Long Or Short? Where You Want To Be

Posted by Joe Duffy | Oct 13, 2023 | Joe Duffy's Trading Advantage | 0 |

Afternoon sell off on Thursday, but that is not too surprising given the strength early in the week. The SPX still trades above the monthly open and the weekly open, so those are indications of a market you want to be long of, or flat if you choose, but not short of. Earnings from the banks start Friday. If the news fits the chart on JPM, expect a solid report. Overall I continue to favor higher prices, and not really much more to add.

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Starting next week, I will take a day each week to address a well known “market adage” and I will give you my view on whether that adage is true, partially true with caveats, or mostly fake news! Some of the things I believe might not be all you have heard elsewhere. Feel free to disagree! I will start next week with “let your profits run”. Wishing you a happy weekend!

Thanks,

Joe

About The Author

Joe Duffy

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