Faltering Thursday – Trouble at the Top of the Range?

November 20, 2014 at 08:18 AM EST

This low-volume rally is a joke . As I pointed out to our Members in yesterday's Live Chat Room, volume on the up side of that v-shaped recovery has been 1/2 of what the volume to the downside was (comparing the last 3 weeks to the 3 before it) , which means this "rally" is nothing but hot air – with very little support underneath . And I know you get tired of hearing me say it and I get tired of saying it but, one thing I learned in 2008 is that you can't warn people often enough to be more cautious. Yes we lose subscribers when we go to cash (not much to trade) but, when the markets do pull back – my subscribers still have money! And it's not like we can't make money with our cash. Just yesterday, we posted 7 bullish trade ideas for our Members, 3 of which we added to our virtual portfolios and one of which, a long on /SI at $16, made $2,500 per contract in 30 minutes and another $1,500 per contract this morning – that's not a bad way to sit on the sidelines, is it? We don't ALWAYS have to be invested. We still have many long-term positions, it's just that we also have a lot of cash in case those long-term positions get cheaper and we decide to buy more. In fact, a few of yesterday's plays were just that – buying more of stocks that we've been liking all year as they go on sale. This morning our Futures are at 17,600 on /YM, 2,040 on /ES, 4,200 on /NQ and 1,155 on /TF and we can go long on the laggard when two of them are over and get out when 3 are below as a bullish play for the normal morning pump – that's how we make a quick $500 for you at Philstockworld! IN PROGRESS

INDU WEEKLY This low-volume rally is a joke.

As I pointed out to our Members in yesterday's Live Chat Room, volume on the up side of that v-shaped recovery has been 1/2 of what the volume to the downside was (comparing the last 3 weeks to the 3 before it), which means this "rally" is nothing but hot air – with very little support underneath.

And I know you get tired of hearing me say it and I get tired of saying it but, one thing I learned in 2008 is that you can't warn people often enough to be more cautious. Yes we lose subscribers when we go to cash (not much to trade) but, when the markets do pull back – my subscribers still have money!

And it's not like we can't make money with our cash. Just yesterday, we posted 7 bullish trade ideas for our Members, 3 of which we added to our virtual portfolios and one of which, a long on /SI at $16, made $2,500 per contract in 30 minutes and another $1,500 per contract this morning – that's not a bad way to sit on the sidelines, is it?

We don't ALWAYS have to be invested. We still have many long-term positions, it's just that we also have a lot of cash in case those long-term positions get cheaper and we decide to buy more. In fact, a few of yesterday's plays were just that – buying more of stocks that we've been liking all year as they go on sale.

This morning our Futures are at 17,600 on /YM, 2,040 on /ES, 4,200 on /NQ and 1,155 on /TF and we can go long on the laggard when two of them are over and get out when 3 are below as a bullish play for the normal morning pump – that's how we make a quick $500 for you at Philstockworld!

IN PROGRESS