Backing And Filling

Early last week I stated that I was looking for the Dow to pull back for 2 days and then a sharp move higher. The next day the Dow was down 144 points and then the next day the S&Ps pushed down to 2057. I was looking for the S&Ps to pull back between the 2075-2085 area. The S&Ps pushed a bit further down. On Thursday the markets opened down then reversed up and closing up for the day. The way the markets reversed seemed like the unemployment number due out on Friday was leaked, then on Friday the markets exploded up over 250 points. The jobs number came in weaker than expected and the prior month number was revised down. The markets loved the number. Even though the unemployment rate dropped by a tenth the expectations that the federal will not raise interest rates. Earlier in the week I liked MSFT between 46.80-47.40. MSFT traded down to the low 46 and then sharply bounced. I said I would sell MSFT between 47.40 and 48. Also I said I would buy NUGT between 10.80-11.40 .NUGT traded down to 10.60. I said I would sell NUGT between 11.40 and 12. Both stocks were off the daily charts. Oil I think has seen a short term top. Today stocks like SN , PVA got hurt while oil was down small in the mid-59 range. Gold I am still very bullish on I see the next target in gold 1210 area.
Previous articleHow to be a Thought Leader (and Kill Zombies): A Talk with Daniel DiGriz, Founder of Madpipe Sneak Preview
Next articleGrant Cardone and Darren Hardy
Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.