I am keeping it very short tonight as I am just not feeling up to snuff. My effort to eliminate caffeine from my daily regimen is taking its toll tonight, but hopefully this pounding headache is short-lived.
The market has pushed into another short-term overbought state and as a result I placed a trade in the High-Probability, Mean-Reversion strategy. I still have two prior trades on, so this is the third open trade in the strategy. My hope is that the market takes a reprieve from the short-term overbought state over the next week so I can close all three positions.
I will you with this tasty nugget from Sentimentrader.com’s own Jason Goepfert:
“We mentioned last week that the Monday after October option expiration had been up every year for the past 14 years. Make that 15 now.
There were 7 times that the Monday was up by more than 1%, as it was today. During the next week, the S&P sported a positive return only 1 time, and its average was -2.1%. The maximum gain during the next week averaged only +0.7% while the maximum loss averaged -2.5%.”
If you haven’t already, don’t forget to sign-up for my :
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