Disclaimer: For education/entertainment purpose only. Invest at your own Risk
The Dow closed the day with a nice rally to end the session with a nice 111 point gain.
It closed at 10817 which was 110 points above the previous close of 10706.
The Dow may make a bounce up from here, but as long as it is in the bearish downward channel and is below 11,200, it is in a bearish mode.
Here is a bullish stock pick for the adventerous.
Take care to jump out quickly with your profits if the market goes in the downward direction instead of a bounce.
Just wanted to give you a reminder that tomorrow is "TRIPLE WITCHING". If you invest in stocks, bonds, options or markets like e-mini futures, they can be seriously effected by Triple Witching. (especially in the last few hours of the day)
It is very wise to not trade on these days because of the extreme potential for rapid reversals in price and trend. If you do want to trade, I highly urge you to proceed with much more caution and trade smaller positions than you usually do.
Below is a definition of "Triple Witching".
An event that occurs when the contracts for stock index futures, stock index options and stock options all expire on the same day. Triple witching days happen four times a year: the third Friday of March, June, September and December. This phenomenon is sometimes referred to as "Freaky Friday".
The final trading hour for that Friday is the hour known as triple witching. The markets are quite volatile in this final hour, as traders are quickly offsetting their option/futures orders before the closing bell. If you are a long-term investor, then triple witching has a minimal impact on you.
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