Trade Alert
Bought 10% GOOG @ $1297.20 Stop @ $1251.90 Target @ $1490.00 Google is attempting another breakout of major all-time-high resistance after 18 months along this level. A completed breakout would see significant upside. As there is certainly a chance this breakout doesn’t stick, the reward-to-risk is strong, so we’ll attempt a smaller 10% size on this one.
Trade Update
PYPL stop was hit. Also, we’re moving protective stops up on GPRO to $4.34, and QCOM to $82.98. Both report earnings this week. If they begin to pull back we’ll book profits quickly.
Trade Alert
Bought 15% UTX @ $145.95 Stop @ $141.70 Target @ $159.90 UTX is making a breakout of a major area of resistance here. These types of breakouts can really run higher as the pent up sell orders at the highs are finally gotten through.
Trade Update
GPRO trade currently up 22%. We’re going to move the stop up to $4.15 on this. We expect the next major target for this trade will be a gap fill at $4.96. However, they report earnings next week, so we’re entering a riskier time period. We’ll protect profits with our stop, but try to maintain enough space to allow it to continue higher.
Trade Alert
Bought 15% ORCL @ $55.06 Stop @ $53.49 Target @ $60.50 ORCL is in a nice sustained uptrend with a lot of support riding underneath it. Good reward-to-risk from this level.
Trade Alert
Sold AAPL position at $247.30 Trade is going well, but we have a double whammy of risk tomorrow with quarterly earnings and a Fed rate announcement. Will look at it again on Thursday.
Trade Alert
Bought 15% QCOM @ $81.92 Stop @ $77.49 Target $89.99 Strong breakout here combines nicely with the big breakout in the entire sector. Nice upside potential, and we’ll be moving the stop up aggressively with the rising 20-DMA.
Trade Update
Markets are headed higher in pre-market trading this morning. We’re going to take the opportunity to move a couple of stops higher as well. AAPL stop moved up to $239.95 GPRO stop moved up to $3.69 JPM stop moved up to $122.98
Newsletter #239—The Hong Kong Connection
1) The dollar is getting late in its IC and is due for an ICL over the next couple of months. 2) Gold began a correction in mid August that will probably end between October and December. 3) The stock market continues to oscillate between support and resistance. It is currently right at resistance. 4) We expect oil to roughly follow the path of the US stock market. It is early in the IC, and … read more Newsletter #239—The Hong Kong Connection
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