Trade Alert
Bought 30% QQQ @ $341.59 Stop @ $330.98 Target @ $379.00 Ideally markets would have opened lower this morning and just kept going for a bit, but after making a new low the NAS100 futures reversed overnight instead, giving us a chart that just begs to be bought. We have a Double-B low and strong RSI divergence. This setup often marks a reversal. A 30% trade here gives us a chance to get in near … read more Trade Alert
Trade Update
Moving stops up this morning: Move SPY stop up to $443.49 Move EWH stop up to $24.06 Markets were sold off hard yesterday after a speech from Biden and comments from Fed President Bullard. Bullard, who is always eager to speak on camera for no particular reason, went on Bloomberg News in the middle of the trading day to announce that he wants to hike rates 1% over the next three Fed meetings. This is … read more Trade Update
Buy-and-Hold Portfolio Trade Alert
Bought 5% ($2,000 model portfolio) MSOS @ $23.70 Stop @ $17.49 We’ve been buyers of the cannabis sector in the past, using the MJ etf. We exited that trade for a win a few months back, and since then the sector has fallen nearly by half. The MSOS etf focuses on US based cannabis companies, where most believe the most growth potential is. It’s a difficult sector to value, but we feel that the recent … read more Buy-and-Hold Portfolio Trade Alert
Trade Alert
Bought 20% DIA @ $357.00 Stop $349.95 Target $373.99 All of the major averages are back on buy signals as of this morning. The Dow is the only one above all of its moving averages, and looks like it should have a clear shot to a new high in the coming couple of weeks. It also has nice support underneath it from those moving averages, as well as yesterday’s low.
Trade Update
Move stop on VLO up to $87.89 Move stop on GDXJ up to $38.79 Move stop on SPY up to $441.49 All three trades are well into positive territory, so we’re going to take the opportunity this morning to move the stops up a bit. Oil could very well be printing a cycle high right now, which would likely drag VLO down if it does. Meanwhile gold has just broken out above all of its … read more Trade Update
Trade Alert
Bought 10% EWH @ $24.06 Stop @ $23.19 Target @ $27.79 EWH is a Hong Kong Index etf. Taking a small position for a starter here. We like the possibilities of this chart if it can manage a bit of follow through over the next week or so. It’s in the process of putting in a head and shoulder bottom on the chart. This pattern is notoriously unreliable, but when they do run the way … read more Trade Alert
Trade Alert
Sell 1/2 of SPY position at the market open Thursday Move stop up to $439.89 on the remaining 1/2 Facebook earnings, along with a few other really bad earnings forecasts from others the past few days, has this current rally looking like it may be done for a bit. This comes at a time when the charts are in a good position to begin a C leg down, which could take us to a new … read more Trade Alert
Trade Alert
Bought 10% GDXJ @ $38.00 Stop @ $36.48 Target @ $44.60 The USD is printing a solid Double-B top pattern at the same time that GDXJ is printing a Double-B low. This makes sense, since gold and the dollar usually trade in opposite directions. When gold is priced in dollars and the dollar loses strength, it takes more of them to purchase the same amount of gold. In addition to the favorable technical setup, this … read more Trade Alert
Buy-and-Hold Portfolio Trade Alert
Bought 5% ($2,000 in model portfolio) SHOP @ $933.12 Stop @ $549.00 Shopify, Inc. operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders … read more Buy-and-Hold Portfolio Trade Alert
Buy-and-Hold Portfolio Trade Alert
Two trades— Bought 5% ($2,000) WYNN @ $87.55 Stop @ $66.89 Bought 5% ($2,000) SOXX @ $472.68 Stop @ $417.90 WYNN gets the vast majority of its revenue from Maccau casinos. Last week there was news that China is easing up a bit, and the overhanging threat of severe regulations seems to have diminished. WYNN is also rumored to be looking to unload their money losing online gambling arm. Along with a chart that has … read more Buy-and-Hold Portfolio Trade Alert
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