08/6/2017: Markets were mixed this week, as the S&P 500 & NYSE rose slightly, but the NASDAQ 100 and Small Caps were down. Investors have been Buying on better than expected Earnings, but most of the news is out.
Most Indices are near new Highs, but the Market breadth is narrowing (not many individual stocks are making Highs). Most Leaders are not correcting much yet, so many Money Wave Pops are disappointing… That should change soon. Short Term Traders should be raising Cash.
Crude Oil was mixed for the week, and the US Dollar might be ready for a bounce off New Lows.
MONEY WAVE BUYS SOON: We are currently in 2 logged Open Positions, and there are 6 Investments on the Short Term Watch List.
LONG TERM TRADES – IPI INTREPID POTASH & LL LUMBER LIQUIDATORS both “Gapped Up” more than 25% this week on Earnings, and we are not in them yet! Wait to Buy them when the Daily Charts cycle back down into the Green Zones. We will email you.
The Funds below are currently out of favor, but historically could possibly Double or more from these lower levels. We are looking for a good Entry Point for these, but need the entire Economy to pick up speed:
DBC COMMODITY FUND Waiting for Break Out Above $16.08.
IPI INTREPID POTASH Wait for Green Zone on Daily Chart.
JJC COPPER FUND Waiting for > 90 Relative Strength.
KOL COAL FUND Waiting for > 90 Relative Strength.
LL LUMBER LIQUIDATORS Wait for Green Zone on Daily Chart.
MDR MCDERMOTT INT’L. Waiting for > 90 Relative Strength.
UGA US GASOLINE FUND Waiting on Break Out Above $32.03.
VALE VALE DE RIO Waiting for > 90 Relative Strength.
Click for Portfolio (Open Positions)
Click for Watch List
Click for Closed Positions
Alert! Market Risk is High (Red Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.
[s_static_display]Tell your Friend about us, and HELP ANIMALS.
QUESTION: Donna writes “When Did Not Log shows in your chart list, that means you did not buy. Is that correct?”
ANSWER: “Did Not Log” means that the Odds of a good trade are low (below the 2:1 Reward / Risk odds we want). So we suggest not doing those trades, or being very nimble.
Some members want to see every mechanical Money Wave Buy Signal. Some Signals may have low probability (maybe already popped 5% that day, or are still near the Highs).
Good trading, and tell your friends!
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