Financials led the market today - up a couple percent.
Can you imagine if that continues? If the big banks start charging up the charts, leading the market? That would suggest the yield curve will steepen, the dollar will stay low, the Fed is done, loan growth will be fine, etc.
That would be a a very strong buy signal - I mean those things have been left for dead but are so important.
It's just one day so it's just noise, but that could be the sort of unexpected event that would give the market back its mojo.
Alright new plan, averaged down to cover my short position (for like the third time lol) BUT I decided to go long on two things yesterday :
1) Palladium. Good metal, shiny, scare, and needed in more quantities for cars since it's used in catalytic converters to reduce emissions. Bought shares of PALL yesterday and palladium futures are up 4% this morning so the market is having mercy on me.
2) Long AXP for earnings after the bell today. Here's why:
Record holiday sales : check
Record people going into debt for sh!t they don't need : super extra mega check.
Immune to trade war : check
Dow Component (so PPT has to buy it to keep the Dow up) : check
YUGE win coming up for me. If scum of the earth bank Goldman Sachs can have a 9% day the AXP can too