The sentiment on the market is very positive, dips are being bought and investors are getting more confident. As long as we are following the rules of trading of buying cheap and selling high...we should be ok.....IMHO
For tomorrow, I shall continue to remain cautious.
Here are a few charts:
I am expecting a rally for IWM towards 51, of course the surprise is for a descend to 48. Anything can happen during OpEx...especially when we are in the middle of the month.
Gold is still in an uptrend. The leaders were GOLD, RGLD. If you want a good entry into miners, try AEM...this company beat earnings and is no where near the top. So there is still plenty of room to move. Buy on dips or on continuation of the move up. But....I think you need to watch the dollar!
Currently there are more calls options for JPM May Options, my suspicion JPM's pin is 34....But this stock has been great on its intraday moves for a decent daytrade.
We have Retail Sales numbers in the morning. I am Watching AMZN for a daytrade.
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