Here's a safe play for next week if you're looking for stocks for your 401k, oversold on daily MFI and RSI. Should head up until earnings, no idea which way that goes, so I'd bail before then.
Keep an eye on the Dow and YM1! (Dow futures) if you buy any Dow component
Keep an eye on the Dow and YM1! (Dow futures) if you buy any Dow component
Comment:
Note: Rates going down next week (see TLT plot) so I expect dividend stocks to all rise
Trade closed manually:
Market looks so bearish I closed all my long positions, ES1! MFI went overbought this morning
Comment:
Pretty typical of the market to rotate to dividend stocks when things get bearish, then eventually everything tanks. Gonna revisit this one later in the week after the next leg down.