Stocks Take a Breather on Options Expiration Day. Plus, Big News!

Big News! Introducing the Smart Money Passport Extended Stay Portfolio.

Two days after the Fed cut rates by fifty basis points, the stock market is taking a breather, while bond traders are taking a step back to see what happens next.  In addition, it’s Quadruple Witching option expiration day, so things may get strange before the day is over.

The New York Stock Exchange Advance Decline line (NYAD) is pulling back after a string of new highs over the last few days.  NYAD had moved outside of its upper Bollinger Band and was due for retracement.  A move toward the 20-day moving average would work off some of the excessive steam.

The U.S. Ten Year Note yield (TNX) is moving higher as traders fear the Fed’s rate cut will reignite inflation.  But the move is starting to lose steam as the RSI is rolling over. Still, we may see a test of the 3.9% yield before things settle down.

We’ll get a glimpse of inflation next week when the PCE data is released.  Yes, there will be a poll!

Big News! – Introducing the Extended Stay Portfolio

Today, I’m announcing an expansion of the service Smart Money Passport Active Trading portfolio.  I’m very pleased with our short term trade results, as witnessed by the most recent triple header profit of over $2000.  But short term trading isn’t for everyone.  So, if you’re looking for longer term trades this is your lucky day, as beginning with this issue, I will be establishing the Smart Money Passport Extended Stay Portfolio. 

With these trades, we will be able to let value plays mature over time.  So, while I will still be offering short term trades with explosive potential, over the next few weeks, I will be expanding the number of intermediate term trending trades (weeks to months) which feature less volatility and allow you more time to decide whether it makes sense for you to enter them. And I will be offering them at no extra cost.  Thus, this is a great time for those who are waiting to hit the Paid button to grab a hold of the now expanding Smart Money Passport.

Thanks to everyone for your ongoing support.  I really appreciate it.

Thanks also to all the current Buy Me a Coffee members and supporters.  Special shout out to new members who now have access to the Sector Selector ETF Service, which is included, at no extra charge with your Buy Me a Coffee membership.

For active trading, short term trading strategies, check out the Smart Money Passport.

I also appreciate single coffees, which you can buy me here.

You’re the music.  I’m just the band.