Friday 3-17-2017 TRADES

The markets have not changed very much from the Thursday report, and I’ll be discussing the bigger picture in the weekend report, so today after a brief GOLD & MINERS discussion, I want to just discuss a few trades.

Just as a reminder :  GOLD has put in a swing low to start the 3rd daily cycle, and I would expect it to reach the 200sma.  If this is a 3rd daily cycle, it could form as Left Translated and top within 2 weeks of the lows. Trades should be considered short term going forward and we can then watch for more signs of strength or weakness around the 200sma.

Reminder #2–  So at this point, as shown on this chart that I posted back on March 8th, I have been expecting  BOUNCES IN MINERS, but not a long term rally right now out of this low.  Miners can be traded or purchased for the bounce at the lows as mentioned yesterday, but so far it may just be a short term trade for a week or two.  We will have an EXCELLENT place to  buy in the future at the next ICL, and that will be a great place to buy & hold Miners for a while.  I will discuss this more in the weekend report.

URANIUM AGAIN?

After a nice run in the uranium stocks weeks ago, we had to let them rest and consolidate.  It seems that signs of life are perking up in a few, and others with similar set ups could follow along.

I’m going to post 3 Uranium stocks and I want you to notice just how similar these set ups are. If 1 of them breaks out, will the others follow? It is possible, so we’ll start with the one that broke out above the 50sma yesterday.

URG – notice how it consolidated before breaking above the 50sma. I’m hoping for a run to former highs ( And possibly more).

UUUU –  I own this one and added yesterday just in case it follows through with its break above the 50sma

UEC–  Such a similar set up, I’m expecting that UEC should break out above the 50sma

The above Uranium stocks all dropped and formed a trend line higher , are attempting to get above the 50sma, at a MACD cross over point, and reached oversold on the stochastics. They all look the same and URG seems to be the leader, so I will be wacthing URG for signs of strength.  I think that any of these can be bought at the 50sma

VALE , CLF, X, AKS,HBM, TGB, etc – These are valid trade set ups as mentioned in a prior report, but they are not just busting higher and running straight up.  I recieved a question :  “Is there something wrong with them?” Answer : ” Not at this point, but many of the recent trade set ups are just not explosivley moving higher like we have been accustomed to in the past.  This is normal and we have our  stops under the lows and just have to wait for the trade to play out.”   For example :

HBM – I recommended it here yesterday, feeling that the lows would be a good stop and this is comparable to TGB, which looked good.

It tagged the 50sma & dropped, and I was asked, “Should I sell, is something wrong”.   When you take a trade like this, your view is that it cant drop below recent lows and you are going to allow it time to see if it can continue to work its way higher.  These are not necessarily do or die 1 day trades. Give it time.

VALE – It dropped yesterday, but it is the same set up as before.  It doesn’t have to explosively move straight up to be a good trade. I often add on a dip if I see that my original entry was acting correctly.

AKS –  From yesterday – I like the divergence, but MANY set ups are just moving slowly and trading is rather slow at this time.

SHIPPERS

I dont know if you saw this, but  many Shippers went ballistic yesterday.  TOPS was up 109%, GBLS = 56%, SINO = 23% , and then some were just DSX- 7%, ASC – 6%, DCIX- 12%, STNG – 10%, etc .

I’m just going to show one here today, but you can run through that list above and see if you like any of the others. I liked DCIX weekly chart and daily, so here it is.

DCIX – 12% pop yesterday, and it has been doing this a lot , peculating.  To be truthful, I bought it , sold it, bought it , sold it a few times and am just about break even 🙂  BUt this set up looks like it will one day break & RUN, that is why I have been trading it. One of these days, this could just take off if they do not release bad earnings or other bad news.

DCIX WEEKLY –  This is the other reason why I kept trying to trade it hoping to get in on that pop & run if it came along. Upside potential could be good.

 STNG WKLY –  this has potential too.

SINO DAILY –

SINO WEEKLY – Oversold

CANCER GENETICS

CGIX –  Biotechs can go BOOM & BUST very quickly too.  This happens to be the biotech stock that I bought years ago as a ‘BUY & HOLD” due to their cancer research and I liked their story.   I doubled my money quickly on it when it was in the teens running to the $20’s. Then with an FDA trial  rejection, I lost all of my profits when it gapped down massively and I held.  It dropped below $10 ( seen here) and I sold it for a loss.

It has now formed a nice long base and I actually like this steady set up again. This is a weekly chart and it regained the 10 weekly MA.  I do not own this, but it is cheap enough and bullishly set up enough, that I may BUY & HOLD again  🙂  The volume recently has been bullish.

Let me conclude by saying this:  There are times when everything seems to be setting up bullishly and we are trading the daylights out of the market. Many probably remember when sector after sector lined up and we had tooo many trades setting up and not enough money.  THOSE TIMES COME & GO AND WILL RETURN AGAIN. Our cycle timing proves that to be true.

I am holding more than 50% cash still, I am patiently trying to wait for the FAT PITCH, and trading with the limited set ups that we have trying to make a little extra cash.  Some trade set ups are following through, others are just churning sideways and consolidating, not really paying off at this time.  It can be boring, and frustrating, but please know that we will be making great trades and fast money again in the near future, and if you have just been patiently waiting on the sidelines, you will be rewarded for that too.  I will discuss this in the weekend report with the bigger picture.  Enjoy your Friday trading & the weekend!

~ALEX

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It is 8 a.m., and I just wrote this report from 5-8 a.m., no time to check for typos if I want to release this now, so please ignore typos.