Trade Update
SCO stop moved up to $15.56. Oil is falling hard today, which is also weighing on the overall stock market. SCO jumped 8% today, so we’ll move our stop up to guarantee we lock in a profit. In cases like this we generally set the stop just below the low price of the day, and then will continue to move it up in the coming days should the rally continue.
Trade Alert
Sold GE position @ $10.24. Markets reversing pretty hard today. We’ll reduce our long exposure a bit.
Trade Alert
Sold TMF @ $20.38, break-even. Federal Reserve announcement this afternoon making things very unclear at the moment. Will take a look tonight after markets settle and digest the news more.
Trade Alert
Bought 10% SCO @ $15.15 Stop @ $14.59 Target @ $17.88 Oil has had a long steady run higher, but earlier this month began to slow down, and recently rolled over into a bearish 9/20. Today’s oil inventory report number was quite bearish. Along with pressure from Trump on OPEC, we expect oil could drop back to the $60 level. SCO is a bearish oil etf.
Trade Alert
Bought 10% GE @ $10.20 Stop @ $9.70 Target $12.90 GE reported solid earnings and outlook this morning. The chart had already given us a bullish 2B bottom, and today triggered a nice 9/20 cross as well. The 200-DMA should provide support on a pullback, and it also has the 50-DMA there as well. The reward-to-risk is very favorable to this on a medium-term outlook if this level can hold.
Trade Alert
Bought 10% EBAY @ $38.24 Stop @ $36.49 Target @ $43.85 EBAY triggering a bunch of indicators. Recently hit a bullish 2B low, and has given us a nice 9/20 cross as well. Stop is below considerable moving average support as well.
Trade Alert
Bought 5% JNUG @ $7.45 Stop @ $6.98 Target @ $8.95 Big pullback in the miners today despite cycle timing weakness in the dollar. We think this may be overdone at this point. Will just take a small position for now.
Trade Alert
Bought 5% MJ @ $35.68 Stop @ $32.84 Target @ 43.90 Cannabis sector has a few major names that are perking up again. MJ is an etf that covers all the big players in this sector. These moves through the 20-DMA have resulted in nice rallies this year. Along with our ACB 5%, this trade will increase our sector exposure to 10% overall.
Trade Alert
Bought 10% KL @ $32.14 Stop @ $30.49 Target @ $36.45 Gold mining stocks made a strong turn today. KL is giving us a nice bullish 9/20 cross signal.
Trade Alert
Bought 20% TMF @ $20.38 Stop @ $19.79 Target @ $21.49 GDP numbers came out this morning. Appears that inflation fears are back on the table. TLT began a nice move yesterday, and confirmed it this morning. TMF is the leveraged etf.
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