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Tuesday, February 6, 2018

Market Alert - To the Close

Took some plays off the table that bounced but bounced to resistance and stopped. Playing as a relief move, right? Did pick up some AMZN as it and NFLX look the best of the market. Will ride them higher for the bounce.

Concerned about how the market opens tomorrow: Indices are moving to session highs but VIX is moving up off its low; it should be falling as the indices recover. Concerning.

Thus picked up some upside and perhaps are too cautious, but these times are not going to make you rich in most cases without being very, very lucky. They can hurt you however because there is such volatility.

So, we will see how the market opens. If lower, that could let us pick up more AMZN on a bounce bottom and continue upside.

As noted early, the action was never really another breakneck selloff and that was a worry all session.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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