Trade Update
MMP stop moved up to $52.14, target price moved up to $64.99 MMP has been performing great for us this month. We are approaching our original target here, but believe oil still has more upside potential, and MMP could also continue moving right along. What we do in these cases is move both the stop and the target up. We move the stop up pretty aggressively so as not to give too much back if … read more Trade Update
Trade Update
It’s been pretty quiet the past few weeks. Our current trading positions began back on April 28th. Since then the Dow is up 1.8% and the Nasdaq is down 1%. Our trading positions have fared better than the overall market, but until there is a clean break to new highs, or a deeper drop into a lower low, we are likely to continue this slow drift. There have been some trading opportunities. We’ve had some … read more Trade Update
Trade Alert
Bought 15% MXIM @ $100.40 Stop @ $96.89 Target $109.95 Very clean breakout trade here after a 5-month consolidation. Potential upside of this move should roughly mirror the previous channel’s width, putting us around $110. Stop back below the breakout level gives us a nice 3:1 reward-to-risk on the trade.
Trade Alert
Bought 15% MSFT @ $247.46 Stop @ $237.90 Target @ $269.95 From our Stocks to Watch e-mail on Wednesday: Microsoft printed a nice KISS-50 on Tuesday. The stock has done this quite a number of times, with about half of them resulting in big moves higher, and the other half resulting in small choppy moves. It has been in a very long uptrend going back years with only an occasional drop below the 50 to … read more Trade Alert
Buy-and-Hold Trade Alert
Buy-and-Hold Trade Alert: Sold XOM position $60.68 in the Buy-and-Hold acct. XLE gives us exposure to this as well. With the XOM Double-B top and the extreme market weakness here, it seems prudent to get this booked.
Trade Alert
Bought 15% KO @ $55.22 Stop @ $53.89 Target @ $60.13 Nice breakout with KO here. The stock has struggled to regain its Pre-COVID highs, but this breakout could very likely be the move that gets it there. Rising moving averages and no resistance on the chart until the high is met. Good reward-to-risk using the rising 20-DMA and breakout level as a stop.
Trade Alert
Bought 15% MMM @ $200.88 Stop @ $194.95 Target @ $218.10 We took a nice profit on MMM recently, selling some before earnings, and getting out of the rest the morning earnings were released. The earnings drop, despite very good numbers, gave the chart a solid KISS-50 setup. As the stock moves back above the low end of the big gap left way back in 2019. The target is a gap fill. We will keep … read more Trade Alert
Trade Alert
Bought 10% TKR $88.42 Stop @ $82.20 Target $99.89 The Timken Company is a global manufacturer of bearings and power transmission products. Timken operates from 42 countries. TKR should continue to perform well as the world’s economies recover. This is an ascending triangle breakout trade. It attempted a breakout last week after earnings, but faded quickly back to the 20-DMA as the markets weakened late in the week. Despite yesterday’s market performance TKR performed very … read more Trade Alert
Trade Alert
Bought 15% MMP @ $47.85 Stop @ $46.29 Target @ $54.44 MMP reported strong earnings which finally propelled it into breakout territory. We continue to be bullish the oil sector, and commodities in general, and this trade gives us tremendous reward-to-risk. Either the breakout holds and we get a gap and go type move, or we are out for a small loss.
Trade Alert
TWO TRADES: Sold FBHS position @ $104.67 Still looking good, but with earnings tomorrow we’re just going to harvest the profit here for now. Bought 15% MDLZ @ $61.19 Stop @ $58.79 Target @ $67.00
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