Trade Alert
TWO TRADES: Bought 20% XLE @ $65.96 Stop @ $64.15 Target @ $70.90 Bought 20% QQQ @ $161.84 Stop @ $156.95 Target@ $171.50
Trade Alert
With the stock market in correction mode, there may be a short term flight to safety in US bonds. TLT- the non leveraged ETF that tracks 20+ year US treasury bonds, just put in a 2B low and is in the process of printing a 9/20 crossover. This is expected to be a short term, counter trend rally to test the underside of the channel break down. TMF is a leveraged version of TLT. Bought … read more Trade Alert
Trade Alert
Sold to close our GDX position at $19.28 With the strength of the US Dollar, gold has held up well, but eventually something has to give, and right now the dollar seems to have the upper hand. We’re going to close this position early here and monitor the dollar for a while.
Trade Alert
Bought 10% TQQQ @ $55.47 Stop @ $52.98 Target $61.90 There remains the chance that this rally will fail, but currently the chart is bullish, with a solid break above the 200-DMA, so we’re going to add a small 10% position at this point, and can add as the rally progresses. (chart of QQQ)
Trade Update
For the sixth day in a row USOIL has put in a new low, despite being overdue for a cycle low. OIH, the oil services sector ETF has managed to stay positive, despite this. However, we don’t want to overstay our welcome on this trade if oil does continue to drop. So we’re moving our stop up on OIH to $20.97, just a bit below today’s current low price. If oil starts moving up here, … read more Trade Update
Trade Alert
Bought 10% OIH @ $21.01 Stop @ $19.98 Target $23.75 Lower than expected Oil inventories caused oil to bounce right at the trendline. Along with the cycle timing we’ve been discussing in oil, and the current rally in stocks, we expect a nice rally from here.
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