Good Monday morning to everyone out there. We are setting up a nice battleground today between the bulls and the bears in terms of who will be right vs. wrong. The bears feel like they have to hold stocks below there 200 day Moving Average or else they might lose control back to the upside. The bulls are still tentative to step in as last week was pretty brutal out there. Usually, this leads to a tug-of-war price action in which we might trend sideways until there is a piece of news to give us that final push in either direction. Historically, Options Expiration Week for the month of October is fairly bullish, but that is just one seasonal study.
My advice is to stay nimble in either direction and look for the 200 Day Moving Average to either hold or give way. Volatility creates opportunities for those willing to take advantage.
Eric Marvin
Past performance is no guarantee of future results. Please always consult your financial advisor with questions pertaining to your specific situation.
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