Markets “Gapped Up” today on the first good Buying in a while. Looks like a lot of Short Covering to take profits from betting on a drop. The Selling appears to be almost complete, but maybe once more down. The S&P needs to Close above Green Line of 2726.
The Markets are extremely over-sold, and October is now over.
The Strongest Leaders that Hold Above the their Green Lines are finally popping, but will not go straight up.
Crude Oil is down again at $65.30.
The Following Investments will probably have a Money Wave Buy Signal soon.
(Slow Stochastic Closing > 20) on today’s Close.
ENDP ENDO PHARMA. Money Wave Buy today. Target is $19.00. Place Sell Stop Loss below recent Support of $16.14 on the Close.
ERIC ERICSSON TELEPHONE Money Wave Buy today. Target is $9.50. Place Sell Stop Loss below recent Support of $8.47 on the Close.
There were many Buy Signals that were up 5 – 9 % today, so we will wait to see if they can pull-back in the next day or so (also the Election is coming). They are:
Money Wave Buys Signals Soon:
AMZN AMAZON.COM Wait for Medium Term Buy.
FTNT FORTINET INC. Buy Stop Above $83.96.
I INTELSAT GLOBAL
P PANDORA MEDIA Relative Strength is Below 90.
PYX PYXUS INT’L. INC. Relative Strength is Below 90.
XLY CONSUMER FUND Relative Strength is Below 90.
Please be patient and wait for Money Wave Buy Signals. We will email you when they are ready. Click on Watch List.
Emotions are very high now, so please do not Buy unless you are VERY NIMBLE. The Leaders are still Way Above the Green Lines (all Investments eventually return to their Green Lines).
SELLS TODAY NONE TODAY
Please Check PORTFOLIO (Open Positions) and adjust your Sell Stops.
Click for CLOSED POSITIONS.
Many like to Buy the day before, near the Close, if the Money Wave is going to create a Buy Signal (Closing > 20).
Don’t Buy if the Investment has already popped up too much. Money Wave Buys are usually good for a 3-6 % move in a few days. We will “Not Log” trades if the Reward/Risk is not at least 2:1.