Get Ready For A Big Rally This Week – Watch the Video

February 12, 2018
Author: Peter Stolcers, Founder of OneOption

Posted 9:30 AM ET - PLEASE CLICK HERE TO WATCH THE VIDEO THAT I POSTED SATURDAY I'm going to keep today's comments short and sweet. If you followed my comments last week and you watched the video, you know how I feel. Get ready to make a lot of money this week. Interest rates are at historic lows and the Fed said it does not plan to ramp up tightening just because the 2% inflation target was reached. Corporate profits are robust and earnings are expected to grow 17% this year. Guidance is fantastic and the S&P 500 is trading at a reasonable forward P/E of 16.5. Economic growth will hit its highest level in two decades. The Atlanta Federal Reserve is projecting 5.3% GDP growth in Q1. Rocket man will behave until the Olympics are over. Politicians "kicked the can" and we won't have to worry about the debt ceiling for a year or budget for two years. Bullish speculators needed to be flushed out. The drop was much more pronounced than I expected and it was exacerbated by trading programs. Those same trading programs will fuel the rebound. Swing traders should be long calls. I told you Friday that I would buy the SPY if it reached the 200-day moving average and it did. The capitulation low has been established and we will see very bullish price action the whole week. I am expecting us to close above the 100-Day MA and to retest it. When it holds we will see the next leg higher. After a successful retest in the next 2 weeks I will raise my stop to the 100-day MA. For now, I am holding my position with a stop at the 200-day MA. I want to give the market lots of room. Day traders need to focus on the long side. Buy any dip. Personally I will NOT be day trading. I am loaded up and I am holding onto my long swing trades. We will see overnight gaps higher and that is when most of the money will be made. I told you a couple of weeks ago that I would get more aggressive on a pullback. We got one and we pounced on it. Get ready for a fantastic week. . . image

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