Powershares Tech ETF (QQQ) monthly QQQ, the ETF that tracks the Nasdaq 100 has made new all time closing highs today after breaking the high from 2000. More giddy up likely to follow. Continue to hold. Also, continue to hold XLK, the tech sector ETF. S&P 500 Index ETF (SPY) daily SPY, the ETF that tracks the S&P500 index, has been flagging over the past few weeks. See pretty purple flag I drew on the chart. Flagging is usually bullish. More giddy up. Continue to … [Read more...]
Bulls.. 9, Bears… 0
As we enter the 9th year of the current bull market from early 2009 there are no technical reasons that price won't continue higher. Breadth is good with all sectors contributing. Even with a current trailing PE multiple of almost 25 this Bull can go much higher. Pullbacks into SPY primary trend line support should be bought until this rising support level is violated. S&P 500 Index (SPY) daily Giddy up. Reversion to the mean. I am a serial mean reversionator. I know … [Read more...]
A Review of Recent Open Positions
SPDR's Select Sector Energy ETF (XLE) daily Opened 8-8-16. Currently up about 8%. Our first target remains $80. Continue to hold. iShares Dow Jones US Telecommunications Sector Index Fund ETF (IYZ) daily Opened 11-14-16. Currently up about 14%. If price can remain above $35 this could go much higher. Continue to hold. Post Holdings-WI (POST) daily Opened 11-22-16. Currently up about 8%. First target is $81.75. Continue to hold. Continue to hold all open … [Read more...]
The Dodo Bird [trade alert]
It was a pretty quiet week in Tradeland and I suspect the same until after January 1st. BABA trade alert... Sell it. Price has broken multiple support. Minimize loss to about 5%. Alibaba Group (BABA) daily All other open positions are very profitable. We want to give them a chance to run as far as they can. Get rid of the losers early and let the winners do their thing...run, run, run. Hold all other open positions. The Dodo bird... Are actively managed mutual funds destined … [Read more...]
Giddy Up
US stock market indexes are in melt up mode. S&P 500 Index ETF (SPY) daily Dow Jones Industrial Average ETF (DIA) daily Powershares Tech ETF (QQQ) daily Russel 2000 Index ETF (IWM) daily Continue to hold all open positions. Bond prices have gotten hit pretty hard over the past few months. TLT is approaching support so I'm looking for a bounce soon. 20 Year Bond Fund (TLT) weekly If you have any questions...just ask. Trade Smart, Don … [Read more...]
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