Trade Alert
We purchased 10% trade size of XRT at $39.82, going against the prevailing sentiment towards retail right now. However, XRT tends to have double-bottoms before reversing direction (see arrows on the chart). We’ll cover the trade in more detail in this weekend’s newsletter. Bought 10% of XRT @ $39.82 Target @ 42.80 Stop @ $38.49
Trade Update
Sold 1/2 of our shares of X at $23.75. Trump just announced a threat that he is considering using quotas and tariffs to stop steel dumping. Trump has a knack for saying these things to try and force the hand of the other side. If he does follow through, X will continue up considerably. But … read more Trade Update
Trade Update
Well, we’ve given the SQQQ trade about as much room as we are willing to do. Fed Chair Janet Yellen is speaking before Congress this morning and her comments have sent the market gapping higher. Timing a market top is notoriously difficult, but when we keep our losses small it keeps us mentally prepared to … read more Trade Update
Trade Update
The NAS100 has performed how we hoped it would today, with a quick test higher, followed by a drop back below the 20-Day Moving Average. We will continue to hold SQQQ here with a stop at $30.90 which will put the NAS100 at a definitive break of the 50-Day Moving Average. All other positions, X, … read more Trade Update
Trade Alert
We have been watching for an opportunity to trade oil. After a nice bounce, oil has pulled back, while at the same time, XLE- which is an ETF of oil companies, has produced a double bottom. If the bottom holds, we could see a bounce here, that would likely stall for a bit at the … read more Trade Alert
Trade Alert
GDX bounced nicely off of the support we drew in last weekend’s Newsletter. As you can see from the little arrows drawn on the chart, it is very normal for there to be a pullback right after a new cycle starts. While it is definitely possible that the decline isn’t finished yet, the reward to … read more Trade Alert
Trade Update
The NAS100 is trading right at the 20-Day moving average. We’re tempted to close SQQQ out for a small loss here, but since it is right at the end of the day, and there is another resistance level just a little higher at the 50-Day moving average, we are going to leave it overnight. We’ll … read more Trade Update
Trade Alert
We bought X stock at $21.08. 10% size. Stop is placed just below the trendline (upward trending gold line at bottom of chart), which is currently at $20.67 (stop placed at $20.50 today), but will increase slightly each day. Initial target is at $24.37. The stock dropped hard, making a low in May before beginning … read more Trade Alert
Trade Update
Back on June 28th we entered a trade in SQQQ. It’s bounced around a little bit, but overall has continued just as we had hoped it would. So, as of today we are still long a 10% trade size of SQQQ from $31.90. Current price is $33.20. We are moving the stop price up to … read more Trade Update
Trade Update
Well, yesterday the market gave us a classic shake-out move. Fortunately, it didn’t reach our stop, and the Nasdaq has moved down sharply today, back below the 50-Day Moving Average. Our original thesis for the trade is still in place. We have moved our stop to SQQQ @ $29.98 which should place us above the … read more Trade Update