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Thursday, October 12, 2017

Market Update October 12, 2017 - Important Announcement

It's been a few weeks since the last update, and the market has continued to move higher, as predicted... it's been pretty good trading considering the lack of volatility.

Important Announcement:  Relaunch of the membership website is already in the works.

Since closing the membership web site - couple years ago - I've improved my game exponentially, but Twitter is really getting old. Twitter is for political rants, trolls, and deadbeats. "You get what you pay for", I guess, and Twitter is free.   

Lately I find myself losing interest in market timing, because it just isn't that challenging anymore. Some of this has to do with the low volatility, and a rally that has continued for - going on - 18 months, without even so much as a pullback. But this lack of enthusiasm also comes from a lack of incentive.... I've been giving it all away for free here, and on Twitter, for that past few years, save for the few donations that help pay for my charting subscription, and a few hardware upgrades.... This has been a great learning experience, and time to take personal inventory, but this isn't charity work! If it were... I'd feel good about, knowing I'm helping people in need, but trading the market is all about making money, at least keep from losing it all, as so many did in '08.        

It time to make a change, and relaunch the website. This is what it's going to take to help restore my enthusiasm, and just the thought of it has put a skip back in my step.

I just have some paperwork to fill out, filing fees, and the actual build... which shouldn't take long. Very exciting! Hoping to launch before Thanksgiving, and this seems like good timing, as volatility  typically remains low.... this should give me time to get caught up on charting - if need be.

The new website will be similar to the old membership website, using the same web service, and apparently they've made some improvements... Subhub, makes it easy to update on the fly, and subscription renewals are handled automatically. We may make use of a private twitter feed for intra-day updates, and/or a webinar... whatever the case, I'm sure there are better technical options than we had, even a few years ago.

I'll probably offer a basic service, which will include a daily broader market update, and stock pics upon request, and a premium service, which might include intra-day updates, Forex, Commodities, and email, and text alerts. I'm still not sure on pricing, but $99 doesn't go very far anymore, and if you can't afford that, you shouldn't be trading, in the first place. Maybe you only want to subscribe when you're stumped, or when volatility is off the chart, or suspend your subscription during periods of low volatility. I may offer a trial 1 month membership at 29.95, but free subs only attract trolls. Folks who continue to donate to this blog, you can continue as you are, for now.

My short term, and intermediate term outlook.     

Yesterday, the Fed minutes were released, and the market didn't even react, and now we head into another earning season, and you know how that goes. 

At some point, all the good news will be priced in, but as long as there's no fear in the market, the market is going to continue to hold up, and MM's want to lock in gains for 2017. This run up into the end of the year, has everything to do with money managers getting their Christmas bonuses... and nothing to do with stock valuation. This is in part why the market is rigged; greed, over integrity.

I do believe the "powers that be", will want to get the retail short sellers involved, ahead of the holidays, so they can set another bear trap, but Thanksgiving is still several weeks away.

Certain stocks have been run up, ahead of OPEX, and you can be sure those Calls are going to pay, because every trade revolves around the options markets, so I guess, I'd be looking for the market to start consolidating sideways to lower, around the end of October/ Early November.

I'll continue to provide relevant market updates to this blog, but the URL is coming with us, as are the charts, and targets. If you need a chart, donate to the cause (using the paypal link located in the left side menu), and message me @3Xtraders.


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