Bought 10% UGAZ $33.23 Stop @ $31.29 Target @ $39.90 We mentioned in the Newsletter that we were watching NATGAS for a pullback to the 20-day. We got that today, and it held throughout the morning. Now moving back up a bit, so we’re buying in.
Bought 10% JNUG @ $10.04 Stop @ $9.69 Target @ $12.90 After breaking out of its downtrend, GDXJ dropped back to test the breakout line, and is now above its rising 50-DMA. JNUG is the 3x etf of GDXJ.
Bought 30% IYT @ $184.97 Stop @ $179.95 Target @ $198.95 The market has made a decisive move to the upside this morning, reversing a lot of last week’s indicators. The Transports were down 11 days in a row and have put in a swing low on the chart today.
Bought 20% size of USLV @ $66.60 Stop @ $64.98 Target @ $73.15 Metals have been falling recently, but quite a few indicators are showing that they may have bottomed here short-term. We’ll keep the stop close just in case it turns lower again.
Bought 20% AAPL stock $177.00 Stop @ $172.20 Target @ $191.00 AAPL is breaking out higher with a rising 20-DMA underneath as support. Initial target at the 200-DMA.
We’re moving the stop on TMV up to break-even at $18.59. Trade has started out well, but the bond markets have had a tendency to chop around lately, and there is no reason to let this go negative if it can’t follow through from this level. Chart of TLT. TMV is the inverse etf. When TLT goes down TMV goes up.
Bought 20% TMV @ $18.59 Stop @ $18.11 Target @ $19.98 We’ve been expecting a C wave down in TLT and this morning it punched through significant moving average support while dropping off of resistance levels. TMV is an inverse ETF of TLT so it will go up as TLT goes down.
CLOSING our USLV trade early at $82.59. The Fed minutes from their last meeting will be released at 2:00 EST today. With our trade being up 6.5% and just ~1% from our target, we’re going to avoid the risk that the Fed reports always give us. Overall, silver still looks good, and we’ll keep our eyes on it for a possible entry again after the effects of the report are out of the way.