Stocks are mixed heading into the first day of the fourth quarter, with the Dow trailing tech and speculative stocks.
It’s not a particularly fertile trading environment as we head into the election in just over a month, as the market hates uncertainty. When you have an election year, you typically see the low-volume summer doldrums extend up to the election.
This is something I’ve noticed over the past three decades, even though the major impact of a sitting president isn’t generally felt for a couple of years, in my experience.
We have ISM Manufacturing, PMI Manufacturing and JOLTS all coming within 15 minutes of each other this morning — I would not enter any new positions until this data is all in (10 a.m. ET).
Crude oil made another swing low and I’m starting to get bearish on energy stocks — I’ll give everyone some stocks today in my VIP Room at noon ET!
Gold, however, is starting to move higher again. I’d love to see it trade above the $2,690 level…
I’ll cover all that, my daily hitlist of longs and shorts and more in this morning’s “Premarket Must Watch” video!
Roger Scott
Roger Scott Trading
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P.S. The Day I Stopped Guessing Market Direction
After 30 years in the markets, I thought I’d seen it all…
But what I stumbled upon a couple of months ago left me stunned…
Picture this… You placed a trade on Amazon, and 48 hours later and you’re up 90%.
And the surprising part is… you would’ve profited even if Amazon stock were to tank.
It’s all thanks to what I call the “Win-Both-Ways Trade.”
Granted, there would have been smaller wins and those that did not work out, but as far as I know, it’s the only type of trade that lets you target BIG gains without needing to worry if stocks soar or tank…
The best part?
It’s nothing like those complicated butterfly spreads or iron condors you might’ve heard about…
The profits and performance shown are not typical, we make no future earnings claims, and you may lose money. The trades expressed are based on historical signals in order to demonstrate the potential of the new system.
