Moving stop on LPI to $3.17 Oil sold off Friday morning, but seems to have bottomed for now. We’re going to move the LPI stop up just enough to make sure we lock in some small gain on it if it does fall. The position is currently up 3%.
Bought 20% SPXL @ $47.10 Stop @ $44.90 Target @ $53.98 The Fed came out and held rates steady, but more importantly to markets Powell came out very weak-kneed, announcing there would not be any rate hikes in 2019, and also rolling Treasuries instead of letting them expire. This is a complete 180 degree turn from everything he announced just a few months ago. With the S&P now solidly above support, we’ll get long the … read more Trade Alert
Sold SPXL @ $46.40. The Fed Reserve meets today. We’re concerned if they sound dovish in their comments the market could sink. Closing this early for near break-even. We can look to reestablish the position after the announcement at 2EST. note: ACB stop hit this morning. Net trade gain of 13.9%
ACB continues to move higher. We’re going to change a couple of things this morning. First, we’re going to sell 1/3 of our position after the market opens. Pre-market trading right now is around $10.22, which is just under our initial target for the trade. Second, we’ll move the target price for the remainder to $12.30, which is near the all-time-high. Third, we’ll move our stop up to $9.63, which is just below yesterday’s low.
Two trades on this alert. Bought 10% JDST @ $37.78 Stop @ $35.07 Target @ $44.98 Bought 10% DSLV @ $28.58 Stop @ $27.89 Target @ $31.95
Bought 20% SPXL @ $46.57 Stop @ $43.98 Target @ $53.95 The S&P opened above resistance this morning.