Ripping the face off of this market!
Yesterday I posted an article here on Steemit with the title of: "Lions! Watch for a rebound in financial stocks." Well today in early trade this prophecy was realized. Yesterday on my website TradersChoice.net I had posted a position on XLF, (it is still posted there, click here:https://www.traderschoice.net/money-page--stock-picks.html ) and at the time I am writing this article that trade is up more than 20%.
I had also suggested that we would see a rotation out of tech, more specifically the FAANG stocks, and of these at the time I am writing this article Apple is the only one of the bunch meaningfully higher in early trade.
So why am I writing all this?
It is not to toot my own horn so to speak, it is because I want every single one of us, my Lions, to rip the face off of this market, and that is exactly what we are going to do!
As I have been saying lately, especially in light of the 180° turn regarding monetary policy by the Federal Reserve and the plunging dollar, the stock market almost has nowhere to go except higher.
Knowing that the Federal Reserve is committed to easy monetary policy, which includes weakening the dollar, we need to be looking for opportunities to get long stocks.
Looking ahead, once the financials trade plays out, we need to be looking for opportunities to jump back into tech. Although this maybe several weeks away, we again need to keep tech on our radar screen-as I believe tech once again will lead the overall markets even higher.
Happy hunting my Lions!
Gregory Mannarino @marketreport
