stock price trading


Stock Trading Alert #2

May 29, 2020, 2:26 PM Monica Kingsley

Despite high yield corporate bonds (HYG ETF) holding ground relatively well after the open, stocks have weakened in the runup to the Trump press conference. Right after the first preliminary soundbites (notably the one that the Phase 1 China trade deal is on), stocks reversed intraday losses, and the HYG ETF moved close to its recent highs. Not that gutting the deal was likely, but the perceived danger that facilitated the earlier selloff (harsh steps and not face-saving posturing) appears very much off the table now.

In other words, the prospects for the stock market upswing to reassert itself are intact, and our profitable long position remains justified.

Thank you and have a nice weekend.

Monica Kingsley
Stock Trading Strategist

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