Today’s Trade Idea:Booking profits in TJX & market update
See the full position lineup of our bucket 2 swing trading portfolio HERE
See the full position lineup of our bucket 3 investment portfolios HERE
Please join the Inner Circle and Market Rover conversation in our members Slack chat room
Booking profits in TJX & market update
This morning we are going to close/book profits in our bucket 2 swing trading position in TJX as it is nearing (but hasn’t reached) profit target #1 at $92. This is also to de-risk the portfolio heading into Friday’s August jobs data and the three day Labor day weekend.
We are staying with our SPY bucket 2 swing trading short for now (even though it hit its predetermined stop loss at $445 yesterday.
Market Update
Yesterday’s (Tuesday) rally in equities by our estimation was largely a result of a weaker than expected JOLTS jobs data point, which led to a rally in the bond market (lower bond yields). This is a classic reaction function by algorithms buying stocks when yields drop.
In our view this is also a serious bear trap, as a weakening jobs market has over history always led to lower stock prices.
Today’s Trade Idea: Booking profits in TJX & market update
See the full position lineup of our bucket 2 swing trading portfolio HERE
See the full position lineup of our bucket 3 investment portfolios HERE
Please join the Inner Circle and Market Rover conversation in our members Slack chat room
Booking profits in TJX & market update
This morning we are going to close/book profits in our bucket 2 swing trading position in TJX as it is nearing (but hasn’t reached) profit target #1 at $92. This is also to de-risk the portfolio heading into Friday’s August jobs data and the three day Labor day weekend.
We are staying with our SPY bucket 2 swing trading short for now (even though it hit its predetermined stop loss at $445 yesterday.
Market Update
Yesterday’s (Tuesday) rally in equities by our estimation was largely a result of a weaker than expected JOLTS jobs data point, which led to a rally in the bond market (lower bond yields). This is a classic reaction function by algorithms buying stocks when yields drop.
In our view this is also a serious bear trap, as a weakening jobs market has over history always led to lower stock prices.
Chart