Let's Trade: Recent Episodes
Derek Hutson
A show dedicated to bringing our audience bite sized pieces of objective information about financial markets, specifically the NYSE and crypto. We also discuss how to be more successful day and swing traders by utilizing technical analysis.
Announcement: I will be gone on a trip to Italy for 2 weeks starting tomorrow, so no shows until then, best of luck!
In the meantime looks like today the markets are trying to bounce after a week of sliding. Will want to wait for a little more confirmation though, perhaps in the form of a shallow pullback.
Best stocks I am watching with potential are NVDA, AFRM, and MU. Again, always important to wait for confirmation of a good pattern before jumping in.
Best of luck to you over the next couple weeks!
Week starts with a slight day in the red, DOW is the biggest loser ay .75%, however the big loser on the day is crypto with a massive parabolic move down, bitcoin dropping over 10% in the course of an hour in the morning, only to recover about 50% of that drop. Interesting shakeout, now could be a good time to bargain shop on some cryptos.
PII also shook me out after what had a ton of potential on a good looking move today, CRUS was a less dramatic stop out today to end the day -2R. That is the way it goes sometimes, may be sitting on hands quite a bit this month....
All 3 markets start flat in pre market but immediately start sliding down to start the day, likely due to a jobs report that showed new jobs added being way under predicted for August. Likely due to that being the last month of unemployment benefits, my prediction is that we will see a bounce back of jobs for September as people are forced to go back to work.
Since markets are sliding we of course want to look for stocks that have good relative strength to the market. Nothing super impressive so far, but a couple on my list are PII, CRUS, DXC, and ZTO.
Bitcoin and crypto have an overnight slide after a nice weekend of gains, we will see if the beginning of El Salvador using Bitcoin as legal currency today has any effect on price or volume movement. If it does, it will be nothing substantial but a little boost to get some momentum going would be nice.
Markets get whipped around this week all over the place, no idea which way they will start next week. We will need to wait and see what the pre market charts look like...
Bitcoin and Crypto end the week sliding down just a hair but for the most part holding onto some significant gains made over the week. Remember that crypto never sleeps and the market is open 24/7 so we could potentially see some more price action movement over the weekend.
Took 2 trades today, one worked one didn't which will have me end the week roughly break even. Both buy setups, NVDA worked out and PD did not.
We see a huge swing both ways in the pre market chart, with a bit of a rise in the volatility indicator. Could go either way today so may be a good idea to wait a bit for confirmation of direction either way, or find some stocks with relative strength.
Bitcoin, Ethereum and the rest of the crypto market making big moves over night, could be a good play to jump in and trade those markets today.
Buy setups and breakouts are my 2 favorite patterns to trade. Here are the criteria for each:
- Buy setup requirements: Stage 2 uptrend or double bottom retest (W), 2 or more lower highs, less than 50% overlap on pullback bars, roughly 50% retracement
- Breakout requirements: Narrow/tight consolidation, resting volume in core of consolidation, at or near high of day, tradeable void above
SPY and the QQQ finish in the green today, but only barely, to start September which as we mentioned this morning is historically the most underwhelming month of them all. All it will take is one or two FUD catalysts to start a slide, we will see if that happens, although there is nothing in the foreseeable future that could cause that.
Both trades stopped me out today on SAVA and SKLZ, looked like nice entries but that is the way it goes sometimes. This is why as traders we take protective stop losses so we can live to fight another day.
Bitcoin, Ethereum and the crypto market have a huge lunch time rally, will be interesting to see if the momentum can continue up as there is a good amount of tradeable void to the upside for these cryptos still.
The SPY and QQQ start up on the day, in September which historically is the worst performing month in the calendar year. However, this year and last are very unique so we will see if that trend continues...
Bitcoin and Ethereum seem to be on different paths, Ethereum continues to climb while bitcoin continues to consolidate out a bit. Will this trend continue? We will need to see how Ethereum reacts when it gets to 3.6k and if Bitcoin can eventually break above 50k in a meaningful move.
Definitely some opportunities out there to be had to day in the markets, some stocks I am keeping an eye on are TWLO, GDS, FIGS, and SAVA.
All 3 markets end down today, but it is a pretty small loss. So, nothing to be concerned about, potential for another mild green day tomorrow as there is no major market moving news coming up this week.
Took one trade today and it worked out well for 2R on GDS. Great pair of entries but it took about all day to hit target. Sometimes it is like that, other times you hit target within 10 minutes.
Bitcoin looking ok so far, as long as we do not get too far below $46-46.5k. Ethereum seems to be showing relative strength to crypto market still, definitely a few reasons are possible as to why.
Markets start for the first 30 minutes sliding, but have since been in an effort to recover back to the upside. Tech and the Q's still down though for the most part.
Bitcoin showing off some of that crypto market volatility, looks to be in a little downtrend here so hopefully we get some buying activity. Ethereum however is showing good relative strength to the crypto market so that will be an interesting one to watch over the next few days.
Currently in GDS right now after a nice Buy setup, followed by a breakout formation as well. Make sure to scan your universe (list of 300+ stocks)! That is how you are going to find opportunities presented to you throughout the day.
Great day from the get go for Tech and the Q's, SPY also ended higher but the DOW not so much.
As predicted Bitcoin and the crypto markets bounce, going higher just about all day today. Hoping to see a significant move over 50k in the next few days to confirm strength.
CHWY did not work out for a day trade, however GDS did and in hindsight could have made a lot more than 2R. BUT, the trading plan is the plan and we ride or die with our trading plan, which allows us as day traders to consistently get desirable outcomes.
2/3 Markets rising to start the day (SPY/QQQ), with the Q's leading the way. Up pretty big already though so possible to see some choppiness in a bit or maybe a little bit of a pullback.
Bitcoin and crypto market consolidating a bit today still, as it has been over the past few days. No reason to expect any downwards significant moves below ~47.5k, so could be a good opportunity to trade some bounces.
The rip on Friday and the good day to start the day tells us that investors seem to be ok with tapering, as Jerome Powell said Friday that tapering will not begin ahead of schedule. As long as there are no surprises investors should be able to more accurately identify when to buy and sell, which will lead to a little more stability for the next few months until the tapering actually does begin. So take advantage of this time of low volatility!
All 3 market indexes finished lower today as expected, as the Federal Reserve Symposium in Jackson Hole gets under way with investors expecting there to be news of tapering and a reduction of the fed's generous monetary policy.
