Trade Alert
After 6 up days in a row, The Russell 2000, which is the index we are trading with TNA, came up on its 50- and 20-day moving averages and then pulled back. Our remaining TNA trade came within 22 cents of our $71.50 target. We sold our remaining position at $70.24. We are entering the weekend with our portfolio all in cash. We will review the current markets in the weekend Newsletter.
Trade Update
We’re moving the stop up to $65.99 on the balance of the TNA position. Markets are struggling a bit at these retracement levels this morning. They could still push through to the upside, but if they start to accelerate to the downside we’ll want to be out.
Trade Alert
Sold another 1/3 of our original TNA position at $68.00 The major US indexes have now risen 5 days in a row. The dow is right up against its 20DMA, which could act as resistance, and the Nasdaq is right under its 50DMA which could do the same. We are selling another 1/3 or our original TNA purchase to lock in some profits and assess how the markets respond. We’ve got a 10% portfolio size … read more Trade Alert
Trade Alert
Sold 1/3 of our TNA position at $67.00 and moving stop up to $63.50 on the balance. Also lowering target slightly to $71.50. Trade is going well, but the market is nearing a 50% retracement of the correction. This is often an area of resistance. And with the current volatility in the market we’d like to book a bit of the profit here, as well as lock in some profit on the balance with a … read more Trade Alert
Trade Alert
Sold FAZ @ $12.34 The market is volatile at the moment, obviously. We’d like to capture some follow-through momentum like we did yesterday with this trade, but right now that momentum has shifted. We’ll keep watching for similar opportunities, as we expect there will be.
Trade Alert
With the current volatility in the markets, the financial sector is vulnerable to unexpected risk. We are purchasing 10% FAZ, which is a leveraged inverse fund. It will go up if XLF goes down. Bought 10% size of FAZ @ $11.92 Stop @ $11.25 Target @ $13.99
Trade Alert
We have been watching for signs of a bottom in the gold sector. One of the things we want to see is for the miners to finally stop responding to gold’s drop in price. This morning, we see that. The miners are slowly climbing, and are up on the day (so far) while gold is down. At the same time, we are reaching significant support with GDX, where the risk is low compared to the … read more Trade Alert
Trade Alert
With the markets in free fall, we are not going to risk holding our JNUG position over the weekend. We know this is frustrating for you, but we must manage risk first. Sold JNUG at $14.65 More details and analysis to follow this weekend in the Newsletter.
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