Trade Aptitude

Results of Tuesday’s Best S&P Futures Turning Points: Buying 4108.00 picked the bottom of the session and ran for 29.75 to the close. Feel better about the win by donating a slice to my preferred charity, the Alzheimer’s Association. Click here.  

Today’s Best S&P Futures Turning Points (careful around the FOMC announcement and Press Conference): 

Buy 4059.25 stop 4055. Short 4186.75 stop 4190.50.

The World Sentiment Index: (+100/-100) rises from -8 to +17 in a world of mixed sentiment and low volatility.  

Catalysts: ADP Employment Report @ 9:15. Final PMI Services @ 9:45. ISM Services PMI @ 10:00. Crude Oil Inventories @ 10:30. FOMC Statement @ 14:00 and Press Conference @ 14:30. 

Quick Tip: Buy Banks?

This has nothing to do with day trading futures, the usual topic here. I found some interesting evidence that may appeal to those of you who swing and position trade stocks and options. 

It’s not news that the banking sector is getting crushed. It’s also not news that Warren Buffett in his annual letter to shareholders (2004) famously said “Be fearful when others are greedy and be greedy when others are fearful.”

The challenge is timing your buy. How do you determine you’re at or near a bottom? What might you use for confirmation? 

Beyond your chart analysis here is a fact that may help you out. In the last week insiders (who know more about their business than anyone else) in State and National banks have personally bought $11,346,211 worth of their stocks. TCBI, LKFN, ZION and USB led the way with millions invested. 

While not a reason to blindly buy, an interesting filter for those who are looking to emulate Mr. Buffett. 

Back to day trading… Our team day-trades multiple strategies with edge. Join the team, learn the strategies, and trade live with us daily for 30 days. Money back if you’re not blown away!

Trade Fearlessly,

Mike Siewruk