Bought 5% LABD @ $27.36 Stop @ $25.20 Target @ $39.95 IBB has consistently run into resistance at the 200-DMA. LABD is an inverse leveraged etf, and can move quite fast so we’re limiting risk on this by trading smaller size. [edit: sorry, original post said 27.31, typo, should have been 27.36 as the text alert and e-mail said]
Bought 20% AAPL @ $154.72 Stop @ $149.80 Target @ $179.90 The AAPL chart has a solid setup, coming off a 2B low, and a 9/20 crossover. It’s now sitting just above support at the 20-DMA. We’re going to buy 20% here ahead of earnings next week to see if this can rally off of this support and give us a cushion ahead of earnings.
Moving stops up again. TMV stop now @ $18.47 ACB stop now @ $6.63 Both trades continue to move along nicely.
Bought 20% size of TZA @ $12.34 Stop @ $11.97 Target @ $14.50 TZA is an inverse etf of the RUT small caps index. We are testing this old resistance level here, with additional resistance coming from the falling 50-DMA. If the market continues to push higher, our stop is close at just 3% risk on the trade. We like the reward-to-risk from here.
Moving the stop on ACB up to $6.25. This sector can move so far so fast, we’re going to tighten up the stop a little, but still leave plenty of wiggle room. We also closed FXI this morning. It opened below our stop, so we closed at $39.75 Check the Portfolio page of the site for all current trade data.
Good morning. We’re moving stops up again today. It’s possible that after this nice run in the markets we could see a pullback over the coming days. To counter that, we’re keeping our stops tight to ensure we book solid wins on our longs, and put ourselves in a position to capitalize on the downside if it occurs. Oil has been on an amazing run the past three weeks, bouncing 25% off the lows, but … read more Trade Update
Bought 10% AMD $19.26 Stop @ $18.60 Target @ $23.69 This is a trade that is very close to the stop, sitting right on significant support. It could potentially stop us out quickly for a small loss, but has strong upside potential if support holds.
Bought 5% ACB @ $5.35 Stop @ $4.53 Target @ $9.95 We’ve been following the “pot stocks” for the past year or so. They have already gone through a couple of boom-to-bust cycles in just the past year. The latest caused by the media hype surrounding Canada’s legalization in October. The market sold off sharply once that media event subsided. We think this sector may now have shaken out the weak hands, and may be … read more Trade Alert
We are going to continue to aggressively move our stops up on our current trades. The market has had a tendency to swing rather quickly lately, and we don’t want to be caught flat-footed if it does make a sharp turn lower. At the same time we want to continue to ride the momentum higher. All 3 stops are being moved up: SLB new stop @ $39.95 FXI new stop @ $39.49 TMV new stop … read more Trade Update