Happy Sunday all
It was a rough week for the bulls and there really wasn't any place to hide. However, I believe this is a well deserved pullback that I believe will create some fantastic opportunities. Earning season is about to kick off once again with several high profile banks reporting earnings on Friday. I decided to share this weeks pro member video with everyone. I have had caution flags out for the last two weeks. The volatility plays like TVIX UVXY and the short biased ETF's have been on our radar. We could see a bounce back in equities with the bond market closed on Monday but that may be short lived. There is still reason to be cautious but we can also be opportunistic if the right setup presents itself. Always have a plan for every trade and know your time frame for the trade. If you are looking at a longer term hold play consider scaling into your position at areas of potential support if this correction really picks up some momentum there could be lower prices on deck.
Last weeks Pro Member stocks to watch and their performance For the week
*This weeks Pro Member Video *
NEXT WEEK'S MAJOR U.S. ECONOMIC REPORTS & FED SPEAKERS
TIME (ET) REPORT PERIOD ACTUAL FORECAST PREVIOUS
MONDAY, OCT. 8
None scheduled
Columbus Day
TUESDAY, OCT. 9
6 am NFIB small-business index Sept. -- 108.8
WEDNESDAY, OCT. 10
8:30 am Producer price index Sept. 0.2% -0.1%
10 am Wholesale inventories Aug. -- 0.6%
THURSDAY, OCT. 11
8:30 am Weekly jobless claims 10/6 206,000 207,000
8:30 am Consumer price index Sept. 0.2% 0.2%
8:30 am Core CPI Sept. 0.2% 0.1%
2 p m Federal budget Sept. -- $8 bln
FRIDAY, OCT. 12
8:30 am Import price index Sept. -- -0.6%
10 am Consumer sentiment index Oct. 100.6 100.
Source Market Watch.com
