Friday October 3rd

This has been another great week of trading/investing, and all of the bullish sectors have been running strong. With that, my reports have had many good set ups that have broken out and started to run higher, so this report will just be a ‘Friday short report’. This will be more of a review. All of our trades are still in play and currently playing out well, like SMCI, BBAI, FCEL, BLDP, ENVX, RR, ACHR, RKLB, QUBT, RGTI, SMR, OKLO, etc etc , plus Gold and Silver Miners and Crypto Miners.

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SPX – Each day the General Markets end up gapping down or trading in the red, but then they have been  closing higher. We have been viewing the 3 day sell off to the 20 ema as a mild dcl and if it is this was day 5. Many stocks set up bullishly on that dip and are now breaking out.

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Below arejust a couple of trade ideas that are playing out.

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ACHR was in yesterdays report and it is starting to run(yet is still a buy). It is in the same sector as RKLB and JOBY.

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So we have been trading or buy and hold in RKLB anywhere along that red 50sma. It has been a bumpy ride, but as you see it is looking ready to break to new highs, so this is a ‘buy’ or a ‘hold’.

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JOBY is also a buy again, and it surged 10% yesterday, so the Aviation sector still looks good.

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QUANTS:

IONQ reversed at support and is finding follow through. These pulled back quite a bit, but they do make up for lost time very quickly.

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QBTS also reversed above support this week and was starting to break to new all-time highs so I pointed t out in the comments when it was up 13.5%.

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RGTI was also breaking out by 10:30 in the morning, so I posted this in our commenting area to, after the first hr of trading. These can run quite strong. The last time it broke out at the 50sma it was in the $16 area and ran to $34. Wow!

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RR is a Robotics stock, and it has been running very well for us, so I also added SERV as it reverses at the 50sma. It closed up 7%, but it is still not overbought and can run further (much further really)..

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SES is a bull flag in the AI sector and reversed at the 50 sma. The last run ran from $1 to $2.20 (over 100%) so this might break out and run swifty soon.

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So our recent trade ideas are doing very well and that can continue if these markets continue higher.

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WTIC – Can you believe this? I just went through Oil Stocks and showed their bullishness (WTI, APA, PUMP, VET, XOP), and here Oil breaks down completely and takes out the lows.  This is not bullish, but Oil stocks were hardly phased, so it is a little hard to understand those Bullish set ups in Oil stocks.  I am not in Oil Stocks, mainly because we have had So Many other good trades that I entered. Let’s look at the XOP…

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XOP – With Oil breaking down below the 4 month lows, Oil stocks look ok.  I guess at this point I would have to say , “Trade at your own risk’, and use stops.

 

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The USD will put in decent bounces, but it has then peaked as Left Translated and continued lower, so we are either putting in a rounding bottom now, or we will have more of the same.  So far, The USD is dancing around the 50sma, but it looks like it should be able to get above it for a while, like it did in July-August. That MIGHT dip Gold lower, but so far the USD strength has not affected Gold and Silver.

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GOLD has been on a bullish run since breaking out from that triangle. It has a tendency to dip down to the 13 sma, and anything deeper than that would likely be a dcl. A break from a long triangle in the past has proven to be an ICL that forms over ‘time’, instead of depth. That dip to the 13 sma MIGHT be a mild dcl, it has become very hard to identify dcls in these bull markets because they are mild and no longer turn the 10sma lower like they used to. That being said, Gold does have ‘time’ to continue a run to the $4000 area, but those look like topping candles in the short term.

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SILVERs incline is getting steeper, but it also may be flashing ‘topping’ candles. A mild dip may only tag that 13 sma here too.

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GDX – I know that this looks really bullish, kind of like, “Wow, the GDX sold off and had the strength and buyers to make it right back up to the high!“. Right?  Well actually, that is a topping candle in most cases, so let’s discuss that…

 

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THAT LONG SKINNY CANDLE IS CALLED A ‘HANGING MAN CANDLE‘ with follow through, and traders will actually go short here with a very tight stop.  See my drawing. Price typically will not run higher from here until it re-sets sentiment with a dip.

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Now I look at a Miner like IAG and I see that it also has a ‘hanging man candle’.  It won’t take long to see if this plays out. It is a very bullish looking recovery from the selling yesterday, but it should be down on Friday.

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So this week has been a strong bull run with the various markets’ sectors and hopefully it can close out strong too. We do have data to be released today, but lately bearish data numbers seem to indicate that another rate cut is coming in 2025. Bitcoin surged yesterday and some Crypto stocks exploded, while others did good, but less than expected with the move in Bitcoin, so we’ll discuss that below. Enjoy your Friday trading!

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~ALEX

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BITCOIN has been pushing strongly higher this week, and it broke from a triangle pattern. It now has higher lows and higher highs (possibly starting an uptrend) and on day 32 of possibly 60, it definitely has a low of time to rally higher.

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HIVE reversed at the 20 ema and has been running rather well this week.

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CAN was in the reports lately as a lagger sitting on the 50sma and with a nice long base. It was not reacting to Bitcoins run, and then…

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CAN exploded this week and yesterday alone it closed up 27%.

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HUT – These Crypto stocks are usually up about 15% on a day when bitcoin surges, but a 5% gain Wednesday and then another 7% gain on Thursday is still a GREAT trade. This can break out and run swiftly with Bitcoin too, so we’ll take what we can get.

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HAVE YOU SEEN BKKT?? – Amazing!

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BMNR is a crypto stock that I don’t mention often, because it can be risky, but it literally ran from about $4 to $161 In 4 days! Now it has had time to come back to Earth, consolidate, and start to bounce higher, so this is the weekly chart. It is a bullish set up and even the volumes are bullish, so a small position could make big gains. I do own it.