I'm feeling a little guilty. So, I will confess. I sinned. I broke one of my own rules. I bought a bunch of SPY and XLE last Friday because it just felt like they should go higher. It didn't fit into our strategy. I just looked at the market and said this puppy is going up! Then put my money where my mouth is. It's turned out pretty darn well so far, but neither you, nor I should be in the habit of making trades like that. (Even though it's kind of fun when you do). I feel better now … [Read more...]
2017 Predictions and some other stuff
It's that time of year when the prognosticators foretell the future. I don't really give a rat's arse about what they think; however, it's interesting they are all so similar except for RBC. Maybe they are reading each other's mail. Here's what their targets are for the S&P500 next year: 2,300........ Bank of America 2,325........ Canaccord 2,350........ Deutsche Bank 2,200........ Goldman Sachs 2,325........ Jefferies 2,300........ JPMorgan... (*by early … [Read more...]
New All Time Highs [trade alert]
The S&P500 Index, Dow, Nasdaq and Russell 2000 have just made all time highs. Regardless of your political slant it's pretty obvious the big money is flowing into equities. Giddy up. A quick review of open recommendations. We're up on every one of our open trade recommendations; from 4% all the way to 84% profit. Let's take a deeper look: S&P 500 Index (SPY) daily Our trade recommendation is currently up 84%. Continue to hold. If you wish to add to this pos … [Read more...]
Follow up on AVB and IYZ
Avalon Bay Communities (AVB) monthly Price broke trend line support and is down about 4% from entry. I recommend exiting this trade. There is major support at 149 represented by the horizontal red line. If price bounces there it might provide a better entry. Dow Telecommunications Sector ETF (IYZ) daily Continue to hold. It appears to be behaving well. Trade smart, Don … [Read more...]
Update on XLE
XLE is banging on resistance (orange horizontal line) again. It's the 4th time since late 2015. Will we get a breakout this week? SPDR Energy ETF (XLE) daily They are trying to bid it up and through $72. If price does break through it is likely to run up near $80 which would be the first target to harvest some gains. If you have any questions just send me an email or premium members can set up a call. Trade Smart, Don Roth … [Read more...]
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