Bought 10% SLB @ $17.40 Stop @ $16.39 Target @ $23.52 Another fresh buy signal today. This one is a bit risky, as it’s been chopping along this level for so long. The reward-to-risk is great, though.
TWO TRADES: Bought 15% MA $287.90 Stop @ $279.49 Target @ $335.61 Bought 15% SBUX $76.56 Stop @ $75.14 Target @ $81.95 We aren’t exactly convinced the market is going to rally to the moon here, but today’s market action is giving us a ton of solid looking buy signals and breakouts. We trade the charts. MA has been working on a buy signal for a few weeks, but has continuously run into resistance as … read more Trade Alert
Bought 10% F $5.20 Stop $4.85 Target $7.35 The big three auto companies are heading back to work today, and the market seems excited. Although the fundamentals for the auto industry remain questionable, F printed a fresh buy signal and has a solid reward-to-risk ratio. Now that it popped above its 50-DMA, it has a chance to run higher. Our target is based on F reaching the falling 200 DMA, which will likely depend on … read more Trade Alert
Time to move our stops up. BIIB stop up to $319.80 GOOGL stop up to $1349.90 CDE stop up to $3.74 The market hasn’t really budged in the past couple of weeks, chopping along sideways with the 200-DMA hovering heavily up above, but the shorter-term 20-DMA rising up from below. The market is likely to trade between these two for at least a few more days as it waits for some bit of truly market … read more Trade Update
Bought 10% CDE @ $4.16 Stop $3.69 Target $5.79 Gold and Silver stocks (as well as the metals themselves) are printing Wanderer buy signals all over the place. They appear to have put in a daily cycle low a couple of days back and are now rallying sharply through the major moving averages.
Bought 15% BIIB @ $316.40 Stop @ $305.90 Target @ $347.95 BIIB is rising nicely with a fresh Wanderer buy signal today. The stock is above the rising 200-, 50-, and the 20-DMA now. The moving averages right underneath should provide support here, and the stock has both a gap to fill and an obvious target at the recent $348 highs.
Bought 15% AMAT @ $54.47 Stop @ $52.89 Target @ $63.63 With the Fed’s speech out of the way this afternoon, we have AMAT rallying through a key level here. Up above all the major moving averages and through the 200-DMA and high of two weeks ago. This is a high rewrd-to-risk trade.
JPM stop moved up to $94.61 GPRO stop moved up to $3.24 There is a Fed meeting announcement today at 2 EST which could potentially move the markets. We’ll get stops moved up ahead of that just in case it’s negative.
Bought 15% GOOGL @ $1334.16 Stop @ $1269.90 Target @ $1498.00 Google earnings came out good. Solid chart here. We’re looking at this as a potential gap-and-go type trade. We’ve got a strong breakout and move above the 200-DMA.
Move NAT stop up to $7.59 We got a big gap higher again today. Stock is up about 50%, but is well off the morning highs, and if it were to continue dropping this afternoon it would look quite negative from a charting perspective. So, we’ll move the stop up, try to give it plenty of room, and see if it can continue the rally instead.