Bought 10% TWTR @ $37.40 Stop @ $36.79 Target @ $42.14 Strong reward-to-risk here with moving average support right underneath. If this gets a bounce here it should continue to fill the gap left behind last year.
Sold to close our IBB position at $102.32. The breakout two days ago just didn’t follow through how we expected, so there is no reason left to hold here.
Bought 15% IBB @ $104.12 Stop @ $99.79 Target @ $113.90 Biotech has been a bit of an underperformer lately, but is giving us a nice 9/20 cross today, and we believe could have some strong upside potential from here.
AMD hit our target price of $33.98 (+11.8%) this morning after a very nice three day run higher. Overall, fundamentals look good for AMD, but with it right at the 52-week high it’s likely to run into some resistance. If you didn’t sell at the target price today, you could continue to trade this by moving the stop up very close, say around $33.69, and see how it closes out today. A close above $34.14 … read more Trade Update
Sold USLV position at $63.92. US dollar ticked to within 2 cents of the 200-DMA this morning, which makes a very good target for the cycle low in that. Meanwhile Gold rallied and is possibly putting in a major 2B high. It’s possible silver may continue, but with these headwinds, and the weekend upon us, we’re expecting a pullback is likely soon.
Adjust Stops and Targets: AMD stop up to $30.40 DIS stop up to $133.59 USLV stop up to $59.68, target down to $65.49 AMD jumped out to a great start this morning so we’ll move that stop right on up to break-even. We’ve been watching this one for a while in OMentoring. Just yesterday morning we mentioned that if it broke $30.00 we would buy it. It then promptly went to $29.99 before dropping in … read more Trade Update
Bought 10% SLB $35.09 Stop @ $34.29 Target @ $40.98 SLB is at a major decade low old, and oil made a big reversal this afternoon. Excellent reward-to-risk here on the stock.
Bought 15% TBT @ $29.90 Stop @ $28.79 Target @ $34.49 Rates are extremely stretched to the downside right now, and putting in long-term 2B bottoms. This could be a case of when the herd is absolutely sure of an outcome, take the other side. Limited risk to a new low, with a lot of upside potential.
Bought 10% AMD @ $30.40 Stop @ $28.98 Target @ $33.98 AMD with a big breakout this morning. Could see significant upside from breaking this major resistance level. The top yellow line on the chart below is the recent high, the line just below that is a trendline going back nearly twenty years. You can also see how well the uptrend has been holding since the beginning of the year.