Pre Market Gaps

Brother Bill
August 20, 2024

Not too much going on here in the Pre Market this morning…. Pretty flat. Yesterday I showed a stock that I said we had been day trading but not investing in, it was GOVX. You will see it on the Gap Down list this morning.

Why did we day trade it only and not invest with it? The answer is simple, it didn’t offer the stability of the consolidation zones that we focus on. It did however give us the volatility that day traders thrive off of, and it is again today in the way of a downward slide.

Yesterday it was brought to my attention about a article on GS. How they “Cut” their odds of the U.S. going into recession down to only 20%. Are you aware that only one week earlier that giant bank said the odds were 35% or greater? That’s a pretty big swing. Kind of like GOVX going parabolic then coming back down.

Yes the market just had a tremendous rally but could we see pullbacks before more of an advance? Stay with safety, stick to stability, set profit targets, set and honor STOPS. If you trade with Options consider Verticals on higher volatility plays. Time to grind…

Invest wisely, live charitably and be well

Brother Bill

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