I’m not touching this stock market just yet. 

Yeah, the bulls have managed to rally a respectable amount off the lows, 30 points as of this writing, but still a 94 point sell-off, and there have been enough of these kinds of sell-offs before, that it doesn’t take much to pull the rug on traders again the very next day.

So why take on the unnecessary overnight risk? 

I have a couple of long positions left in the portfolio and I’ll continue to hold them, but adding new positions, isn’t necessary at this point. I’m solid in the green this year, despite the market struggling to remain so. There may be a play into the gap in the coming days if the market decides to hold these lows, and if it does, I’ll certainly play it, but right now, there market is giving very little in the way of assurances that the worst is behind us .

join the swing trading block

If you get a handful of new cases here in the United States, it won’t matter what the charts say, this market will go straight down. The headline risk is immense here. Much different than the tariff war, because the headlines aren’t contained to the actions of just a few actors on the world stage, instead this is being played out with handshakes, coughs, escalator handrails (gross!), public bathrooms (even worse). 

That means you can’t do something at the top level of governments across the world to contain the virus, instead, you have to hope that the spread of the virus slows down and less people are infected by it. 

That’s what you call a roll of the dice, my friend. 

With that said, here’s the bullish watch-list for this week:

bullish watch list 2 24