Looking Ahead on BGZ and QID

First off, I added a new feature to the blog labeled "Open Blog Trades and Standing Orders" which shows any open trade/trades and any suggested standing orders to either exit or enter the next trade. It also shows closed trades for the year, though as the list grows, I don't know if I will keep all the trades there or not. So I am hoping that the new feature will be an easy summary of trade recommendations to see immediately when looking at the blog.

Now back to business.....The markets are set for a large gap up today which will almost undoubtedly lead to last week's highs being exceeded today. Since we exited the BGZ trade yesterday, I now want to look for a good spot to get back in. Certainly if the short-term model works its way back to overbought today, then I will make another entry recommendation on BGZ. Otherwise it will be next week sometime (likely very early in the week) that I will suggest re-entry.

Now in case anyone in BGZ did not get out yesterday because they did not get the recommendation in time, it does not make much sense from my perspective to sell today after a large gap up because I believe the upside is very limited and will happen quickly. So if you are in this boat, I think patience will pay more than panic.

As for the QID trade, it will obviously undergo some drawdown on this trade, though it could still end up a small positive or near breakeven trade by the next oversold signal.