Bitcoin and crypto holding steady in a consolidation range which is nice to see when compared against the market slide today.
No trades taken today and likely not tomorrow either. Will need to see what direction we go in to confirm a bias one way or the other with volatility indicators spiking up during the day.
Markets today start very flat again, likely will remain that way unless there is a little bit of a pullback depending on what the various Fed reserve chairmen/women say. Due to improving unemployment, a lack of obvious inflation and increased consumer spending it is highly unlikely there will be increased stimulus from the fed, so we are likely going to hear tapering talk which could spook investors and cause a bit of a downturn.
Personally, I will be SOH today and likely tomorrow as well as there is going to be a lot of uncertainty in the markets as investors digest what the Fed executives say today, and Jerome Powell says tomorrow. Now may be a good time to start building up some cash to buy dips that are likely incoming in the coming weeks/months.
Markets open about as flat as can be, and there are not a ton of potential good gaps or stocks to be watched today. Likely will be a SOH day where we do not take any trades.
However a couple being watched are MU, TWLO and THO. Not super convinced on any of them though...
Bitcoin drops below our consolidation range overnight but quickly bounces back up into it. Likely will not see any significant movement here or in the rest of the crypto markets today.
As predicted it was a relatively quiet day in the markets with all 3 indexes closing higher but only just. Trading volume was roughly half of what it normally was. Investors are again likely waiting for the Federal Reserve symposium which is now only going to be a 1 day virtual event on Friday thanks to some COVID virtue signaling. What else would you expect from a branch of the government?
Bitcoin holding towards the lower end of a consolidation at 48k, looking for a bounce here otherwise we could dip back down to 46k more or less and bring the rest of the crypto market with it.
LMND did not workout today on a breakout play unfortunately. That is how it goes sometimes which is why it is very important to take hard stop losses and protect your trading account!
After a huge rally yesterday and the Fed's symposium coming up later this week which is expected to cause some movement in the markets, we are likely going to see a pretty tempered day today. This is good for us day traders as it gives us opportunities to find good reliable patterns that will not be pulled one way or the other unexpectedly by the broader markets.
Some stocks being watched are SAVA, TWLO, and LMND. Only taking trades if t hey present good reliable patterns though!
The QQQ blows by a previous record high, SPY sets a record high as well and the DOW finishes up by a pretty good margin. Great day all around for the markets, hopefully signaling a sign of strength for the rest of the week. Nothing is certain though especially with Jerome Powell and the Fed's symposium up in Jackson Hole later this week, so we will see what happens then.
In the meantime though, VLO worked out quite well for me playing off the momentum that the energy sector had today, MOS got about 60-70% to target but ended the day at break even. Ended the day overall up 2R so good start to the week.
Bitcoin looking solid still holding onto gains, although it is normal that it needs to rest after finally making a push up to 50k. Next target would be around 56k.
All markets start up on the day by pretty good margins, looking to continue the momentum from a strong close last Friday. SPY and QQQ pretty close to record highs though so could potentially see some choppiness around the current range.
Bitcoin breaks above 50k as predicted without a ton of resistance on the way up, next stop would be around 56-58k, however expect some choppiness on the way up, very unlikely to be a straight line up.
Some stocks being watched today are COIN, CHWY, UPST, and MOS.
Markets open a little down but pretty flat for the most part, after a big slide yesterday into support there is definitely some potential today for a bounce. Keep an eye out for stocks that ended at support levels yesterday and are showing a quality pattern today at the open. Lots of opportunities out there.
Bitcoin sitting at 45.2k, near the bottom of the consolidation range we have been in for the past 10 days or so. If markets have a good day today we could see some of that flow into bitcoin and crypto which would be nice as it would keep the upward momentum going.
Some stocks being watched today for long plays are CHWY (Above 94.50), NOVA (Above 32.20), LITE (Above 81.80), and PLNT (Above 73.50).
Stocks gap down to start the day and don't look back, all 3 indexes ending the day pretty far down. However, we did end the day relatively close to a few levels of support so there is a chance we see a nice bounce tomorrow. Will need to see what the pre market charts look like to determine whether or not we are going to have a potential bounce.
No trades taken today, but not losing money is better than losing money in uncertain conditions. Will be planning on looking for stocks that ended down today close to levels of support and putting them on a list. Then in the morning after pre market charts get going, start looking at that list and see if anything is gapping up. Could be a huge profit day if there is in fact a market bounce!
Markets pullback to start the day, even more so than yesterday, so it is looking like it will be a down day. Over the course of a normal week, the major markets ALWAYS have at least 1 down day, potentially more, so if you see strong signs of a downtrend and there has not been a down day yet in the week then that may be the day. Look for stocks to trade today that have relative strength (going up/consolidating sideways while market is going down).
Bitcoin and crypto chopping around in a consolidation to hold onto the gains it has made over the past couple weeks (market strength?), despite the China crackdowns that initially led to a ton of FUD earlier in the year.
It took quite a bit of patience to see the markets into the green today after gapping down and sliding to start the first 1-2 hours of the day. However once we reversed direction around 10-10:30 market time we never looked back. So markets do not seem to be too phased by anything going on in China, Afghanistan, with Delta, etc. Great news there.
Losing trade today was RKT unfortunately, however DLR worked out for about 1.5R which was enough to end the day in the green. Generally, you will see a surge in volume the last 5-10 minutes of each day that goes with the current trend so keep that in mind if you are holding onto a trade but looking to sell at the end of day.
Bitcoin chopping around and sliding a little bit, along with the rest of the crypto market, however as long as we do not go below 45.5k with a significant move we should be ok to continue consolidating before moving up a little more.
Market start the day gapping down after a nice week last week, which ended at record highs for the SPY and DOW. So it is only normal we are due for a little bit of a pullback.
On days like today, you want to be looking for stocks that have relative strength to the market. What that means is that a stock is either moving up or consolidating near its daily high, while the market is moving down. These stocks tend to rip once the market turns around, so make sure to be scanning so you can find opportunities! Unless you are a short trader.. Today may be a good day for you.
Bitcoin and crypto markets starting to consolidate a little bit after a strong run up. If we keep consolidating and don't drop below 44-45k (for bitcoin), we could see some continued upward momentum to around 50k.
All 3 markets close higher, with the SPY and DOW posting new record highs. Look for a pullback tomorrow as investors typically sell on Friday and we have seen quite a few days of gains this week.
