I don’t really like the market conditions right now. Since we’re so close to all-time highs, most things seem to be stalling some and I don’t like the lack of momentum. For for this week pick, I’m watching DBX but I don’t like it unless it gets below $24.
I don’t really like what I’m seeing in the market today and I’ll probably hang tight and watch things develop. We are very near all time highs in the major indexes and the market seems to be moving slower. RSI is high overall. There isn’t much momentum in these conditions. My goal for today is to get out of the TEN trade from last week. I did not realize that the market was closed on Friday for good Friday, so …Read the full article
Happy Tax Day! Last week, our pick was RH and it had a great week! Unfortunately, I didn’t get in on that because I didn’t get the price I wanted. I didn’t want to chase it but in not chasing, I lost out on a nice move. This is ok. I would rather watch a stock that I didn’t buy run than watch one that I did buy fall. The Market is getting closer and closer to all time highs …Read the full article
I’ve been bad about updated the posts for the last few weeks. I bought 2300 shares of KPTI last week at $5.89 average and sold them in 2 separate parts for an average of $5.69. I don’t feel like the momentum scan or the market has really been doing me any favors recently, so I’m going to try changing a couple things for this week. As the SPX gingerly approaches an all-time high, RSI is also very high. These two …Read the full article
Happy April Fools Day (and Happy April)! The market has been still fairly stagnant and I plan to be cautious going into this week. I feel like a bit of a broken record on this one as we have been ‘cautious’ for the past 2 months while the market has been slow. The nice thing about this condition is there isn’t much that’s over-extended. RSIs are generally low. However, momentum is hard to find in this market and it seems …Read the full article
I think I like gold stocks going into this week. Specifically, gold mining seems to be coming through support and it is much stronger than the rest of the market right now. There are some very aggressive 3x ETFs out there, NUGT being one of them. I actually like GDX, which is not as highly leveraged and moves a bit slower. I’m planning to mix these. I may trade options on GDX and buy a small position in NUGT. The …Read the full article
Friday was a bloodbath in the market. We finally broke through the resistance band around 2815 on the SPX mid-week last week and then immediately pulled back down just below it. As you can see from the chart below, this area has been a popular support level over the past 6 months or so. Keep an eye on this area this week. If the SPX begins to gain negative momentum here, it could easily fall through support and keep falling. …Read the full article