Trade Update
Trade update here on UDOW. We’re trucking along nicely with this trade, and it’s time to move the stop up to make sure we lock in some gains in case the market turns down. UDOW stop moved to $85.55 from $75.98 Additionally, based on the feedback we received yesterday we know that many people did indeed end up buying more on yesterday’s open. For those that are in at higher than 15% let us just … read more Trade Update
Trade Alert
Sold SCO at $20.87. We are bearish on oil, but the trade isn’t nearly as compelling now that it climbed back above the support shown on the chart, and the 50DMA. Rather than risk an overnight gap beyond our stop, we are exiting SCO.
Trade Update
Overnight, President Trump tweeted that we are not in a trade war, but unsurprisingly to the rest of us, China doesn’t see it that way. Overnight, China played tit for tat by imposing new tariffs on an additional 106 U.S. goods—including soybeans, automobiles and aircraft. This is on top of the 128 different products they imposed tariffs on over the weekend. This type of environment has businesses on edge, and the markets are reflecting this … read more Trade Update
Trade Alert
Bought 15% size of UDOW @ $80.22 Stop at $75.98 Target @ $92.98 Correction, original alert stated $80.16. Actual price was $80.22.
Trade Alert
Possible trade setting up—issued Monday night to give a heads-up for Tuesday morning. We have been patiently waiting for the DOW to provide a complete ABC correction (see chart), with a stop run below the 200-Day Moving Average, and below its 2/9 low. Late this afternoon, it finally provided us with the setup we were waiting for. Today (Monday 4/2) we needed to see if it would close back above the 2/9 low before considering … read more Trade Alert
Trade Alert
With TLT approaching the declining 50DMA, we are going to book some profit by selling half of our TMF holding. Sold 1/2 at $18.51. Stop on the remaining half will still be 18.26.
Trade Update
TLT has performed perfectly since we initiated the trade in TMF (the leveraged etf of TLT) on Friday. We expect this to continue higher still, but are watching a couple of potential resistance levels. We are going to move the stop up on TMF to $18.26, which is a bit below yesterday’s closing price. This should allow for some normal “wiggle” room in the trade as it moves higher, but will protect some profit in … read more Trade Update
Trade Alert
Bought 20% size of SOXS (inverse of the SOX etf) @11.03 Stop @ $10.63 Target @ $12.79 Markets have been strong for a few days, but are now running up against resistance levels on declining volume. We’re looking for a drop here, but will exit rather quickly if they continue to push higher and get through resistance.
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