Although the Dow traded higher on Friday, the NASDAQ, the S&P 500, and the transportation index continues to trade lower. The Dow closed very close to the T line while the other indexes continue to trade well below the T line. It will be important to see how the market indexes open on Monday, especially the Dow. If the Dow trades positive while the other indexes trade lower, simple logic dictates that you want to stay predominately short but also can have some long positions in the portfolio. The oil and gas equipment sector is showing good strength.SND, RES, PUMP, SLB, HAL PTEN can be bought on strength on Monday. However, the downtrend in the indexes continues to make short positions much better profitable probabilities. Mark your calendars, April 23 will be a full day of training on the appropriate option strategies to put in place with specific candlestick signals and patterns. The option strategies are very simple. Utilizing candlestick analysis and common sense option strategies provides a very powerful combination for producing strong and consistent profits.
