The Weekly Initial Unemployment Insurance Claims this morning surprised with a decline which shows the economy is far from any recession. Consumers continue to spend as we saw yesterday with home sales. It would appear all the doom and gloom talk of the past couple of days may be a bit overdone. Remember that when stocks take a break and profit-taking becomes the focus, media pundits begin to immediately talk “correction” or even worse.
The first watch list trade for today ended up earning 21% more than the original trade idea.
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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted. Read the full disclaimer.
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