4:00am (EST)
It’s no secret I have been the last standing bull that I can find in my circle of colleagues as they have been joining the camps calling for a pullback. It can be easy to get sucked into the what everybody else believes but in the Weekly Wrap I talked about how the trend has been up, yet, everybody is telling you to “buy some insurance” if you buy a stock at such and such a level.
All the Wall Street analysts are doing is covering themselves in case we do pull back. If you’ll notice, the market continues to brush off crummy news like lint on a suit and all three indexes could be posting new highs this week. I’ve been looking for Dow 9,000 and with the futures up 83 points this morning, we could get there today.
I said on Sunday night that we would probably see a few cracks before we did any testing of the March lows but I haven’t been worried about the March lows. I watch how the market is reacting to a lot of events and so far, things have been “bullish”.
Just like we were oversold on the way down, we could be ahead of ourselves on the way back up. But until that happens, we have been following the trend. Yes, we could get in a pinch if there is a drop because all of my current trades in the WinningWithOptions.com trading service are call options. The point I want to make is “don’t be afraid to trade”. If you are, you have missed out the 20% profits that most of the positions are showing in just one week. In fact, the Apple (AAPL, $142.72down $1.13) trade from last week returned most of you up to 70% in just two short days.
I have sent out an update this morning for Wednesday and if you don’t get it, email me. We have worked thru a majority of the subscribers who were having trouble with their user name/ passwords and signing up. I’m sure there are still a few more of you out there so keep emailing me until you are confirmed by myself or Ryan.
Once confirmed, you will get emails on new trades and updates as they are released. I know some of you are frustrated but I want to let you know that I’m fully aware of the problems currently affecting some of you. I have been working diligently for the past 24-48 hours and the good news is we’re almost complete with the resolution.
We know these issues are distracting to say the least and it has certainly thrown off my sleeping and normal blog schedule to say the least (sly grin). Again, if you are still having problems, please contact me and I’ll do all I can to help.
Rick Rouse
Rick@OptionsMentoring.com
