Bought 10% KGC @ $3.18 Stop @ $2.98 Target $3.79 KGC is making a nice move through the 200 and 20-DMAs. This was a strong performer during the last Gold ICL.
Bought 10% DKS @ $36.25 Stop @ $35.09 Target @ $40.49 DKS tends to have strong moves out of its fairly regular cycle lows. It appears to have put in a low a few days ago, and today is breaking up through the 200-DMA.
Bought 10% T @ $31.25 Stop $29.98 Target @ $34.14 AT&T stock has put in a nice bottoming formation here and is breaking through all the major moving averages today. A small rally from here should trigger a golden cross formation as well. The moving averages should act as support on a market pullback.
Moving stop on KL up to $34.07 AND stop on GDX up to $20.49. Nice move higher in Gold yesterday. Expecting a few more days ahead.
Stop on KL moved up to $32.55. EBAY and MJ were both stopped out this morning. The market turmoil caused by the trade war we’ve created with China continues to take its toll on stocks. The Dow is sitting at the same level it was in January of 2018, shortly before the trade war began.
Bought 20% GDX @ $20.58 Stop @ $19.98 Target @ $22.39 Gold broke through the recent downtrend. We’re going to add to our gold exposure here (already have 10% KL) in anticipation of more market uncertainty leading to gold rallying further. The Dollar is just about due for a cycle low, which is the only major headwind for this trade currently.
Bought 10% SPXL @ $48.27 Stop @ $46.69 Target @ $55.40 The S&P is due for a cycle low, and today’s action suggests it may be in. The S&P recovered the 50-DMA here so we’re going to take a starter position with a stop below today’s low using SPXL.
Moving stop on UCO up to $22.25 and KL up to $32.29. Oil has been moving up and off the 50 and 200-DMA nicely. If it were to drop back through the 50-DMA at this point the chart would become bearish again, so we’ve moved the stop up to that level. KL has popped hard off of support the last couple of days. Just one more hurdle to get over with the short-term downtrend and … read more Trade Update
Bought 10% UCO @ $22.25 Stop $21.78 Target $25.90 Oil had a sharp stop run move yesterday morning, followed by a strong rally. Oil was due for a cycle low which we expected to come at $60.00, so this move coincided nicely with that. This morning oil dipped again, but found support right at the 200-day and 50-day moving averages. It immediately bounced there. It’s still possible that there will be a lower cycle low … read more Trade Alert