Trade Alert
Bought 20% QQQ @ $271.83 Stop @ $259.49 Target @ $303.90 Markets have begun to price in a “smooth” election. Post-election markets tend to rise, and we expect more of the same this time because that’s what history has shown us. The risk at this point seems to hinge on there being contested election results. That should be an unlikely scenario, however, so we should begin positioning for post-election. If today’s rally continues we will … read more Trade Alert
Trade Alert
Sold to close our YUM position @ $98.19 The market is very weak right now, and YUM has earnings on Thursday, so it seems unlikely to see much upside before then. Therefore, we’ve closed this trade early.
Trade Update
Market is flat this morning, largely running out of steam the past couple of days. There’s still nothing worrying about the charts at the moment, but it is a good idea to keep inching our stops higher. Moving stops up on all positions: GOOGL stop $1524.90 INTU stop $339.89 CAT stop $158.90 WORK stop $30.98
Trade Update
All our trades are moving nicely our way. There’s no reason to think the market won’t continue higher, but we also have a persistent threat that a stimulus deal will not be made. It only took one negative stimulus tweet from Trump to knock the markets down 3% last time, and I worry another tweet like that will be even worse next time. So, we’re going to continue to move stops up aggressively. New stop … read more Trade Update
Trade Update
GOOGL is popping this morning. It looks like it will reach our initial target of $1533 as it is currently trading above that in pre-market trading. This is a very strong chart at the moment, with a fresh buy signal, and now a potential move through resistance. We’re going to cancel our current target and move it up to $1726. We will also move our stop way up to $1510.95. If the momentum continues, great. … read more Trade Update
Trade Update
Markets are up nicely, and we’ve got some big winners rolling, so we’re going to move stops up this morning just in case something crazy happens this afternoon. You just never know in the current market environment. GOOGL stop up to $1467.89 INTU stop up to $331.90 CAT stop up to $154.19 WORK stop up to $29.98 LLY stop up to $151.20
Trade Alert
Bought 15% LLY $151.20 Stop @ $146.80 Target @ $170.75 LLY has had pretty consistent cycles lately, and it appears it may have begun a new one a couple of days ago. We’ve got a nice buy signal today as it pops right through the 20/50/200 DMAs which should now act as support. We’ve got very good reward-to-rik with this entry. Earnings are in two weeks, which we would have to deal with beforehand, but … read more Trade Alert
Trade Alert
Bought 15% WORK @ $28.50 Stop @ $27.19 Target @ $34.50 WORK (Slack) has been one of the big work-from-home plays during COVID. Stock was beat up on weaker than expected earnings earlier this month, but has been working its way higher since then. It gave us a buy signal on Thursday, and today is breaking back above the 50-DMA, with the rising 200-DMA underneath it for support now. We’ll see if this can establish … read more Trade Alert
Trade Alert
Bought 15% CAT $150.10 Stop @ $142.89 Target @ $172.95 We traded CAT a couple of weeks back on the breakout, but got stopped out for break-even on the market pullback. Markets are back on buy signals here now, so we’re going to make this trade again. Stop is below the rising 50-DMA which has held up as support since crossing above it back in May. Target is a move back up towards the highs.
Trade Alert
Bought 15% INTU @ $324.80 Stop @ $314.90 Target @ $359.95 INTU giving us a fresh buy signal today as it moves back off of old resitance (now support) and through the 20-DMA. The 20 is still falling, which is about the only real negative of this chart, but that goes for pretty much the entire market right now. Meanwhile the indexes are firing off buy signals again, and we’ve got some solid looking charts. … read more Trade Alert
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