Market Report Are the Bulls Back?

Market Report Are the Bulls Back?

By

Todd Horwitz Chief Strategist BubbaTrading.com

Be Prepared not Surprised.

*** A special note, Tradier is sponsoring our Las Vegas event which is at Circa starting on December 5^th and ends December 8^th. The event kicks off Monday night December 5^th with a cocktail party, followed by class December 6^th,7^th, and 8^th.

Markets had a huge week to the upside especially Thursday with the Nasdaq rising over 7%. The other indices participated as well. The rally continued Friday which brings several questions.

Are the bulls back? Have the economic problems been solved? Was the rally a short squeeze? Sd of today we do not have the answers, the price action over the next few days will tell us.

While the markets rallied the election results have not been tabulated. We are still waiting to hear who will control congress. By the action in markets, we might assume the house will turn, however we do not know yet.

The VIX continues to fall indicating Put sellers are back which brings pressure to the VIX. Option traders were buying calls and puts, selling iron condors and selling put spreads. In other words, we have a mixed-up market.

The bulls were buying CVNA, NVDA, MSFT, AAPL, and SPX while the bears were selling GOEV, IWM, TLT, XLF, and GLD. The markets appear to be unsure of where they will go next.

As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control.

Todd “Bubba” Horwitz

BubbaTrading.com

*** A special note, Tradier is sponsoring our Las Vegas event which is at Circa starting on December 5^th and ends December 8^th. The event kicks off Monday night December 5^th with a cocktail party, followed by class December 6^th,7^th, and 8^th.