Amazon.Com (AMZN) daily ​​​​​​​ Price closed the week out below intermediate support, the horizontal blue line. This is the first weekly close under this price level since May. Our recommendation from August 15 is down about 4%. Sell it and limit losses. Global X Lithium ETF (LIT) daily Price is up about 7.5% from our recommendation on July 26. Our next price target is 34.82. Price action is looking good. Continue ho hold. Albermarle Corp (ALB) daily Price is down about 2.5 … [Read more...]

If you own stocks in the oil patch I recommend selling them. There is no end in sight for the deterioration of price. Exxon Mobil Corp (XOM) monthly XOM is just one example. I could show you many more where price is just getting crushed. Just look at the chart. You don't need special glasses to see this. Trade Smart, Don … [Read more...]

Pretty quiet day yesterday unless you owned Foot Locker Inc (FL); down almost 28%...yesterday...ouch! A not so subtle reminder to not put too much into one company. I still think SPY has to test 240. The close Friday was 242.71. You can see the support levels I have drawn on the chart. Mr. Market was a bit confused yesterday about Bannon leaving the White House and Carl Ichan distancing himself from Trump. What a mess. SPDR's S&P 500 Trust Series ETF (SPY) daily Let's let price … [Read more...]

I'm not too concerned about today's price action. As I said recently, we are likely to test 240 on SPY. Closing price today was 243.09. Remember, stocks don't only go up. Sometimes they go down. And, many times, they go down fast. We might have have another down day tomorrow. It's the nature of the beast. S&P 500 ETF (SPY) daily ​​​​​​​ Corrections are healthy. Price reversion to a mean is usually an excellent opportunity to add to positions or enter new positions. We will s … [Read more...]