Stocks Are Turning Back Up On NFLX Earnings

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.”  Ed Seykota

A strong day for some stocks today after NFLX showed nice earnings numbers and took the market higher with it.

I saw some miners really begin to take off so I bought a few who I’ll talk about later in this letter, and I also bought a heavy weighting in TWLO as it found, held, and moved back up off a key support level.

TWLO is one of my top picks right now going forward so I was looking to get a heavy position on weakness.

The metals look like they are ready to make the turn higher with miners leading the way, as they often do.

october-19-2016SPY doesn’t look special here but it’s holding above the 200 day average, but not finding the power to best the 21 or 50 day averages yet.

I can be out of stocks very quickly, just as I can be in them quickly, so I am now pretty heavy into stocks, but still cautious and ready to get back into cash.

I know I said I’d likely not do much for a couple weeks but things can change quickly, and I can change my mind just as quickly.

Have a great night.

Warren

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