SAVA worked out for a winning trade today on a nice breakout play at around 10:35 (breakout = consolidation in price near high of the day, buy when it breaks above the consolidation), however FLGT unfortunately went against us despite a ton of potential room to move up.
Bitcoin slid until around noon but has since recovered nicely to sit back around 44.4k. Again, as long as it does not pullback below 43k we should be in good shape still for Bitcoin and the crypto market.
Markets gap up just a bit but quickly start a pullback to begin the day. Biggest news of the day is the PPI (Producer Price Index) coming in higher than expected, basically signaling that it got more expensive last month for manufacturers/business to produce goods. This of course contrasts yesterday's CPI (Consumer Price Index) coming in better than expected. So we have one measure investors believe is leading to inflation, and one measure showing the opposite. This is why as traders we do not put too much weight into reports because it is impossible to know true market sentiment from them, we MUST look at the charts to determine market sentiment..
Bitcoin pulling back a bit as expected, we hopefully will not see it go below 43k, 42 at the very very most.
Some trades being watched today (not a ton out there yet though) are COLD, WSM, and AAPL.
We called it this morning, the SPY and the DOW both closed higher (SPY with a slightly less impressive gain but a gain nonetheless). Likely due to inflation data coming back better than expected and the infrastructure bill plugging its way to passage.
Bitcoin looking real nice sitting around 46.5k, we could see another pullback to around 42-43k range before it continues going higher. This is about as much of a pullback as we would want to see to assume we are going to continue moving up.
Quick tip, look for a double bottom retest as a great trading pattern to take. This involves a stock moving up and setting a high, coming back down (retracing) to about 30-50%, moving up to at or below the high, then coming back down to that same spot in the retracement. When it hits that bottom price for the second time is when you buy in, set your stop loss below where it has re tested twice and watch it rip.
Trades today, C did not work out (not the best pattern), however BSX did workout nicely for a good 2R gain.
Markets gap up nicely to start the day, largely due to the CPI (Consumer Price Index), an important measure of inflation levels, rising less than expected. Look for some new record highs in the DOW and the SPY when you pair that with the huge infrastructure bill working its way to completion.
Not a ton of good looking gaps to start the day just yet, need to be scanning for some patterns to develop here and then jump into trades.
Bitcoin looking really solid now sitting at 46.5k, still has room to move all the way up to 50k over the next few days/weeks. Look to make some long plays in the crypto market if that is what you are trading. When bitcoin does very well the rest of the crypto market follows suit.
Despite the Dow and the Spy ending at record highs, we saw a pretty tame day today aside from a little late morning choppiness.
ACI and DDD worked out today for day trades, MOS unfortunately was held past the closing bell on accident... Something I would NOT recommend doing as there is no way of knowing for certain what a stock is going to do at the open on the following day. Ended the day at support though so hoping for a bounce to start the day.
Bitcoin still holding steady around 45.5k, if it start another uptrend this one could get us all the way up to 50k which would be fantastic.
Markets open pretty flat to start the day, no real news or events coming around today that could shake things up and provide a definitive move one way or the other.
Not a ton of opportunities out there just yet anyways, looking at COIN to maybe bounce after a big pullback to start the day, DDD looking like it has a nice gap up as well.
Bitcoin still holding strong right around 45.5k, solidifying the gains made over the past few days. Next significant point of resistance is right around 50k so if there is a nice catalyst we could see another good move up for bitcoin and the rest of the crypto markets.
After 2/3 of the market indexes ended the week at record highs, we seem to be starting the week off with a little bit of a pullback. This is normal, how much we pullback though will determine which way we likely head for the day/week.
Bitcoin having a nice rally, and as we mentioned with a meaningful move above 40k we could see it move to about 45k, and right now it is sitting at 45.5k but still on the move for sure. Today is a good day to watch the crypto space for some place if you trade crypto.
Some stocks being watched today are BRK.B, COIN and TSN, of course they may not workout so we will always be scanning the markets looking for new opportunities and patterns to present themselves. When a good pattern presents itself, take the trade without hesitation!
SPY, QQQ, DOW all finish the week in the green, however for my trades we finished the week in red. Not the best week but not the worst either, sometimes that is the way that it goes. It takes years to become a consistently profitable trader, and even then you can't avoid losing. Pick yourself up, take some time off to unwind and get back after it on Monday.
Bitcoin and crypto market having a nice rally, we could really see some move to the upside over the weekend for bitcoin as it has made a pretty meaningful move above 40k like we talked about a couple weeks ago during its consolidation. It also helps that Ethereum has some nice momentum behind it as well, so if you are a crypto trader it seems like a good time to be in the markets!
SPY/DOW gapping up to start the day and QQQ gapping down, however they are moving against their respective gaps to start the market open. Wait and see which direction it is going to go after the first 30-60 minutes.
Bitcoin and Ethereum still continuing their nice runs and bringing up the rest of the crypto market with them. Great to see this uptrend continue, remember to buy on the way up as that is how you maximize profit on long term investments. Time in the markets beats trying to time the market every time.
JD, V, YELP are some stocks we are watching today. Will jump in if a nice pattern is presented but ONLY if a nice pattern is presented. We are traders NOT gamblers. The difference being that traders look for patterns that put the statistics of making money in their favor, gamblers jump in and hope something goes their way.
Markets all end with great moves up, and the QQQ closes at another record high. Could be a pullback day tomorrow since we are near or above record highs so may be a sit on hands day. Remains to be seen.
Unfortunately TSLA did not move really at all today, finishing only 3.71 higher which is an extremely small move for a $700+ stock. Rode it up to a little more than 1R but ultimately it crept back down to break even and stayed there until the end of the trading day.
This caused some great opportunities on UAA, ETSY, and RCL to be missed because of a lack of buying power. But that is how it goes sometimes, so be mindful when buying expensive stocks and make sure that they have a strong pattern to make deploying your money there worth it.
Bitcoin, Ethereum, and the rest of the crypto market enjoying a strong day basically all day through the trading day, hoping that we do not see a slump overnight as that does tend to happen every now and then. Looking good though the past 1-2 trading weeks have been favorable to crypto so this may be the start of an uptrend.
Investors love seeing people work as it shows signs of a strong economy, and new reports out that show weekly jobless claims falling as well as layoffs at 21 year lows surely are making investors feel good about themselves and the economy.
PRICE and VOLUME are 2 very important indicators used in trading that help you gauge interest in a stock and whether or not money will keep flowing into (or out of) it. If you know which way money is flowing and by how much you can more reliably take better trades.
