Trade Alert
Sold our ILMN position at $318.00. Markets are down hard this morning on negative trade news. The S&P and Dow are issuing sell signals on the daily charts. We’d prefer to just step aside here and wait for a nice bottom to be put in before entering any long stock trades (aside from current long gold miner stock trades).
Trade Alert
Bought 10% AUY @ $3.73 Stop @ $3.56 Target @ $5.49 Gold is beginning to really get rolling. We’ll jump into another gold mining stock this morning. We’re still testing the waters a bit, looking for more confirmation that the gold market has already made its new ICL (intermediate cycle low). If so, these gold mining stocks will have significant upside potential.
Trade Alert
Bought 5% FSM @ $3.31 Stop @ $3.09 Target @ $4.54 We’re still not convinced an ICL has been put in with gold, but a number of gold mining charts are looking good so we’ll begin by taking small positions.
Trade Update
[note: due to internet connection issues we couldn’t load the blog this morning and this alert is going up late here. We did however issue alerts via the app, e-mail, and Facebook Basecamp. Please be sure you’ve got alerts set to receive in more than one location.] Trade Upate: The market is trading mostly flat in pre-market today. We’re going to move the stops up on some trades this morning to continue to protect profits … read more Trade Update
Trade Alert
Bought 15% ILMN @ $319.75 Stop @ $314.15 Target @ $358.90 ILMN has a small breakout going on here. We’ve got rising moving averages, a breakout above recent highs, and a BIG gap to fill to $359.03. We’re keeping the stop very close on this. If the breakout level fails, we’ll take a small loss and watch to see what it does from there. Good reward-to-risk on this trade.
Trade Update
Move all stops higher: SQ stop @ $66.90 MA stop @ $284.90 MSFT stop @ $148.80 ORCL stop @ $56.20 All of these continue to climb nicely. SQ is working on its 9th day in a row closing higher. MSFT is at a new high, and MA is closing in on its all-time-high as well. We’ll continue moving stops higher as we go.
Trade Update
CRON stop moved up to $6.97 CRON stock is up another 10% this morning (now up 20%). We want to stay on top of moving the stop along with it just in case it flips back down.
Trade Update
Moving Stops Up: SQ stop $65.69 CRON stop $6.49 ORCL stop $55.55 There continue to be a number of downside threats to the current stock market rally. We’re going to keep moving stops up relentlessly on every move higher. On Wednesday the House Judiciary Committee approved a bill that legalizes marijuana on the federal level, removing it from Schedule 1 of the Controlled Substances Act. We don’t by any means believe that this means that … read more Trade Update
Trade Update
Moving stops up again. In this market environment we can’t be too careful with protecting profits. We’re always one tweet away from the bull market taking a turn lower, so we move the stops up to lock in gains if that happens. ORCL stop $55.45 MSFT stop $147.95 MA stop $280.79 SQ stop $64.20 CRON stop $6.32 We just put CRON on this morning at $6.24 anticipating that it could still drop quite a bit … read more Trade Update
Trade Update
Bought 5% CRON @ $6.24 Stop @ $3.00 Target @ $14.00 Occasionally we find a company that we think is severely undervalued. Most recently it was GPRO. CRON currently has ~$5.50/share in cash, meaning it’s close to being valued at it’s bank account. Of course with these trades it’s always possible they continue to get beaten down, but we think eventually this sector will turn again. With trades like this we take small positions with … read more Trade Update
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