The Dollar, Financials, Tech and Open Swing Trades

Good Evening,   Davis Martin here with your Blue Chip report and a small overview of what exactly happened in the world today. A lot of people had a nice day going long and short in what has become quite the volatile market today. Very happy to see that!   A short while ago I gave a webinar emphasizing that a solid chunk of the money driving the market had been in the U.S. Dollar and the Financials and showed how there has been a steady outflow in both since the beginning of March. Lower highs on those charts have continued since that webinar. Today, President Trump said that "the currency is too strong," and the Dollar went way down. If overseas markets react to this the way domestic markets did, down goes the Dollar. That being said, banks kick off earnings bright and early tomorrow morning. They definitely move markets. I'll be following those closely as JP Morgan Chase and Wells Fargo both report before the opening bell.   Today's SPY trade of the day had +51% potential in it. Congratulations to those of you who took it!     Open Positions:   I am long BABA at $111.48 with my stop at $108.83. I'm down a little less than a dollar per share on this trade right now.   Today at the close, I picked up UVXY at $20.62. and will not let this trade get more than -5% away from me. I am up nicely after hours. Thesis for this trade: SPY closed below the 50 day moving average line and Geopolitical risk factors have been hitting my news and news feed all day for the past week or so. Additionally, the tech sector (monitored via XLF) is sitting right at its 50 day moving average line now after a few days of lower highs. Tech has been supporting the market up until a few days ago. If that 50 moving average line breaks, I wouldn't be surprised to see a short term drop in stocks such as Apple, Netflix, etc... I'm not saying that I'm going to short it, it is just an important sector to keep an eye on right now.   I have two open swings, and in a choppy market, I am not interested in adding anymore right now, so I have no intention on making additions until my profits targets or stop losses are hit on my current positions as of right now.   A good tip in a market like this, taught to me by a very wise, now retired trader is that the best traders make the best trades, not the most trades.     Trade Wise! 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