While it is normal for there to be a pullback following a strong up day like we experienced yesterday, we are not willing to let our GDX trade turn into a loss. Therefore we are moving our stop up to 19.30. We can reevaluate over the weekend and enter again on Monday if the setup remains intact.
Bought 10% size of GDX @ $19.77 (total is now 30% size) Stop for total position moved to $19.02 Target for this 10% @ $22.40 (the target for the initial 20% remains $20.90) We caught the initial breakout this morning early with our 20% position. We’re adding 10% here.
We’re going to move the WMT stop price up to break-even. The overall stock market is falling sharply the last few days, despite this WMT has continued to climb. If the market continues to drop it will likely drag WMT with it eventually. If the market turns, we should be able to continue the ride higher. Stop moved to $96.68 Target price remains $107.90
Bought 10% size of WMT stock @ 96.68 Stop @ $94.48 Target @ $107.90 This appears to be the breakout we’ve been waiting patiently for.
Bought 10% size of TNA @ $79.25 Stop @ $76.98 Target @ $87.90 chart of RUT, trade in TNA
We are moving the target and stop on our TMV trade to: Entry was $22.69 New Stop @ $22.75 New Target @ $25.77
Bought 10% size of TMV @ $22.69 Stop @ $20.98 Target @ $29.95 (note: chart is of TYX, trade is in TMV)
Bought 20% size of FAS @ $76.60 Target @ $82.75 Stop @ $74.90 The financial sector/banks are breaking out higher, along with a number of other bullish signals in the Moving Averages. chart is of XLF, but trade is in the leveraged etf FAS.
Sold our OIH position at $24.12. Oil has fallen sharply the last couple days, well back below support. OIH has held up well in the face of the drop, but they usually won’t diverge from each other for long.