Bitcoin slumping just a bit but after a couple days of nice gains (along with Ethereum and rest of crypto market), a slight pullback is not out of the ordinary especially given the volatility of the crypto market. As long as we can hold onto the gains made and not slide too far down below about 37.5k we should be ok.
Spy ends lower, QQQ ends higher, but no real substantial moves to close out a choppy day.
UAA ended up working out for a nice 2R gain, however DDD did not and the position was exited a little early because of how the market was doing, saved myself about .5R there to end the day at 1-1.5R.
Ethereum seems to be making a pretty nice run, however it is up for 10 straight hourly bars so may want to wait for a little bit of a pullback before jumping in to by some. Rest of the crypto market seems to be benefitting as well, as Bitcoin is also having a nice run along with the rest of the large cap alt coins.
After closing yesterday near the previous record highs, markets may pullback a bit but no way of telling for certain. Best to wait a bit and see.
VERY important to have a pre market routine if you are day trading which includes but is not limited to:
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Scanning for high quality gaps
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Going through trading plan and affirmation
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Taking a breather a few minutes before market opens and when it does open to get your mind right
Having a routine and a plan helps to ensure better success for you, as it helps take your emotion out of trading, which is one of the best ways to make money.
As predicted the markets bounced after a little slide for the first hour or so of the day to close up pretty high in the green. When you see on the charts a pullback to multiple points of pivot support, you can bet that you are going to see a bounce, which is exactly what happened today.
None of our early called stocks really worked out too well except SCCO, however due to constant scanning there was a nice buy setup that presented itself on C that made a nice 2R gain. Always be scanning, there are THOUSANDS of stocks out there that could potentially present you with the patterns you are looking for.
In other news, about 70% of Americans are vaccinated against covid, which should boost investors spirits' a little bit.
Bitcoin still hovering in the bottom range of the consolidation we are seeing after the nice gains made on 7/25. Unfortunately did not see much movement along with the nice green day we had in the markets...
After closing down yesterday right at a point with multiple pivot supports, we are looking for a bounce back to the upside. Should come through for us as investors have a lot of cash on hand as we have discussed earlier, and there is a large buy the dip mentality going around right now...
BTC still slumping a little bit sitting now at $38.4k. If we are right and the market does bounce up, then we should likely see a little move to the upside for bit coin and some of the crypto market as well.
A quick trading tip for you technical analysis minded traders out there, when looking at trends, a move usually consists of 3-5 candles of the same color before it switches to the other color for either a pullback, consolidation, or change of direction. Very rarely do stocks continuously put in trends with 6-8 candles in a row, something to keep in mind so you do not take over extended trades.
Some stocks we are watching today include SCCO, UPST, ETSY, and LMND.
Despite all 3 indexes gapping up to start the day, after about an hour we saw a downtrend that took us all the way into the red to end the day. Pretty modest losses though in the grand scheme of things.
Not a lot of concrete reasoning why we did see this slump, perhaps due to continued China FUD or the recent announcement that they have had drawbacks in their level of manufacturing, which of course the US relies on heavily.
Bitcoin continues a very modest slide now sitting around $39.2k. Not the end of the world though as it is still sitting in a consolidating stage and holding onto the gains made from late July. Ethereum coming out with a software update designed to alter how transactions are processed, some folks saying it could provide a nice price boost. More info here:
https://www.reuters.com/technology/major-ethereum-upgrade-set-alter-supply-fix-transaction-fees-2021-07-30/
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All 3 markets gap up to start the day, however Q's selling off the jump. We will see if it is a pullback or momentum as the day unfolds.
This week is being labelled infrastructure week, as the final proposals for the $1T infrastructure plan are set to be laid out. However there seems to be $730B of unexplained money out there in the bill so who knows what that will be going to (probably not infrastructure).
Earnings season continues this week with some big names across multiple industries set to report. Most likely a lot of earnings expectations are going to be beat, so if you pair that with a beat in expectations for either product line or user/subscriber base then you likely have a stock that will be making a move up.
BTC has a slight selloff over the weekend, now sitting at $39.7k. Not the worst possible scenario, if we can see more consolidations as we keep moving up as opposed to a pullback after every move then that is a good sign of upwards momentum.
Stocks being watched today are TSLA, LEVI, C, and AEO amongst others...
Despite a pretty choppy ride, all 3 major markets ended the month and week in the green. Still sitting close to record highs though, which has investors looking for any reason to sell and take profit. Can't say for certain that there will not be a pullback later in the year but right now investors seem content with sitting on cash and not partaking in massive sell offs.
Bitcoin staging a really nice looking rally, started the morning at 38k and as of now is sitting above 41k. Next major point of resistance is roughly 45k, so if we can keep the momentum going into the weekend we could see a really nice move up for bitcoin and the crypto market as a whole.
Big slide down continued into pre market trading, however markets opened trying to bounce. About 30 minutes in though we are seeing a pullback, so it could really go either way, although investors tend to sell and take profit at the end of the week so it may end as a down day.
Nice trades made on MAXR and FCX today. Looking like we will end the week in the green.
Speaking of green, barring any crazy turn of events today all 3 indexes should finish green for the month, helped along by strong earnings, optimism for a recovering economy, and of course the large amount of cash in investors pockets allowing them to buy often..
Bitcoin holding around 39k, as long as we don't see a slide over the weekend then we should be ok and head into next week with a little bit of momentum.
All 3 indexes end in the green today, however there seems to be a pretty sharp dip forming in post market trading. We will look to see how much of that can get bought back up in pre market tomorrow before the open before we can determine which way we will go to end the week.
New proposal is now in the works to have more federal oversight on crypto exchanges and businesses being required to report crypto transactions over 10k (misstated in podcast about the 10k rule, this is what it actually is). This could be a good sign long term for crypto as it is finally being recognized and adopted as an asset class.
Amazon earnings beat estimates, however sales revenue was lower than expected causing it to take a sharp dip into after hours (likely contributing to QQQ dip). Continues to prove our point that consumers and products are more important to investors than earnings when pricing the value of a stock.
DE worked out and as expected took most of the day, however SCCO could have been about 2R as well but trading plan was broken and we ended up at break even for that one. Learn from my mistakes, stick to your trading plan to give yourself a better chance at making money!!
