Trade Alert
Bought 5% ACB @ $9.03 Stop @ $8.38 Target @ $10.98 Some big acquisitions in the cannabis sector have gotten the stocks moving up again. ACB has been a favorite of ours to trade and it’s got a nice breakout of the short-term downtrend and has pulled above the 20-DMA now. This sector continues to be a volatile one, so we’ll keep the trade size relatively small and try to give the trade plenty of … read more Trade Alert
Trade Alert
Bought 20% SQQQ $9.13 Stop @ $8.84 Target @ $10.49 QQQ has put in a bearish 2B top—a strong signal of a trend reversal. SQQQ is the inverse etf for QQQ (if QQQ goes down SQQQ goes up). A reversal breaking above yesterday’s high in QQQ is the stop. Strong reward-to-risk ratio at this level.
Trade Alert
Sold CENX position @ $9.31 Alcoa, another major aluminum company has been battered this week, and with earnings coming up in a few days for CENX, this trade just appears too risky to hold at this level.
Trade Alert
Closed two trades: Closed TMF @ $20.24 Closed EDC @ $85.21 The Fed minutes were released yesterday afternoon and there was a quick shift in market sentiment following. Yields spiked on the throwaway line that they would still consider raising rates this year if economic conditions were good. At the same time they said they did not anticipate raising rates. It’s confusing Fed speak, but the markets read it the way they did. The chart … read more Trade Alert
Trade Alert
Bought 20% TMF @ $20.65 Stop @ $20.19 Target @ $22.89 TLT presenting us with a nice 9/20 crossover and pullback to the 20-DMA. Now moving back up and above the January high.
Trade Update
Moved OIH stop to $17.79. Yesterday’s breakout failed this morning. It’s possible we see a deeper drop before the oil rally continues.
Trade Alert
Bought 10% TNA @ $65.75 Stop @ $61.49 Target @ $79.90 The RUT small-cap is making a nice bull flag breakout, which would indicate the next leg higher should extend near the all-time-highs. TNA is a 3x etf of the RUT index.
Trade Alert
Bought 5% CENX @ $9.29 Stop @ $8.39 Target @ $12.89 CENX has been consolidating at this level for 6 months. It’s hard to know for sure when this might turn up and run, but the current setup above the Moving Averages looks strong. We’re going to take a small position here, and give it a wide stop to allow that the timing could be off. Stock has a lot of upside potential.
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