Trade Alert
It’s been a nice trade, working its way higher, but with earnings tomorrow we just don’t have enough cushion to feel comfortable holding through that.
Trade Alert
Bought 15% FCX @ $39.42 Stop @ $37.69 Target @ $46.00 Freeport-McMoRan is one of the world’s largest publicly traded companies focused primarily on producing copper. Copper prices have been rallying through the roof, and FCX should continue to benefit from this. The chart gave us a classic KISS-50 setup, and is now breaking out above recent highs. This gives us a strong reward-to-risk trade from here.
Trade Alert
Bought 10% PLL @ $72.45 Stop @ $65.49 Target @ $88.90 PLL is a lithium mining stock. It’s quite volatile, but has high volume. Please use a limit price order with this stock. We believe solar and battery related stocks may have seen a bottom recently, and PLL has significant upside potential, coupled with support below it from the rising 20- and 50-Day moving averages. It also printed a fresh buy signal on Friday.
Trade Alert
Sold 1/3 of our overall MMM position @ $202.00 (+13.2%) Earnings are tomorrow morning. In order to protect some profits we’ll sell a portion here. The stop on the remaining 2/3 is @ $197.95
Trade Alert
Sold AMZN position @ $3327.00 Amazon stock ran up on the Feb high, put in a slightly higher high, and has since fallen back. This is a Double-B top. At this point we’d say there is a fairly high probability of a backtest of the moving averages before it rallies again. We will consider a break back above $3440 as a solid buy, and would look to enter again then. We are looking to lighten … read more Trade Alert
Trade Alert
Bought 15% MRO @ $11.03 Stop @ $10.55 Target @ $13.29 As mentioned in the Stocks to Watch this morning: We continue to believe that oil will be driven higher as the world comes out of COVID. Oil itself is printing a fresh buy signal today as it crosses the 50-DMA. MRO, Marathon Oil, is poised to turn back above it’s 20- and 50-Day moving averages as well, and should print a Wanderer buy signal … read more Trade Alert
Trade Alert
Sold our UNH position @ $375.30 for a small profit Earnings are tomorrow, and while the chart is looking good here still, there is just no way to know what earnings will do to it. Without a larger cushion on the trade we can’t justify the risk here.
Trade Alert
Bought 15% AMZN @ $3193.97 Stop @ $3058.95 Target @ $3552.00 As mentioned in last week’s Stocks to Watch Wednesday update: “Amazon had a great few months coming out of the COVID lows, but has now spent the past seven months consolidating. We suspect that at any time this could begin its next run higher. During this consolidation period the 200-DMA has caught all the way up so that we’ve got all the major moving averages … read more Trade Alert
Buy-and-Hold Portfolio Trade Alert
Buy-and-Hold Portfolio Trade Alert Bought 5% ($2,000 in model portfolio) LIT @ $60.48 Stop @ $47.00 We recently closed a trade in PLL for a 58% gain. PLL is a lithium mining company. We liked that trade, and the company, but the extreme volatility makes that hard to hold on a long-term basis. In March the market took everything “green” related down. Lithium, EVs, solar, etc. We think that selloff has likely run its course, … read more Buy-and-Hold Portfolio Trade Alert
Trade Alert
Bought 15% FBHS @ $94.50 Stop $88.39 Target @ $109.89 FBHS is a classic breakout trade. After testing the ~$92.50 area a number of times it has broken out 1% above the highs now, giving us decent confirmation that the breakout will stick and continue to run. We’ve got a fresh Wanderer buy signal, rising moving averages with the stock repeatedly bouncing off of those, and now the breakout. While this trade looks good, it … read more Trade Alert
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