Markets start the day in the green with a slight pullback, good sign that we will continue green momentum today. However the SPY/DOW are pretty close to record highs again so potential for a consolidation if we get to that point.
DE and SCCO were trades taken today on a buy setup and breakout, so far in the green, not looking to take a ton more while they are open in case market does turn the other way.
Bitcoin holding steady around 40k, great sign of strength that it is holding onto its gains and a potential breakout could be seen if it gets above 41k.
Markets continue to show that user/product base is more highly valued than above expected earnings.
Q's finished the day up, Spy had a very close break even day, however finished in the red and the DOW also finishes down about .36%.
Huge volume spike right at the time that the FOMC and Jerome Powell started talking, showing that investors really take into account what is said from them. Buy/sell volume was split right down the middle though meaning that investors are torn on which way to go, will be an interesting rest of the week to say the least.
Bitcoin hovering above 40k for most of the day which is a good sign of strength, looking for a move above 42k now to really get things moving for the crypto market.
Markets start pretty tame today, so far Q's only index in green but not a lot of major movement.
FOMC and Jerome Powell both delivering statements at 2 ET after concluding their 2 day meeting on monetary policy. There is bound to be some reaction in the market as investors generally put a lot of weight into what those 2 entities say. Be careful if you are still holding intra day trades around that time.
Bitcoin having a nice chance at what looks to be a potential rally, broke above 40k to almost 41, and has pulled back to 39.7k. A pullback after making a move up is not out of the ordinary, what we would like to see now is after that pullback putting in a newer high above 41k.
Markets close down, with the Q's and tech leading the way in losses, largely due to China announcing sweeping regulations over tons of industries located there, which of course are powered in part by tech and tech companies. Could be looking at a continued slide tomorrow based on where the chart for the QQQ and SPY are resting as of now.
Bitcoin holding strong at 38.2k, great sign despite all the China FUD as they are intertwined with bitcoin miners and production. Having said that, I would not be surprised if we take a little slide down again as people sell and take profit on bitcoin after a really tough past few months for crypto.
After a tame day yesterday, markets start the day selling off a bit. We will need about 30-60 minutes to see which direction the market decides to go in today.
Lots of big names coming out with earnings this week, especially in the tech sector, some of which include Apple, Microsoft, Google, Facebook, and Amazon amongst others. Investors are likely anticipating earnings that surpass expectations.
Asian stocks getting hammered as China continues to crack down on multiple sectors. Could be temporary FUD but hard to say for certain without knowing the full extent of the regulations that will be brought down.
Bitcoin seems to be rallying! In the past couple days it peeked above 40k and has since spent quite a bit of time consolidating around 38-39k. We still need to see a significant move above 40k for a real sign of strength but this is a great move in the right direction.
Not a lot of direction today so far from the market, however the Q's seem to be heading in a green direction, time will tell...
Bitcoin holding nicely around 32.2k, keeping its little bit of momentum going into the day.
Not very keen on taking many trades today, in the green for the week and will be gone tomorrow so sometimes it is a good idea to protect profit when you are ahead!
(Sorry for the noise from dog chewing a bone in the background...)
Another day in the green to make it 2 in a row, with 8/11 S&P sectors finishing in the green with pretty substantial gains. SPY/QQQ/DOW all finish up with nice gains of .81%, .77%, and .84% respectively.
Institutions and large cap companies are collectively sitting on around $2T in cash which is likely going to be used to boost the market in the way of stock buy backs and dividend boosts. Good sign for some bullish momentum in the near future.
Bitcoin has a nice rally over the past 12 hours and it is now sitting at $31.5k, great to see considering we anticipated a pretty sharp slide when it dropped below the $30k support area.
JPM, RKT, DAL, and TRGP were all good moves today finishing up in the green, however since we traded a little earlier in the morning we were only able to cash in pretty nicely on TRGP, JPM and RKT stopped us out (did not see a good enough entry for us on DAL).
After a big bounce yesterday from Monday's selloff t he markets are looking to keep momentum going heading into the middle of the week.
85% of S&P companies have beat earnings expectations so far which of course is a good sign for the state of our economy.
VIX volatility indicator is down, pair that with the good start we have for the day and a solid pattern and there are definitely opportunities to make money.
Bitcoin rallies a bit overnight to reach $31.5k which you love to see, looking to break above 32k by the end of the trading day to show a good sign of strength for us there.
Trades we are watching today are JPM, RKT, DAL, and TRGP.
All markets make a pretty significant rebound after yesterday's slide to end the day well in the green. Seems that investors decided to buy the dip, which makes sense considering they have such a large amount of cash saved up than they have over the past few (pre covid) years.
Bitcoin holds right under 30, which is great to see. Likely due to the buying activity seen in the markets today.
10/11 S&P sectors finish higher (Consumer staples ending in the red but by a very small amount), and we are now up about 72% year over year for April-June, a great sign of a pretty solid recovery. Will we be able to continue the momentum heading into August? Only time will tell....
Great trades were made today to make some money on AAPL and RKT, with Apple being the main money maker. On days like today though, as long as you have a decent pattern it is pretty tough to not make money. We will see if we can continue the momentum going into tomorrow or if investors will take advantage of the surge and sell off to take some profit.
Markets gap up in post market yesterday, but starting to pullback a little bit in pre market today. Remember that fear in the markets is much stronger than greed so we could see a continuation of yesterday's selling.
Having said that a lot of stocks gapped down to support yesterday so we could potentially see some bounces and opportunities to make money as well. Give the market some time to play out though.
Bitcoin goes below $30k, likely some pain ahead as next support level is not until mid $20k range. Now is a good buying opportunity but would not recommend too much of your portfolio be in bitcoin and crypto just yet.
Earnings season continues across various industries, however with the US10Y sliding investors are likely going to err on the side of caution as the 10Y is generally a sign of how the Fed sees the economy's strength (higher yield -> stronger economy and vice versa).
All indexes end down in a pretty sizeable red day, however there is hope as post market trading is gapping up quite a bit.
The pullback today is likely due to the fact that the market has been so overextended for many months with no real pullback or corrections. This is normal and part of the game.
BTC basically flatlines for the day and doesn't move after hovering right above 30k. Really do not want to see it go below 30.
3 trades today, 1 stopped us out (D), and 2 made a little money (WORK, RKT), less than target but enough to put us in the green for day trades today. Back at it tomorrow.
All 3 indexes gap down to start the day, however the VIX volatility indicator spikes overnight to put us in an uncertain state starting out the week. Will be SOH for a bit after market open to see how it starts to play out.
