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Below are just a few trade ideas.
We try to find low risk set ups and entries. To ensure that the risk remains low, we use reasonable stops and honor them if the trade goes against us. Being wrong is OK, it will happen from time to time. Staying wrong can damage your account.
WIX - Just broke back above the 50sma again. Your stop would be under the 50sma.
GPRO - re-gained the 50sma, but gapped open. You may want to wait for a break out above the blue dotted line
Continue on...
Read MoreHey, it did happen a few yrs ago, but now that I have your attention 🙂 I need to review something in the GOLD - SILVER - MINERS section of this report. First a quick review of the markets.
As expected , Follow through in the DJIA, SPX, NASDAQ, etc
Read MoreWhen the markets are volatile and choppy, it can be difficult to buy and hold a position for anything more than a day or two. We have had some very choppy markets lately. The good news is that the current set up that I am seeing in the markets currently may provide an opportunity to 'SHOP' with a little less "CHOP".
SPX - The blue lines point to the type of run I think we will see. We may have a pause or two, but I expect higher prices.
Read MoreThis report covers a lot, especially when we get to the precious metals - Gold, Silver, & Miners part, so lets just get right into it.
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SPX - It has been a very volatile market, but let me discuss why I am getting signs of a meaningful trade-able low here (or very soon).
Read MoreAre you seeing flashing RED and GREEN lights in your sleep? You are not alone. The markets have been volatile and even short term traders may be finding that if you dont lock in immediate gains or at least take partial profits, then next day the trade can flip against you. lets look at some charts and see where we are currently...
As I write this report, this is where the futures are. A lot of GREEN so far ( Gold is actually up $4 from the close of 1157.40, I dont know why they show up here as down at 1162.00)
I sent out a cautionary update in the afternoon yesterday, lets discuss that first ...
Read MoreJust a quick note
Read MoreWhen most people first start trading, they see a market that is running up,up ,up - or falling down, down, down and they want to jump in and get some of that action. What happens? As soon as they make their move the market does a 180 and heads in the opposite direction due to extremes. We may be at the point that extremes are about to cause some decent bounces. Lets look at some charts.
SPX July 1 - the original thinking was that this could be a bear flag and become an a-b-c down.
SPX - with a lighter volume drop to the 200sma so far , and for other reasons mentioned further in this report, I am thinking we get a bounce here soon.
There is a chance that that Bounce is bigger than expected if we get a short covering rally. Let me explain.
Read MoreI gathered all of my charts Sunday morning and most of them looked like they were indicating lower prices. Monday morning , after the Greek Vote, the color of the day certainly does looks to be RED so far. Lets take a look at the charts .
Here is a quick glance of the futures as I write
This was my chart for the SPX posted here for July 1- it looked like it might have been a bear flag forming.
Read More Once you have all of the pieces of a puzzle in place, the picture gets quite clear. Unfortunately, I dont think we are quite there yet and today may not help all that much. Today is the last day before of trading before a 3 day holiday weekend in the United States, and I expect most of the Big Boys will be leaving early. I think we may see some action in the morning, but by 1 p.m. Eastern time, the day may just drift. With that in mind, lets just see where we are at currently and I'll discuss things in greater detail in the weekend report.
SPX - Is that going to become a 'buy the dips' recovery or just a bounce? It may even get to the 50sma, we'll have to see.
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