I recently read an article about Jethro (Hillbillies) and he's still kicking and playing lots of golf. I do like Jethro Tull too. I think I'm showing my age. Bublin crude is gettin' its bid on. Is it time to buy some? Let's drill down a little and test what's underneath the surface. SPDRs Select Sector Energy ETF (XLE) monthly Looking at the monthly chart of XLE it's easy to see the trend from 2003 is upwards albeit with two massive 50% corrections along the way. Prima … [Read more...]
[Trade alert] The Rip Goes On
Price action is "risk on" as they say. It's time to get more aggressive. But first, let's get rid of XLP, the only current loser in our open portfolio. SPDRs Select Sector Consumer Staples ETF (XLP) daily Recommended two weeks ago and down about 2.5%. This defensive trade is off due to support violation. Looks like money is flowing out of toilet paper and into toilet paper delivery companies...think AMZN...the one that got away...for now. Sell XLP. Review of all other op … [Read more...]
A very quick note
This is a big week for earnings therefore the market is a bit volatile. No trades this week. Continue to hold all open positions. Trade Smart, Don … [Read more...]
[Trade alert] Good looking setup
SPDRs Select Sector Consumer Staples ETF (XLP) weekly Looking at the weekly chart note the green arrows; all good buy opportunities as price trades down into support, the lower upwards sloping trend line, and then continues higher. This really looks like it has more legs. SPDRs Select Sector Consumer Staples ETF (XLP) daily Looking a bit closer at the daily chart we will set risk with closes below trend line support; approximately 3%-4% risk. Good risk/reward on this one. … [Read more...]
This is Hilarious
I don't always agree with Josh but he nailed it here... Josh talks about how wealth managers shouldn't be allocating single stocks to their clients. It's enlightening, but mostly it's just hilarious. The Single Stock … [Read more...]
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