Hey Market Pilots, The markets have been difficult for my style of trading over the last few months as the high momentum, high beta names all took a beating. Week after week I kept trying to figure out where the bottom was and when we could play the long side again. The setups I usually take weren’t working, and that was just a sign the tickers weren’t ready for the long side. Then, early last week, it all changed. I have a vacation planned for next week, but the market … Read more

Hey Market Pilots, This weekend is a longer one as we get to celebrate on Memorial Day and remember those who have served our country. I hope the weather is nice for you to take some time and enjoy the beautiful landscape this country has and what it is we strive for daily.  I come from a long line of men who have served. Both my grandfathers and my dad were in the U.S. Air Force and my uncle was in the U.S. Navy. This weekend I will be spending … Read more

Hey Market Pilots, February 16 was the day the music stopped for the high beta names that made me millions last  November. It was a wonderful time as the fear of missing out (FOMO) was in full force and investors were trying to chase the agenda of the new presidential administration. Since then, those names that also make up all of the Ark Innovation (ARK) exchange traded fund (ETF) have been dwindling month after month. How far down would they go? Would they ever come back? Was this a one-time … Read more

Hey Market Pilots, The market has been changing character lately. I have been able to find setups, but they only last one to three days and then it all gets given back. There is less and less of a trend to the upside as it appears tops are starting to form. Then, looking around the market, I notice many names are starting to fall below their key moving averages and stay there. One of those names I have been watching as a good example is Disney (DIS). When looking for … Read more

Hey Market Pilots, The market has been on a tear since the Covid-19 low back around mid-March of last year, but there have been some levels where the market has become volatile and run into resistance. Many of those areas coincide with Fibonacci (Fib) levels, which I think is fascinating. I always wonder if Fibonacci points have become a self-fulfilling prophecy much in the way that the adage of “sell in May and go away” has become its own self-fulfilling prophecy. As far as average true range (ATR) levels go, … Read more

Hey Market Pilots, Late last week the Centers for Disease Control (CDC) gave updated guidelines about mask requirements for vaccinated people. Clearly, this is good news and a big sign that we are making progress in the fight against Covid-19. But does the market care, or was this already baked into the cake? We have seen similar news situations in the past where some headline “revelation” came out which should have been great for the market and the economy based on its opening up or progress to getting back on … Read more

Hey Market Pilots, The market spent all day Wednesday beelining downward to the daily 50 simple moving average (SMA). This happened after there was an extremely fast move to the upside in late March and then a very choppy April. After that, the “sell in May and go away” adage kicked in. In the Moxie world, this all started with an inverse trampoline move on May 10 when price shot past the hourly 50 SMA and the Moxie Indicator™ was below zero. There was also a big gap between price … Read more

Hey Market Pilots, Mother’s Day was over the weekend and I hope all the mothers out there got the acknowledgment they deserve and a nice casual day. For my mom, we decided to go out in the new boat that we just purchased and get some much needed fresh air and family time. In Washington, the weather is still a little cold so we had to bundle up despite the clear day. And if this newsletter is just now reminding you about Mother’s Day (no judgment, I’ve been there before) … Read more

Hey Market Pilots, This market has been one of the more challenging ones I can remember and the most bewildering, too. I say this because if we were to simply look at the indexes, we would think the market is doing really well where names are trending and setups are prevalent. But if you step into the fray and actually try to trade, it has been frustrating to say the least. There certainly are bullish themes as financials, oil, and commodities are doing well. But they tend to be vehicles … Read more

Hey Market Pilots, Once again, my rule of waiting until the day after the Federal Open Market Committee (FOMC) minutes release worked again. It was a little trickier this time as the market opened with a gap up the next morning and seemed as though all was going to be well. But the market proceeded to sell off hard for the first half of the day, then rally just as hard the second half of the day and close exactly where it opened. What the heck? Usually, if there is … Read more