Last weeks market pullback was really a one day event, however, Thursday's price action certainly got everyone's attention. I purposefully waited until after today's (Monday) close to write this update to see if the pullback had any serious follow through. It didn't, at least not yet. Today's price action was very positive but know that one day does not make a market. Continue to hold all open positions. My recommendation is to hang tight for a few days before adding to open positions … [Read more...]
Running With the Bulls
A little bump in the road recently with worldwide equities. Is it time to take some profits or time to buy more? Let's be selective to start trimming. SPDR's S&P 500 trust Series ETF (SPY) weekly Price has broken down through the upper channel bracket; the higher upwards sloping white line. Not really a big deal but expect price to test 240 for now. The weekly chart provides the longer term historical price action from the bottom in 2009. The daily chart gives us a closer … [Read more...]
Albermarle Corp (ALB)
Price dumped 6.23% today, beat top line but missed sales. Trade is down about 2% from our recommendation. Continue to hold. If price breaks and closes below upwards sloping green line with momentum I will recommend selling. Currently that level is at 108 but rising. Albemarle Corp (ALB) daily I'm not concerned at all about this one day event. Continue to hold. If price comes back into the upwards sloping green line and bounces I might even add to my position. I will … [Read more...]
Fun Facts and New Highs
If you had invested $25,000 in every trade I have recommended over the past 6 years your brokerage account would have an extra $320,627.50. This would represent a 950% return on your subscription to our premium membership. The Dow made another all time high yesterday. Yawn. Check out GW Pharmaceuticals Plc (GWPH) daily Price is beginning to compress inside the wedge formation. This type of price action usually leads to a significant breakout...one way or the other. On my radar … [Read more...]
Fake News
My news feeds have been yapping all week about a potential top in equities. Some say it's now, some say it's in the fall and some say it's next year. What a load of crap. When are these people going to realize that it is flat out impossible to predict a top, a bottom or whatever. The only thing we can do as investors is manage our risk to limit losses or protect gains. One smart guy said this today..."It's like musical chairs. Keep dancing while the music is playing but dance near the … [Read more...]
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