Prepping Trades for Memorial Day

THE WEEK

The Market has been butting up against the 52-week high for the past 8 Market days.  It has made trading a little rough.  I was undecisive not knowing  which way the trend was next going to head.

The reaction is the release for the FOMC minutes from the last meeting surprised me.  The reaction was a strong down.  I didn’t think the Market would be so reactive.  We all knew what had transpired in the meeting,  so no surprised there.  The downturn may have just been traders deciding to grab profits because the Market had flattened.

LOOKING AHEAD

Monday is a holiday – Memorial Day and the Market will be closed.  The only major economic news release will be on Friday – PCE (Personal Consumption Expenditures Price Index). The PCE price index, released each month in the Personal Income and Outlays report, reflects changes in the prices of goods and services purchased by consumers in the United States. Quarterly and annual data are included in the GDP release.  The report contains data the Feds monitor and use to determine interest rates.

I expect prices to be steady all week until Friday and will trade accordingly.  I am excited about another new trade developed by one of our Quantum Members.  He calls the trade Pocket Change.  We will be alerting Investment Buddy subscribers with  the trades and the watch list each week.

HOW AM I DOING?

It was a rough week for me.  I took a step back because of the new trade we have been exploring.  The ICE MAN trade is one we are developing to trade around earnings announcements.  This week we saw a lot of over reaction to the announcements and my trades did not fare well.

Thursday’s Webinar Topic

It was a BA-A-AD week for me for the ICE MAN trade. 

I will be exploring trade management ideas when this trade goes wrong

with Larry, Greg and Tammy.