Financial Stocks Maintain Bullish Bias Amidst Chaos

XLF Financial ETF 10.9.19

XLF Financial ETF 10.9.19

I covered my short sale in the SPY yesterday so I'm flat heading into today (no positions).

I don't see much obvious today combined with fresh FOMC and China news means I will be trading light today.

Technology stocks have increased in volatility recently so I will be monitoring for some new trade opportunities.

Here is my scan for consideration today.

A quick lesson about scans. I recently posted about keeping a tracking journal, and got a few questions about the difference from a game plan.

Here it is; a game plan is for today's triggers, a tracking journal is trades that look good but do not have actionable setups yet. But you want to keep them on your radar.

Pete

Dow futures rise nearly 200 points a day ahead of China-U.S. tariff talks

U.S. stock futures were heading higher Wednesday morning, as China and the U.S. attempted to ease simmering tensions, a day before high-level trade takes are scheduled to commence.

Investors also will watch for minutes later this afternoon from the Fed’s policy gathering committee last month to gather clues on the outlook for interest rates.

marketwatch.com/dow-futures-rise-nearly-200-points

One fast-food stock is best in show right now, trader says

Don’t Waste Your Money on Penny Stocks: These 3 Stocks Are Better Buys

Penny stocks can be tempting. Trading at less than $1 per share, big jumps always seem to be right around the corner.

Low-priced stocks do tend to make big moves at a speedy clip, and even master investors like Motley Fool founder David Gardner will admit to being swept up in the promise of penny stocks — as a young and untrained investor.

fool.com/investing/3-stocks-to-buy

3 Charts That Suggest Trend Traders Will Want to Buy Financials

So far in 2019, the financial sector has managed to maintain its established uptrend despite trend reversals and extreme volatility that have been common themes in other sectors.

investopedia.com/3-charts-suggest-buy-financials

Pete Renzulli
 

Click Here to Leave a Comment Below 0 comments

Leave a Reply: