TG Watkins Hey Market Pilots, Right now, I’m feeling like I’m stuck between a rock and a hard place. I took two small trades, which if they work, might only go for two days. The SPY is near all-time highs as it keeps bumping along the Daily 50 SMA. On the surface, this should be fine, but … Read more
Hey Market Pilots, The week of March 15th, many of the names I trade were approaching their ascending Hourly 50 SMA’s which is a common spot for me to look at buying. This is because, usually, price bounces off that area and resumes the uptrend. But this time it was different, those MA’s didn’t hold, … Read more
Hey Market Pilots, The markets look as though they are in slow motion as they run out of upward momentum and begin to decline. But under the surface, individual tickers are getting pummeled. The landscape of those tickers should be the indication, or guides, as to what may be in store for the major indexes. … Read more
Hey Market Pilots, Last week, I wrote about how the market reacted to the Fed news and Jerome Powell speaking, saying that the market was satisfied with the pullback leading up to that news. What I didn’t do was wait a day for confirmation. The other piece I wrote (Market at New Highs, but Wait), … Read more
Hey Market Pilots, We finally got the pullback I was looking for, and then the market decided that whatever the Fed and Jerome Powell said was acceptable, so everything was bought up. I’ll cover the QQQ later and follow up with the projection I had with it, but for now, the SPY and IWM pulled … Read more
Hey Market Pilot, I enjoy old phrases we use like “it’s darkest before dawn” or “it was in the last place you looked” due to their hidden obviousness. Of course, it’s in the last place you looked, why would you keep looking after you found it? I know that isn’t the heart of the phrase, … Read more
Hey Market Pilots, In the continuing saga of this market pullback, as I have been writing about it every step of the way, the process has actually been rather orderly. In this write-up, I am switching to the QQQ because it has a clearer visual for what it is I am looking for. On Monday, … Read more
Hey Market Pilot, Previously, I wrote about how the market was getting hammered and many names were very low. I was posing the question of when will the markets bounce? Maybe the end of February since things had become so oversold. But I cautioned that we should not be in a hurry to jump in … Read more
Hey Market Pilots, The market had a pretty rough day on March 3rd, but your accounts probably already told you that. I know mine did when all my stops got hit over the course of a few days. And with all that fresh cash burning a hole in our pockets, I know we were itching … Read more
Hey Market Pilots, This has been a brutal couple of weeks in the market with February’s seasonal weakness kicking in hard. When the winds change and the market falls apart, my stops get hit and before I know it, I am in cash. And right now cash is a beautiful place to be as most … Read more