I am taking the day off tomorrow so I will not be preparing another video with new ideas. Tomorrow could be a very volatile day, if the jobs report is not as bearish as the ADP report has indicated it might be, the markets could experience a strong rally. The recent resiliance of the S&P 500 (SPY) and the Russell 2000 (IWM) put them in a much better position to rally than the Nasdaq 100 (QQQQ). Be careful not to chase stocks which have already moved. Think of the buyers of Nasdaq stocks after last weeks Fed meeting, not many of those who chased that strength feel good about those purchases today. Always trade the markets on your terms, do not become influenced by the strong moves which are news related and seem to have the ability to tempt even the most disciplined traders.
On a different topic, it looks like the videos are about the right length for the overwhelming majority of those who participated in my poll, so I will try to continue to keep them between 10-15 minutes. Look for more polls in the future which will help to shape the direction of this blog going forward. Thanks to those of you who chose to email me with more detailed feedback about video length and other related issues.