Trade Update
Oil and OIH are moving up nicely this morning. We’re going to move the OIH stop price to $17.39. We anticipate that OIH could still run into resistance at the $18.00 level and will want to ensure at least a small profit if it does fall back. If it can push above $18.06 we think we’ll have a good shot at hitting our target.
Trade Alert
Bought 10% EDC @ $86.50 Stop @ $81.90 Target @ $99.90 Emerging Markets are breaking out to new 2019 highs and appear well poised for a significant move to the upside. EDC is a 3x etf of EEM.
Trade Update
DGLD stop moved up to $46.30 Gold moving down nicely this morning (up for DGLD). Currently sitting right at the March low, and we’re expecting that a push through this level will cause it to fall near the trendline in the coming days/weeks.
Trade Alert
Bought 20% OIH @ $17.29 Stop @ $16.79 Target @ $19.95 edited later in the day to add reasoning behind the trade: Oil has been trading in an uptrend channel since the beginning of the year. It broke out this week, and at the same time moved above the 200-DMA. Both are bullish signals for oil, with a long-term downtrend target near $72. Meanwhile, the oil services sector has also been trading in a channel. … read more Trade Alert
Trade Alert
Sold to close our SPXS position @ $20.96 The S&P spent all week bouncing above and below our resistance/support level at 2817. It appears it’s going to close the week out a few points above the line. With that we’re going to take off our SPXS position here and will have another look on Monday.
Trade Alert
Bought 10% DGLD @ $45.55 Stop @ $44.39 Target@ $49.89 We’re expecting gold to drop into a new DCL. It’s dropped hard this week, but getting a pretty normal pullback today up against the 20-DMA. It’s likely the drop will restart here soon. DGLD is a bearish gold etf. DGLD is rather low volume, so please use LIMIT orders for entries and exits.
Trade Alert
Bought 10% SPXS @ $21.80 Stop @ $20.62 Target @ $24.50 Markets are showing continued weakness this morning and the S&P is solidly under resistance levels now.
Trade Alert
Sold to close our AMAT position at $40.40. Markets very weak here this morning so we’re going to lower our exposure a bit.
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