Remember, number one job as a trader is to MAKE MONEY, you do not do that by trying to force trades because the market can and will do anything at any given time. Let the patterns develop that put the odds in your favor.
Bitcoin dancing on the edge of a pretty big fall sitting at $30.7k, if it drops below 30 we could be in for some serious pain.
Big cap companies across multiple industries report earnings this week, will be a nice look into how consumers are coming back into the economy but in terms of stock prices it is just another variable that shouldn't be given too much weight.
All 3 indexes finish lower on the week capped off by a pretty good slide down today, after what looked to be a bullish gap up in the pre market.
Energy continues getting hammered and is now officially in a down trend (multiple lower highs being set). Despite great earnings reports the financial sector fails to get any momentum going.
Personally, it seems to me that investors this week were trying to price in inflation as multiple comments from Powell and Yellen were made that suggested inflation is coming, however it would be temporary. So investors are likely selling to take some profit while they are ahead.
Trades did not work out today, but that is part of the game. We talk a little bit about what your risk management should look like as a day trader, don't miss out on it!
All markets gapping up today, perhaps from news out of the retail sector where sales rose in June .6% despite economists expecting a .4% decline.
Bullish bias on the day, long play favorites as of now are RKT and FOUR, but we of course need confirmation when market opens to see if we want to jump in.
Bitcoin bouncing off support as expected, hopefully we can see some continued upwards momentum with the bullish bias on the day.
Markets struggle to find any real direction but eventually end the day down, except for the DOW which creeped up to a very small gain on the day.
2/3 trades did not go as planned today despite what were pretty solid entries, but that is the way it goes and we will be back at it tomorrow.
Energy sector continues to decline, is this the start of the green revolution or temporary FUD?
Bitcoin close to the edge of falling off a cliff below our major support level. Looking for a bounce otherwise we could be in for some pain.
Markets chop around again for another hot mess, struggling to figure out which direction they are going in.
Took a trade on C to make 2R, however we were stopped out of SPCE and SCPL unfortunately.
Unemployment claims hit a pandemic era low last week of 360k, definitely a nice sign that the economy will continue to move forward.
Financial and Industrial industries doing well today, tech not so much and energy continuing to get hammered.
After an extremely whippy day with a slide leading up to Jerome Powell's remarks on the state of the economy and the Fed, we had a sharp recovery to close a little higher after he said they are not going to ease up on easy money policies anytime sooner than expected as of now. There was of course a lot of chop on the way back up to that higher close though...
Energy sector absolutely hammered today and down almost 3%, likely due to the EU and China pledging sweeping reforms to limit greenhouse gas emissions and fossil fuel consumption, and potentially imposing levies on imports from countries that still have high rates of pollution. This would of course include the US.
Bitcoin stays steady throughout the day, been a boring few weeks for bitcoin but it seems that it and the crypto market are resting now that they are out of the limelight (and Elon Musk is not tweeting about it anymore).
Markets gap up, in the green so far but extremely choppy and struggling to find direction one way or the other. SPY looks to be in slight downtrend though.
Every large cap company that reported earnings well above expected today are tanking so far. Goes to show that the CHARTS are the best indicators of market sentiment as opposed to news, earnings reports, press conferences etc....
Bitcoin bounces off the 32k support range, can it keep the momentum going up? Not feeling too optimistic but we will see...
Markets all close slightly down on the day, most likely due to a 5.4% YOY increase in the CPI index. This however seems only natural to me as money velocity was significantly lower in June of last year due to lockdowns, and we now have a much larger amount of money in supply due to multiple stimuluses' since then.
Tech is the only S&P sector out of the 11 to end the day in the green. We were able to make some money trading JD though in the morning before the afternoon slide so good day overall.
Slew of financial companies set to release earnings tomorrow despite financial sector getting hammered today. Could it be an artificial dip for investors to buy once all the banks report better than expected earnings? We will see...
Markets gap down to start the day but within 30 minutes have recovered to either green or around break even.
First set of earnings for big players come out, some move up some move down in price despite all of them beating earnings estimates. Great example of why investors and traders need to look at charts to gauge market sentiment as opposed to news and other reports.
CPI is up .9% for June, a potential indicator that inflation could be around the corner.
Bitcoin on a little bit of an extended slide, down to $32.5k from $35.5k. Sitting at our major support line so looking for another bounce.
Markets all close in the green, however we had roughly half the normal amount of trading volume.
Likely due to investors waiting for a slew of earnings reports set to come throughout the week, and the adjusted CPI for June that comes out tomorrow morning.
Multiple bank stocks had nice gains for the day, investors likely anticipating they are going to beat expectations. If they do there is definitely room to move up for the banks.
Bitcoin slides down throughout the day, now sitting at $32.7k.
We are sure to be in for a wild week as earnings come out for some big names, JPM, Goldman Sachs, Delta, and Bank of America to name a few. Depending on how these do they could definitely swing market sentiment one way or the other.
Favorite Long trades today are NYT, and MPW if the buy setup shapes out.
Bitcoin has a little early morning slide down to 33.5K, will be looking to see what it does as market opens up and starts to move.
Great day today in the market as we saw gaps up to start the day with no signs of slowing.
The exception would be the Q's and tech, as it started a little choppy as investors digested news of a new executive order aiming at cracking down on big tech companies monopoly over their respective market. Investors did not seem too fazed though as most mega cap tech companies finished higher, albeit with very small gains.
Financial and Energy sectors finish way high, investors may be anticipating good news from earnings by large banks coming up next week, and of course the price of oil going back up buoys the energy sector a bit.
BTC remains steady at $33.5k, and the rest of the crypto market holds onto gains over the last 24 hours as well.
SPY and DOW gap up and climb to start the day, QQQ extremely choppy as presidential Executive Order looms that would potentially limit big tech's market dominance.
Investors seem to have mixed feelings about where economy is going. On one hand since there is so much pent up supply it can be said that a ton of cash will flow into economy. However we are over extended so some investors say that the next large pullback could turn into a correction.
IMF and world bank come out in support of digital currencies, which is great for crypto market. However, they did not specifically support any coins, rather they seem more in favor of digital currencies tied to countries as opposed to decentralized currencies.
After a huge gap down this morning, the markets gave a valiant effort to recover but were not able to, with all 3 indexes ending the day in the red as well as all 11 S&P sectors ending the day red.
