As we predicted, the market had a nice rebound this morning that continued throughout the day. Most of our stocks on the Launch List have launched. We managed to collect profits in some of them, while the others are still in flight. Not needing to state the obvious, but tomorrow is election day in the US. Most likely we will see a morning pop that will fizzle in two to three hours. We expect the market to move sideways or a little bit lower towards the end of the session. Our advice is to stay in cash by the end of the day so close all your positions.
Since today was a strong day, our scanners have picked several potential Launch candidates. Under normal circumstances, we would keep any of these that Launch tomorrow but once again, take profits quickly if they materialize and abort immediately if the abort levels are triggered.
Here is our Launch Watch List for 11/08/2016: $CORT, $VGZ, $TURV and $WAC.
