07/30/2017: Markets were mixed this week, as the Indices are back up at Resistance after the 2 week Earnings Rally. Investors have been Buying on better than expected Earnings, but most of the news is out.
Most Indices are making new Highs, but not many individual stocks are. Most Leaders are in the Red Zones, and few are in the Green Zones, so WAIT. Short Term Traders should be raising Cash.
Only 2 of the 5 FAANG Stocks were able to hold up near their Highs (FaceBook & NetFlix). Amazon, Apple & Google sold off.
Crude Oil was up 8.6% this week, and the US Dollar made New Lows.
MONEY WAVE BUYS SOON: We are currently in 0 logged Open Positions, and there are 3 Investments on the Short Term Watch List.
LONG TERM TRADES – 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.
DDD 3D SYSTEMS CORP. Waiting Bounce off Green Line.
IPI INTREPID POTASH Waiting for Weekly Close Above $3.04.
JJC COPPER FUND Waiting for > 90 Relative Strength.
KOL COAL FUND Waiting for > 90 Relative Strength.
LL LUMBER LIQUIDATORS Buy Above $26.22 on Close.
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.
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QUESTION: Esteban writes “Hello folks. Any new watchlist today?”
ANSWER: You will begin receiving Market emails around 3:30 – 3:45pm EDT each day.
Please follow the Watch List on the emails during the day for Updates… Also Portfolio. for the Open Positions.
Good trading, and tell your friends!
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