SPDR’s S&P 500 Trust Series ETF (SPY) daily
A quiet week last week in S&P Land. Continue to hold.
PowerShares QQQ Trust Ser 1 ETF (QQQ) daily
Price continues higher. Hold.
SPDR’s Select Sector Technology ETF (XLK) weekly
Same story here. Continue to hold.
iShares MSCI India Index ETF (INDA) weekly
Price is up about 16% from our recommendation in January. If price breaks short term support I will recommend harvesting gains. If not, we will see if price can break resistance. Continue to hold for now.
Medtronic PLC (MDT) daily
Price is up 19% from our recommendation in January. Price has now cleared resistance with Friday’s close above the previous high made in 2016. We are probably going higher. If price trades and closes below the green horizontal line I will recommend profit taking. Continue to hold.
Global X Social Media Index ETF (SOCL) daily
Price is up about 26% from our recommendation in January. After a recent small pull back price is heading higher again. Continue to hold.
Facebook Inc (FB) daily
Price is up 21% from our recommendation in January. Friday’s close was another new all time high. Continue to hold. You’ve got to “Like” this one.
iShares Barclays 20+ Year Treasury Bond Fund ETF (TLT) daily
Price is up over 5% from our recommendation in January. By the way, that’s when EVERYONE said interest rates would rise and bond prices would fall. Haha!
Remember, the stock and bond markets attempt to hurt as many people as possible at the same time.
Price has run into resistance. Continue to hold as we will wait to see if price can close above resistance this coming week.
Schwab International Equity ETF (SCHF) daily
Price is up about 6.5% from our recommendation in March. Price has run into resistance, an important high from 2015. If price can’t clear resistance I will most likely recommend selling and capturing gains soon.
SPDR EURO STOXX 50 ETF (FEZ) weekly
Price is up about 5.5% from our recommendation on March 29. Price failed to tag resistance and has faded back for the past few weeks. Any daily close below $38 is the sell signal to book profits.
While everyone else is getting on the band wagon to party we just might be getting off to look for a better venue.
Continue to hold…for now.
iShares Core MSCI Emerging Markets ETF (IEMG) daily
Price is up about 4% from our March 29 recommendation. It has been trading in a defined channel since the beginning of the year. There is no reason to think this trend won’t continue unless primary support is breached. Continue to hold.
iShares MSCI South Korea Index Fund ETF (EWY) weekly
Price is up about 9% from our March 29 recommendation. Price is banging on resistance, the highs from 2011, and having a hard time getting through that area. We might have to take our profits and run soon. Let’s see what happens over the next couple of trading sessions. Continue to hold…for now.
iShares MSCI China Index Fund ETF (MCHI) daily
Price is up 9% from our recommendation on March 29. There is not any real overhead resistance until about $64. Continue to hold.
Tesla Inc (TSLA) daily
Price continues to rip. I recommended it twice recently…once on April 4 and once on May 8. Price is up about 26% averaging those trades. New highs continue. Continue to hold. Zoom. Like a slot car on steroids.
SPDR’s Select Sector Health Care ETF (XLV) daily
We just recommended this on Wednesday. Continue to hold.
Other Stuff…
I’ve had my eye on this one for awhile. It still needs a bit more marinating above support to pull the trigger though.
Hess Corp (HES) monthly
Current price has been solid support for 12 years. On the other hand, this support level has held and bounced 4 times in the past 12 years. There is a good possibility that this support zone has become weak and if breached it might present a nice short sell opportunity. I’ve got my eye on it.
I have a number of good entries brewing that still need more time. Here is another…
Foot Locker Inc (FL) weekly
Price has gotten slammed into primary support in short order. We need to let this one test support as well before we act. Maybe a 65% off sale. We will see.
iShares Nasdaq Biotechnology Index Fund ETF (IBB) weekly
I almost recommended this a few days ago when I recommended XLV but IBB shot up so fast that I felt there was too much risk. Waiting for a pullback to get a better price.
Check out Gilead Sciences Inc (GILD)
Gilead Sciences Inc (GILD) weekly
After a 46% correction price has bounced off a natural support price zone. Price bounced about 9% in four trading days. This is another opportunity brewing.
There is a fine line between being patient and making a trade. If you make a trade you must understand why you are making the trade. You must also understand why you would exit a trade.
And, you need to know your risk.
Let it ride and press it up until further notice. Ignore the predictor people and focus on price action. It’s so much easier.
Trade Smart,
Don Roth