This week’s trade of the week is likely to be another tough one if the politicians can not come to a helpful solution and bipartisan agreement to our debt ceiling situation. Last week was very bearish with little signs of bullishness making any upside trades very complex. I have been sitting on my hands after stops were triggered and waiting patiently on the sidelines to aggressively act, something that is very tough for me as I seek excitement and thrive on fast-paced action. I expect a premarket gap in the markets for Monday morning, I am just unsure which direction at the moment, but slightly leaning towards bullish. As I’m writing this, we are hearing potentially positive headlines of a deal, but even if we reach a deal before the deadline, will it be beneficial? If not, any bullish action could be short-lived. With that in mind, any trades this week will be at a higher risk due to being handcuffed by the debt headlines.
This week we are eying Newpark Resources (NR)…….SEEKINGALPHA HAS PURCHASED RIGHTS TO THIS ARTICLE SO YOU CAN VIEW THE REST OF THIS ARTICLE AND TRADE DETAILS W/ CHARTS BY CLICKING HERE.
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