live with Oscar which comes out for Wednesday, October 3rd, 2018.
Before we delve in, remember this is a very risky business. Trading, of any nature, is risky. Stock, options, commodities, you name it, and if you are going to play this game, have risk capital you can afford to lose. Also, never ever trade without stops.
Sell the Rallies in S&P and Nasdaq
So jumping right in, for Wednesday, Oct 3rd we are going to go with a red OMNI and selling the rallies. At least for the beginning of the session on Wednesday, selling the rallies in S&P and Nasdaq is what is in the plans.
Why is that so?
We must succumb to the pressure of the transportation average which has been coming down for some time now making nothing more than a bear flag. It was nicely secure in the black channel (refer the graph) for quite some time but that, my friend, is old news now. New news is the red channel (refer the graph) now. The market has broken down from the black channel and is now working its way through the red channel. [Read more…] about Transport Succumb To High CL Prices 10/03/2018