Set your gain goal!

THE WEEK

Four weeks ago, in our weekly seminar I detailed my predictions for the stock market going forward.  Following were the main 3 points.  How are they lining up so far?

• I think the Feds will hold the interest rate where it is for now. FOMC held current interest rates as predicted

• I think they will lower interest rates at the November meeting. Have to wat until November to see if I am right.  My thinking has not changed.  Still think November is when we will see first rate reduction.

• I believed the stock Market will gradually climb during the late summer and fall leading to the elections. This is a chart of the S&P 500.  The last two weeks have been gradually going up without drama.  On Wednesday, the price action finally broke up past the 52-week high. 

LOOKING AHEAD

This week both FOMC Chairman Powell and Secretary of the Treasury Yellen have major speeches scheduled.  The FOMC is also releasing the minutes of the last meeting.  In the past, these would have all been major disruptors of the stock market’s price/action.  There might be a blip in trading but I believe it will minor and won’t have a lasting effect. 

HOW AM I DOING?

It was a good week.  My goal was a 5% gain for the week.  My gains for the week were 4.3% - a little short. I had a good portion of my margin tied up by owing stocks that were not performing well – CAT and VZ.  I am looking for a good exit point for both which free up my capital for more profitable option trades.  I have set my goal for this coming week at a 6% gain.

And Speaking of Goals

A new Investing Buddy goal for all our subscribers is 5% gains per week until Christmas!

Wesley, one of my Investing Buddies, is rolling out his new trade strategy on this Thursday’s Webinar.  It looks really promising and is NOT a trade that needs constant babysitting.

He calls the trade – POCKET CHANGE