If you followed politics on Friday you would have thought the markets were crashing. President Obama was coming up with reasons why an increasing unemployment rate was positive.
Mr. Romney was chastising the Obama administration for the biggest failure to recover since the great depression.
Who is right?
I don’t know about you but we have 90 days until the election and I am already sick of both candidates.
According to the Obama camp, Romney is an elitist that is going to give the country back to the 1%.
According to the Romney camp we are dealing with an administration that that is burning up 4 billion dollars a day to make sure that we “share the wealth”
On Friday the market ignored the rhetoric and decided to concentrate on the nonfarm payroll numbers.
It saw it was a market that was fueled by expectation and it liked what it saw. The nonfarm payroll number came in almost double the “whisper number” and the DJIA rocketed higher by more than 200 points its third biggest gain of the year.
We are now back at the tops.
Was Friday the breakout that everyone is hoping for, or was it just another rally only to be sidelined by some new debt crisis somewhere in the world?
The markets will let us know the answer to that question, but one thing is for sure there will be plenty of opportunity in the coming weeks and my system of trading will allow you to take advantage of that opportunity.
We don’t try to predict where the market is going; rather we are going to react to what it is telling us to do.
Reacting to the clues that the market is giving create the opportunity to generate winning trades. I have taught hundreds of students how to take opportunity and turn it into winning trades, and I can do the same for you.
To contact one of my financial consultants, and work with me one on one, go here:
Keep those stops tight.
Todd “Bubba” Horwitz
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