Morning Thoughts


It's been a nasty start to 2016.  The sell-off is eeriliy similar to the one that started in early August and culminated with a 'market crash' a few weeks later.  Even price action is similar to the August sell-off, namely the level at which the action started to get real nasty - 4500 on Nasdaq Futures.  I tweeted this late last year:


but all is not lost this time around.  I am seeing more and more people hopping on the market collapse train.  Before the year started I thought we could come back to those August lows.

I didn't think the action would get this nasty this quick, which is probably why we are due for a sharp relief rally.

The action this morning remains volatile and uncertain.  The first hour of trade could see prices fall back to the morning lows.  I think that will make a nice point of entry for dip buyers to run the market the rest of the trading session.



Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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