When Rates Get Cut…THIS asset tends to outperform even Gold!
Quick “On The Road” Market Update
Quick travel note: I’m driving back home from Jacksonville today (I don’t fly), so I’ll dig in deeper tomorrow morning.
Metals-wise, silver caught a bid and tried to break 49 but failed, while gold’s still chugging.
Could gold tag 4,500 by year-end at this pace? Maybe — but up 50%+ on the year means it’ll need to cool off at some point.
No predictions here, just reading levels and keeping size sensible for now.
Two Free Tools I Use Daily
I like simple tools that give me answers fast.
Two I use every day are Barchart’s Trader’s Cheat Sheet and a basic Finviz scan.
Here’s how I use them — step by step.
1) Barchart Trader’s Cheat Sheet
What it is: a one-page numbers sheet. It lists the stock’s key moving averages, pivot levels, and other reference numbers in plain text.
Here’s a link to the cheat sheet for SPY.
If you want to check another ticker, just enter the ticker in the search bar at the top of the page and hit enter.
How I use it:
- I pull it up to see the levels without staring at a busy chart.
- I note the 20/50/200-day numbers, the pivot/Support/Resistance marks, and I write down two or three lines that matter today.
- Then I flip back to my chart and check if price is reclaiming any of those lines by the close.
Why it works: it keeps me from overthinking. It’s just a quick level check before I pull the trigger on a trade.
2) My basic Finviz scan
I keep this one boring on purpose. I want liquid, optionable names that are already leaning in the right direction.
My usual filters:
- Descriptive:
- Country: U.S.A.
- Option/Short: Optionable
- Avg. volume: over 1M (thats shorthand for 1,000,000 shares per day)
- Price: whatever fits your account, but set a floor at $20 or $30 so you’re not in penny stock-land
- Technical:
- 50-Day Simple Mov. Avg.: Price above 50SMA
- 200-Day Simple Mov. Avg.: Price above 200SMA
- Performance: Today Up
Here’s what those screens will look like:
What This Scan Gives Me
Running this scan every day gives me a clean shopping list.
From there I open the charts, put on my 20/50/200 simple moving average lines, and ask one question: Is this a pullback in an uptrend, or noise in a range?
If it’s a pullback that’s holding important lines, that’s where I look for income trades (credit spreads) or directional ideas with defined risk.
When headlines are flying, I don’t change my core process. I keep size reasonable, let levels do the talking, and avoid forcing trades as noise is raging.
Between the Cheat Sheet and a simple FInviz scan, you can find quality names fast and focus on price vs. levels instead of guessing the news or predicting the future.
Stay sharp,
— Geof
