The Holidays are upon us and many people are busy hosting guests, spending time with family, shopping for those bargain deals and putting together their New Year's Eve plans as well as resolutions. However, as hectic as things may be, DO NOT neglect your portfolios.
If previous years are any indication, we may see a bit of a selloff in the final week of the year. This is often due to profit/loss taking by traders looking to report them on their 2017 taxes. They then often buy right back in after the first. Last year, we saw a dip in the Dow heading into the final trading days followed by a nice gap up after the 1st. I see no reason for us to expect anything different this year.
Today, in our final trading session of 2017, we looking at trade on GOOGL, DIA, GS, JNJ, AMZN, T and others. We used past performance as a high indicator of this week's potential outcome, combined with technical indicators to justify the moves.
As you are cleaning up your homes after the Holidays, make sure you do not neglect cleaning of your fiscal home as well. As always, we are here to help.
Join us this week for a free Live Trading Class, where we will demonstrate the incredible power of Option Spread Trading, take a look at how we did this past year, and set our sites on specific opportunities heading into 2018.
To join us, simply click here to register: REGISTER FOR FREE EVENT.
I hope to see you there!