Trade Alert
Recently the YEN has been trading in predictable cycles, and has just printed a 2B top. Currencies don’t move a lot on a percentage basis, so we are increasing our position size on this trade to 20%. Bought YCS at $70.33 to play a drop in the JPYUSD. Bought 20% size of YCS @ $70.33 Target @ $74.00 Stop @ $69.20
Trade Alert
Emerging markets are getting a little lift with the strong US stock market open. EEV opened right at our stop. We are out at $10.33 for a small profit.
Trade Alert
Bought 5% trade size of DUST @ $26.70. This is an inverse gold etf, meaning we are looking for the price of gold to drop. There is increased risk with this trade, however, due to the North Korea situation. We expect that this rhetoric will moderate over the weekend, but there is certainly a chance that it escalates instead, thus the smaller trade size. Will discuss the trade further in this weekend’s newsletter. Bought 5% … read more Trade Alert
Trade Alert
We sold XRT at $40.40 when the stop got hit. Overall negative news cycle overnight sending the markets lower. Booked a small profit here.
Trade Alert
The weakness in the USD has been affecting markets worldwide. That being said, the USD is due a corrective rally, and when it does, it should put pressure on Emerging Markets. EEV is an inverse fund that will rally if Emerging Markets fade. We will discuss this trade in more depth in this weekends Newsletter. For now, we are taking a 10% position in EEV. We will be monitoring the major currencies, and EEM for … read more Trade Alert
Trade Alert
Oil has been drifting upward overnight, and is now comfortably above the 200DMA. While it is still possible that the daily cycle high was two days ago, and this will be a brief shakeout, the technical picture isn’t clear enough for us to justify leaving our capital at risk, so we are exiting SCO at a small loss. Sold SCO @ $36.88
Trade Alert
Between yesterday’s retracement from its lows, and today’s rise, oil has now risen enough to give us a favorable reward-to-risk ratio. We will use a rise to just above the 200DMA average as our stop. The red area shows our risk, while the green shows our approximate reward, with the bottom of the green being our target. Bought 10% size of SCO @ $37.58 Target @ $42.00 Stop @ $36.88
Trade Update
This weekend we highlighted oil as a potential trade. We showed two places where a reversal into a cycle low was most likely to occur, and said the highest probability of the two was probably a stop run over the 200DMA, where it rises enough to stop out anyone who placed a short trade there, only to then reverse lower. It looks like our highest probability outcome is taking place. We are still watching for … read more Trade Update
Trade Alert
Today is the fifth consecutive up day in a row for oil, and we are right at trendline resistance, and the 200 DMA. While it is possible oil will continue higher before experiencing a correction, it is at a price point where we typically would expect significant resistance. In addition, it is getting late in its daily cycle, so from a timing perspective, it is due for a correction into a daily cycle low. Since … read more Trade Alert
Trade Alert
Oil is approaching it’s 200DMA, and trendline resistance. It has also risen 4 days in a row, which increases the likelihood that a down day is imminent. We are going to sell half of our UCO position here at $16.44, and watch how the remaining half acts as it approaches this resistance zone. We’ll move the stop on the second half to $48.00 in USOIL, which would translate to roughly $15.80 in UCO.
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