In case you missed it, SPY got crushed again this week…
and Thursday’s session saw one of the biggest 1-day drops (-3.3%) the day after the Fed’s big 0.75% rate hike on Wednesday.
Now, I apologize in advance if what I am about to say stings a bit, but…
to me, Jim Cramer is the ultimate source of entertainment…
…..and not in a good way.
I mean, the guy has had an almost non-stop string of bad recommendations this year…
the latest of which looks something like this:
I get so fired up about this because having as broad a reach as this guy has comes with tremendous responsibility.
Therefore, it would seem that someone with this much power should implement some sort of system to keep his audience from constantly walking into quicksand.
Now, I may not have the same large audience as Mr. Cramer, but I do pretty well.
But even if I had only had one person listening to my views on the market, I’d still know how important it is to implement a system to prevent me from trying to catch a falling knife.
I actually do have a system, and at the start of this week it was instrumental in me presenting the following statement to my members:
“Let me start by saying that this is a week I would be content not to make a trade.
I would be perfectly happy sitting on cash this week and waiting for some volatility to subside.
We are at a very difficult time in the market and I could envision a large swing either way in the coming 1-2 weeks for stocks in general, but I am leaning towards the downside if I had to guess.”
Now, an example of this system, which uses 1x, 2x, and 3x Keltner Bands, is shown on the chart below.
It all comes with live trading sessions, daily pre-alerted trades, mountains of educational content, and a custom scanner that you, as a member, would be able to control.
Yes, we’ve got a long weekend, but the next trading day will be here before you know it.
Please don’t depend on trade ideas from folks whose goal it is to generate ratings.
To YOUR Success!