Don't expect a big move one way or the other tomorrow as investors likely wait until next week when Q2 earnings reports start coming in, specifically from banks. Likely to see banks doing well as there has been an extremely high amount of auto and credit loans to consumers over the past few months, and of course more loans means more interest and money for banks.
US10Y falls for the 8th straight session to 1.295, potentially because of investors covering their bond market shorts or the Fed reinforcing their stance on not ending easy money policies anytime sooner than stated.
Bitcoin hovering around $32.8k, hoping to not see a move down below our 31-32k support level as it is a long way down potentially after that.
Markets gap down to start the day, with all of them about %1.5 down. This however was largely due to a sharp dip a few minutes after the close yesterday, markets consolidating for the most part now which means buyers are stepping up.
State unemployment claims for the last week came in at 373k, 23k over expectations with 200-250k being a benchmark for a healthy labor market. This of course comes on the heels of June being the best month in the past 10 for businesses hiring, an interesting contrast for sure...
Market volatility has made a pretty large jump over past 2-3 trading days.
Oil price stabilizes, doesn't seem to help the energy sector much today though. Tech, Financial, and Industrial sector also getting hammered. to start the day.
Bitcoin takes a drop to 32.5k, hovering around our support area of 32k, hopefully we will see a bounce instead of a continued drop.
SPY and QQQ both end at record highs for the day, DOW finishes green as well.
Investors did not seem phased by what came out of the Fed today from its June 15-16 meeting, likely because there were a lot of "we might" statements that did not definitively signal early tapering of asset and bond buy back programs. The US10Y rate also fell today against expectations, which certainly makes investors feel better.
Market buoyed by various sectors today, however one noticeable absentee was the energy sector, as it took a nice little slide today due to the significant drop in crude oil prices over the last 48 hours.
Bitcoin still holding steady at $34.5k, nothing exciting here...
Markets start the day gapping up but quickly start sliding, perhaps anticipating what the Fed is going to say with their meeting minutes notes from June (released at 2ET). Would NOT recommend being in intra day trades at that time as markets will most likely react one way or the other.
Crude oil price/barrel continues to slide, likely due to OPEC stalemate on how much oil should be produced and exported in the near future. One can only hope this will cause gas prices to go down a bit....
Gold dips a little below $1.8k/oz, nothing too substantial here, same with Bitcoin which is still hovering around $34.7k. However the rest of the crypto market seems to be enjoying the lack of FUD selling, quite a few alt coins have made nice gains over past 24 hours.
NASDAQ closes higher at .17%, S&P/DOW finish lower at .2% and .6% respectively, S&P breaks 7 day winning streak. Seems to be normal profit taking from investors as no substantial news is out today and the FOMC is coming up tomorrow.
DIDI shares plunge on news from the Chinese government, goes to show how much governments affect stock prices quickly.
Lighter volume tends to increase trading volatility, which we definitely saw a perfect example of today.
Bitcoin stays around 34k for the day, definitely nice to see it not being heavily affected by the morning sell off as it certainly has been tied closely to sell offs historically (especially in the tech stocks).
Oil all the way down to $73.71/barrel towards days end, a drastic drop from the overnight peak of $76.90 due to disagreements at the OPEC summit between Saudi Arabia and the UAE on the rate of future crude production.
Q's start up for the day, while S&P/DOW start down. Big names such as Apple and Amazon leading the way so far.
Oil peeks above $76/barrel overnight, back down to around $74 now, with the volatility likely due to differing opinions on rate of production between OPEC powerhouses. Energy sector down to start the day despite brief spike in oil prices.
US10Y and Volatility index both down to pretty low levels, making this a favorable day for intra day trades.
Gold creeping up over past week, now sitting over $1.8k/ounce which could mean investors predict a weaker dollar in the near future.
Bitcoin has a nice weekend almost getting to $36k, however it has since come back down to $34.1k. If nothing else we are forming a very strong point of support for Bitcoin while we patiently wait for the breakout above $40k.
Relatively slow week for market moving news, however we do have the June FOMC report coming out on Wednesday which will give investors a better idea of the central bank's stance on inflation and accompanying measures they will take to counteract it and support economy.
After a very choppy start to the day, all 3 indexes close higher with the S&P setting a new record high for the 6th straight day.
Consumer Price Index is up 3.5% from 1/21-5/21, which is a pretty substantial increase but that number drops to 2.4% if you take the food and energy sectors out of the equation.
Employees seem to be content with being unemployed short term while they either switch career fields or negotiate for better benefits (think higher pay, remote work arrangements), which could spook investors as a sign of increased unemployment.
However despite what appears to be a quick recovery so far YTD, investors do not seem to be worried about the Fed moving up their timeline for raising interest rates. If that is the case we could continue to see some serious buying heading into the summer that continues to push indexes higher.
Markets all gap up to open, but immediately start whipping up and down perhaps signaling some mixed feelings for investors.
Energy sector leading the way in gains, with prices going up due in part to crude oil jumping up overnight to $75 a barrel.
Last weeks unemployment claims came back at a pandemic era low of 364k, perhaps a good sign to come with investors waiting for the monthly jobs report for June set to release tomorrow.
Bitcoin drops overnight to around $33k. Not below our support level of $32k but definitely not in the direction we want.
A small gain for the S&P puts it to a new record high, with the Dow also making a nice gain but tech having a tiny loss on the day.
Institutional investors are sitting on larger than normal piles of cash, ready to be deployed, which further adds to the summer bullish sentiment and will hopefully keep any dips from turning into larger corrections.
Home sales in May reached their highest prices since 2005, however the mortgage demand over the past month has gone down. With materials starting to not be in such short supply, and demand for new home mortgages going down, is this a sign that the market is cooling off? Or will it continue at its blistering pace?
Bitcoin still hovering around 35k, nice to see a consolidation here which is likely due to the FUD sellers having already exited their positions. If we can make a meaningful move above 40k then expect a pretty hot rebound for bitcoin and the crypto markets.
Markets open down but quickly start to recover, showing mixed sentiment on the day for investors as we finish out Q2.
Bitcoin hovering around $34.6k, a nice support level has been formed around 34k so as long as we don't fall below there that will certainly be a sign of positive momentum for crypto market.
Private payroll reports an increase of 692k, more than the expected 600k by economists, potentially a sign that businesses are coming back and will be able to entice workers to come back as well.
