We may not make it to the normal market turning point in February at expiration Friday. Unfortunately, the news on China may be longer lasting and two days might not be enough profit taking to provide a real margin of safety. I have written multiple times that the market was maintaining its rally because of hopes for a trade deal with China in two weeks. Now that the meeting appears to be off the table, it suggests the March 1st increase in tariffs may be back on the table.
Add in the economic downgrade of Europe and the approaching hard Brexit and the negative earnings growth for Q1 and we might not make it to the normal February turning point of expiration Friday.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays