Futures are higher this morning, reversing course from yesterday’s closing action. The Nikkei closed down but managed to bounce back from a sharply lower trading session. Fears are still mounting about the slowdown of monetary policy. Economic data is again lacking from the calendar today so investors will be forced to wade the choppy waters themselves once again. Most sectors are in the green during the premarkets which comes as a brief reprieve to yesterday’s watchlist picture. This also lends itself to the choppy environment we’re currently experiencing and traders would be wise to adjust strategies to account for this kind of price action.
Going into the end of the week, I am expecting more of this up & down action which means the writing strategies should be used as a plan of attack for some of these high flyer names we love to trade here at Sanglucci.com. Follow through is non existent for many of our beloved names and holding overnights is simply a risk we can’t afford to take right now.
I’m headed out to Boston for the rest of the week so I won’t be trading much today.
Make sure to register for our webinar this evening and join us as we discuss trading during the summertime!
GOOD MORNING YOUNG WORLD!
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