Bought 10% LOW @ $103.30 Stop @ $101.49 Target @ $107.59 This is an initial target to fill the gap on the chart. Longer term we’ll be aiming for $117. Very tight stop on this as the stock is breaking out into the gap and above the 50-DMA this morning. If this breakout can’t hold and the stock drops back below the 200-DMA we’ll exit for a small loss.
Bought 10% EBAY at $39.57 Stop $38.39 Target $44.00 We’ve got all the major moving averages rising, a nice trade signal with a 9/20 cross and now a bit of a pullback to test the breakout to new 2019 highs. This trade offers us a solid reward-to-risk ratio, with little resistance between here and ~$44.00 if the 20-day can hold up.
Bought 10% USLV $66.03 Stop @ $60.85 Target @ $79.90 Back into this trade after being knocked out at break-even yesterday on Fed Chairman Powell’s speech. Metals absorbed that news and moving up again.
USLV stop moved up to break-even $66.12. Today’s slight weakness isn’t anything to be too concerned about yet, but sometimes weak miners versus the underlying metals can be a signal, so we’ll protect this from turning lower on us.
Stop on GDX moved up to $25.24. The Fed Chairman is giving a speech at 1EST, which could potentially move the market.
Bought 10% USLV @ $66.12 Stop @ $59.89 Target @ $82.90 The US dollar continues to crater. Gold is rallying again today, but silver so far has pulled back a bit. We expect if the dollar weakness remains, that silver will “play catch up” here shortly.
Bought 5% CRON @ $16.35 Stop @ $14.98 Target @ $23.90 Nice setup coming off of the moving averages. Will look to add an additional 5% on a breakout above the $17.86 level.
Moving Stops: AMZN up to $1898.50 EBAY up to $39.98 War drums are pounding, causing some uncertainty here. We’ve got an additional 30% market exposure via our 10% TNA (3x etf) trade, so if these begin to pull back we’ll get them off the table. Overall, the charts look good right now.
Bought 20% FXC @ $74.90 Stop @ $73.95 Target @ $77.10 The Canadian Dollar appears to have made a major breakout move reversing an 18-month downtrend, and rallying through the 200-DMA. This won’t be an exciting trade, but it’s a strong setup.
Bought 10% TNA @ $63.13 Stop @ $59.80 Target @ $79.90 The RUT has cleared significant resistance at the 50 and 200-DMAs in the past couple of days. This trade has significant upside potential, with just one more hurdle to clear around 1610. TNA is a 3x leveraged etf of RUT.