Bought 15% SLV @ $20.67 Stop @ $19.74 Target @ $23.50 Silver put in a Double-B low yesterday. Seasonally, right now is pretty much perfect timing for a rally in the metals, and with the dollar dropping, and appearing to have put in a cycle high, this is about as solid a silver setup as we could hope for. Doesn’t mean this is THE bottom, as metals can make catching the intermediate cycle lows very … read more Trade Alert
Buy-and-Hold Trade Alert: Bought 10% AMZN @ $3410.00 Stop @ $2790.00 Amazon has been in a more or less sideways consolidation for the past 17 months. The last time it ended a big rally with a long consolidation like this it lasted about 19 months before breaking out and rallying another 75%. We expect the next breakout, when it sticks, will be similar. It’s possible that the current weight on the markets will press this … read more Buy-and-Hold Portfolio Trade Alert
Bought 20% QQQ @ $383.96 Stop @ $378.59 Target @ $408.00 It’s easy to bearish right now, but at the same time, the market is giving us some low risk, high reward trade setups. The probability of profit tends to be lower on these, but the risk to a solid stop is very small. In the case of QQQ, the stop is just below Friday’s low, just 1.4% from this level. The chart is a … read more Trade Alert
Bought 15% YUM @ $127.52 Stop @ $120.89 Target @ $144.90 YUM is printing a Wanderer buy signal on a chart that is just begging to be bought already. The stock has been printing nice consistent cycles during this uptrend, and is right where it should be for the beginning of another leg up to a higher high.
Sold our MCHP position @ $85.35 Market indexes are really melting down here at the moment. MCHP was holding up pretty well against a crashing Nasdaq, but that’s going to be tough to continue to do if things keep falling here. We’ll book the small profit and increase our cash position here for the time being.
Bought 20% EZU @ $47.77 Stop @ $46.79 Target @ $50.99 EZU is a Eurozone ETF that is sitting right at major support. If the Omicron threat proves to be less worrisome to the markets than first thought, this should see a nice bounce from here. If not, the stop is very close. Good reward-to-risk trade that could work its way higher for a few weeks based on the chart’s history.
TWO TRADES for the Buy-and-Hold Portfolio: Bought 5% V @ $196.34 Stop @ $129.00 Visa has been a steady climber forever. In the past, any deep pullback like we are seeing now, has been a great buying opportunity, and we expect this one will be as well. It’s certainly possible there is more downside in the short-term, but long-term this appears to be a solid entry. Bought 5% CRM @ $258.77 Stop @ $194.90 CRM … read more Buy-and-Hold Portfolio Trade Alert
Bought 15% CVX @ $115.70 Stop @ $110.94 Target @ $125.95 Oil may have printed a cycle low with this Covid variance (too early to know for sure, though). Meanwhile, CVX is printing a fresh buy signal this morning, after consolidating for a while along its 2021 breakout high. Good support underneath from the sharply rising 50-DMA.
Bought 15% MCHP @ $83.76 Stop @ $79.49 Target @ $93.90 MCHP had a strong breakout move on earnings earlier in the month, then was consolidating along that breakout line before Friday’s market drop. Now on another fresh Wanderer buy signal with a move back above the breakout line. Would expect a higher high from here.