DPR Update – Sunday 11th June 2017

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The image in today’s blog was doing the rounds in social media after the James Comey testimony.  It seems that Mr Trump really is made of Teflon!

Anyway, I thought it was funny, so had to share.

Moving onto the subject of the market….Friday was a crazy day in the market, particularly the Nasdaq.  For most of the day, traders were scratching their heads wondering why only the Nasdaq was selling off.  However, the other indexes soon joined only to recover quickly into the close.  I suppose the best explanation is that this was just profit taking in the tech sector, as it has been on quite the tear recently.

It’s always disappointing when the market reduces profits after a nice run, But that’s just the nature of Bull Market trends.  They often end swiftly and and feel like a knee jerk reaction at the beginning.

Is this a major trend change?  Who knows, we will only find that out this week.  With the recovery into the close, my hope is that it will continue to recover when the futures re-open today at 6pm and carry the indexes up to a gap up open at 9:30am tomorrow.

But whatever happens I am sure this will be a winning trade, just not as big a win as it was.  such is life.  But a win is a win!

The most important factor in trading is money management and knowing when to get out.  The system has an exit signal, as this fall could get a lot worse. So, historically it’s always been best to get out just in case.  The system will then look to buy into the hook that comes near the bottom, wherever that may be.

I’ll blog again when the next signal comes, enjoy the rest of your weekend!

John