Markets headed higher again this morning. We’re going to take the opportunity to move stops up a bit. AMZN stop to $2084.90 SNPS stop to $152.90 DB stop to $9.97 COST stop to $299.89 Amazon is really breaking out nicely here. Of course Amazon stock has a way of “wiggling” three or four percent in a day pretty easily, so we’ll continue to give this one plenty of room, but at the same time be … read more Trade Update
We’re adjusting a few stop prices this morning. SNPS stop to $151.20 COST stop to $298.95 DB stop to $9.89 DB got a jolt of good news on Thursday when word came out that the well regarded money management firm Capital Group had taken a 3.1% stake in the company. The stock jumped about 14% on the news. Looks like our timing was perfect. It may seem like we got lucky with that news, but … read more Trade Update
Bought 10% SQM @ $30.31 Stop @ $27.29 Target @ $44.90 SQM is the world’s largest lithium producer. We’re interested in getting into a trending longer-term position in this sector and the SQM chart is giving us some nice signals at the moment. SQM recently broke above the 200-DMA. The last time it made a clean break above the 200-DMA, back in 2016, it climbed 100% in the next twelve months. The chart gave us … read more Trade Alert
Bought 10% AMZN @ $2061.59 Stop @ $1988.90 Target @ $2390 Amazon is breaking out to new highs after a couple days of sideways action following their big earnings beat. Lots of analyst upgrades here. Hard to think of a bearish case for Amazon on its own, though the market/economy could always drag it down a bit. We’ll try to get in a small position here and get ourselves some cushion.
Moving stops up: SQ stop up to $79.90 SNPS stop up to $150.95 VEEV stop up to $152.55 Markets climbing nicely here. China coronavirus is about the only big black flag flying over us at the moment, though the market seems to be doing a good job of ignoring it. We’ll move stops up here to protect ourselves against a sharp reversal, but still try to allow enough room for normal intraday wiggling. We are … read more Trade Update
Bought 15% VEEV @ $152.55 Stop @ $144.95 Target @ $176.89 VEEV has been in a period of choppy consolidation for the past few months. It gave us a nice buy signal the other day, but still had some work to do to punch through the moving averages. Today it’s moving through the 200-DMA. We’ll look to see if it can carry this momentum back up to the highs.
Move SQ stop to $78.95 and target to $99.90. We’re willing to risk $1 off of our initial target in order to give this room to possibly run much higher.
Our SQ trade is set to gap above our target price of $80.00 this morning as the market jumps over 1% in pre-market trading this morning. We will cancel our sell price of $80.00 before the market opens, but will be monitoring it closely. After the open we may still sell at $80.00, or ideally the stock will open higher and continue to move higher, at which point we will simply move our Stop price … read more Trade Update
Bought 15% SNPS @ $150.00 Stop @ $144.89 Target @ $169.00 SNPS had a nice long uptrend move into a period of consolidation since September. It then broke out of that consolidation nicely. Last week it pulled back to test the breakout, which held. Today we’ve got a nice rally back above the 20-DMA. This ticks a lot of the boxes we like to see. Today’s buy signal comes with rising 20-, 50-, and 200-DMAs, … read more Trade Alert
Markets being battered today as concerns continue to build over an economic slowdown due to the coronavirus. We’re going to move the SQ stop up to $73.90 to ensure a nice profit in that one in case today’s selloff accelerates further. Our LOW stop hit this morning. COST is down a bit but still has significant support levels just underneath. And our DB trade is doing well despite the market weakness.