Hospitality and leisure industries adding back jobs at a solid pace, along with consumer goods and materials industries such as mining, construction, and manufacturing.
Friday will be the release of the US Labor Department's jobs reports, investors will be watching as it will either confirm or go against the narrative that businesses and workers are indeed coming back in force to keep pushing the economy to newer highs.
All 3 indexes close higher today, albeit very flat for the most part, Q's had the largest gain of .36% to set another record high.
Bitcoin holding out above 36k, slight drop below after hours but again nothing too dramatic to see here.
Investors seem to be in a wait and see position for today, and potentially tomorrow as well as we wrap up the 2nd quarter and the S&P looks to finish up for the 5th straight month.
Consumer confidence index comes back higher than expected by analysts, meaning consumers feel good about their financial position and their ability to go out and spend money in the near future.
All 3 major indexes are up in the green today, with Dow leading the way and S&P continuing to push higher into record territory.
Industrials, banks, and energy leading the charge so far.
United airlines and Boeing putting in HUGE orders for new aircrafts, in what has to be seen as a big bet that the travel sector is going to have a big bounce back this summer as consumers venture back out into the world and spend some of their record savings.
Halfway through the year we see the S&P up 14%, and Dow/Nasdaq up 12% each. Investors are optimistic this uptrend will continue into the summer months.
Bitcoin holding steady over 36k in what is hopefully a good sign for it and the crypto market as a whole.
Spy and QQQ close at new record highs, buoyed largely by Tesla Apple and Microsoft all gaining well over 1% on the day. Dow finishes slightly down.
US10 year down to 1.47 from 1.54 on Friday, helping tech sector rally as this usually means cheaper borrowing for tech, a sector that relies heavily on borrowed capital.
Some more events that traders are looking at in the coming week are the June jobs report due Friday and the OPEC meeting on Thursday.
Commerce department inflation indicator was up 3.4% in May, largest jump for a month since 1990's, perhaps signaling that inflation is coming soon and will be around longer than anticipated by the fed.
QQQ up a decent amount to start the day, with Spy and Dow both falling, likely due to uncertainty around the president's comments going both ways on the fate of the infrastructure bill.
Bitcoin peeks up above 35k again, holding in the range of $30-35k is a good sign but of course we need a significant break above $40k before we declare real signs of strength.
Slow week on the news front, with the most significant development coming on Friday as investors wait for labor market data.
All 3 major indexes gap up to start the day, Dow continues going up while Tech and the Q's pullback a little.
Investors get excited about asset recycling, which in a nutshell is the government selling their property to private parties/companies (think airports, utility plants, and roads).
Consumer spending report comes back flat for the month, and consumer income is down 2%. These factors may help stave off inflation for a little longer.
Bitcoin still hovering between $32-34k, relatively uneventful.
Substantial gains today for all 3 indexes, with the Spy and QQQ setting new all time highs led by the Financial, Energy and Tech sectors.
Big news of the day comes out of DC, where a bipartisan committee has come to terms on an agreement to move forward with President Biden's infrastructure plan. Total cost is agreed to be around $600 Billion and will focus on items such as power grids, public transportation, electric vehicle charging stations, high speed internet in rural areas, and replacing lead water pipes.
Bitcoin crosses above 35k and holds out right below there to end the day, good sign but still looking for that cross over the $40k mark to show true strength.
Market gaps up quite significantly to start the day, coming off news of weekly unemployment gains falling and record number of job openings.
Economy is in an interesting place due to raw material shortages, inventory surplus, and record level of consumer savings. Will this play into an inflation scenario?
Bitcoin still holding between the $32-34k range which gives us a nice breather after the recent slide and volatility.
Market closes slightly down but flat for the most part, a welcome calm day given recent volatility.
Fed Reserve Governor Michelle Bowman says inflation seems to be happening sooner than expected, but long run will be manageable. Some Fed Executives want to speed up the timeline for backing off of easy money policies, however chairman Jerome Powell seems to be remaining firm on his stance on the timeline.
A reminder that money velocity influences inflation as well as supply, which could play a role due to the revenge spending taking place this summer.
Bitcoin holding around 33-34k, still need to break 40k to show true signs of strength.
Dow, Spy, and QQQ all open relatively flat but up, looking to build on record closes yesterday. So far energy sector is buoying the Spy to gains on the day. Bitcoin creeps back up above 34k after erasing the 10-15% losses incurred over the past couple days, highlighting its volatility and showing it still has a way to go to show true strength.
QQQ closes at record high, Spy and Dow also see a small gain thanks to tech to finish out the day and continue weekly momentum. Gold price and US10 year remain the same. Value and growth stocks continue to rise rewarding holding investors looking for long plays. Highest performing sectors year to date are energy, real estate, and financials. Crypto has a small rebound but still has a long way to go before showing true strength again.
Spy/Dow open flat after huge gains yesterday, QQQ opens with very tiny gain as investors await Jerome Powell’s remarks later today. US 10 year treasury remains steady around 1.48. Gold continues to stay in a slump, Bitcoin even more so as it falls below a crucial support level at 30k. Housing market seems to be picking up even more steam (is that possible?) as material prices come back down to earth and new builds pick back up.
The DOW rose about 500 points today to start the week to completely erase the sharp dip we saw last Friday. SPY follows close behind with a good gain and NASDAQ has a more modest gain. Crypto markets still taking a beating, with Bitcoin down 10% over last 24 hours and other large cap cryptos not looking good either. Travel stocks up, vaccine rates up, and unemployment rate lower could be leading to a summer of big gains for the market.
Markets opening near last weeks close but looking to rebound from worst week in months. Crypto markets down as China continues to crackdown on Bitcoin as a usable currency as well as the mining process. US 10 year treasury yield up sharply overnight, along with volatility index signaling that investor are not yet done digesting news from the fed last week. Market can and will do anything, remember to diversify your investments and stick to trading plan if day trading.
Markets close down for worst week since October 2020. The fed says they will not move away from easy money policies until 2022 but the markets seem to think otherwise. Keep an eye on what the pre market gaps look like heading into the new week. Happy Father’s Day to all the dads out there, enjoy your weekend you surely deserve it.
Markets looking to end the week down. Tech is the standout, which may be ending the week up depending on the rest of the day. Biggest market news this week comes from Jerome Powell and the federal reserve, saying that ‘tapering’ is a term that needs to not be used anymore. He continues to say the Fed will give plenty of notice before they limit the buyback of bonds and start to move away from the current easy money policies.