Markets were slightly higher again today as the S&P 500 Index is finally back up to the Feb High on low Volume. Now is the time for all of the Leaders to make Higher Highs. So far there has not been very many New Highs, as much of the Index move is in about 15 Huge Stocks.
Normally the S&P 500 Index will have profit taking up here around the Feb Highs and it needs to stay above the Pink Line (10-day avg.) of 3362, to remain Bullish.
Please WAIT for more Leaders to pop up out of the Green Zones for Money Wave Buy Signals. The better trades happen when the S&P 500 Index is also in the Green Zone. (Now the S&P 500 is back up in the Red Zone).
Please remember that the Markets are up 51% from the March Lows, and are over-bought from “Good News” Buyers.
Bonds were up today.
Crude Oil was down $0.22 today at $42.67.
BUYS TODAY 8/18/2020
KODK EASTMAN KODAK CO. Bought above $11.35 and Stopped Out 5% below today’s High (Filled at $12.32) for 8% Gain.
WKHS WORKHORSE GROUP INC. Bought above $15.98 and Stopped Out 5% below today’s High for a 4 % Gain.
VXRT VAXART INC. Money Wave Buy today. VXRT will not be logged as the Volume is below average of 31.9 MIL.
We will “Not Log” trades if the Reward/Risk is not at least 2:1.
“JUMP START” Candidates: (Buy Signal should be very soon… Click on the Jump Start link for more info.)
MRNA MODERNA INC. Buy if it Closes above the Pink Line of $70.84.
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Money Wave Buys Signals Soon (3 Days-3 Weeks Short Term): (Best to Buy these when the S&P 500 is also in the Green Zone.)
The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.
ABUS ARBUTUS BIOPHARMA Buy above $3.97 with 5% Trailing Sell Stop Loss.
IBIO IBIO INC. Buy if it Closes above the Pink Line of $3.16.
Please be patient and wait for Money Wave Buy Signals. We will email you when they are ready. Follow on the WATCH LIST.
Emotions are very high now, so please do not Buy unless you are VERY NIMBLE.
The Leaders are Way Above the Green Lines (all Investments eventually return to their Green Lines).
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SELLS TODAY
OPK OPKO HEALTH INC. Stopped Out 5% below today’s High at $5.00 for a -2.34 % Loss.
VBIV VBI VACCINES INC. Stopped Out 5% below today’s High at $4.30 for a 11.7 % Gain.
GDX GOLD MINERS FUND EXIT if it is going to Close below $42.76. (3 % off the recent High). This trade was not logged.
ZM ZOOM VIDEO Target of $270.00 was Hit for 9.2 % Gain. This trade was not logged.
Click for CURRENT POSITIONS and adjust your Sell Stops.
Click for CLOSED POSITIONS,
NEW PENNY STOCK WATCH LIST
ARE YOUR INVESTMENTS ABOVE THE GREEN LINE?
ETF SECTOR ROTATION SYSTEM
NEW TOP 100 LIST Updated Aug 4, 2020
Many like to Buy the day before, near the Close, if the Money Wave is going to create a Buy Signal (Closing > 20 and out of the Green Zone).
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.
What is the advantage of placing a Buy Above the current price. With the high level of volatility the trade gets
triggered and gets bought at the higher price then comes back down from that price often times for a loss.
Why not simply wait foe End Of Day to place the Buy Order to avoid getting whipsawed around.
Thanks for writing,
We keep missing lots of the big pops, as many Close up too High by the end of the day.
We had 5 Buy Stop trades in the last 2 day, and by using a Trailing Sell Stop Loss, 4 were Gains. Don’t know what else to do in this type of Market.
What do you suggest?
GDX Chart
Your system is probably the best way to play it since we don’t have a crystal ball telling us what
the market is going to do next.
My question is related to the rules. When the stock money wave closes 20. MNRA money wave is at 32.85. Why don’t we buy at the close instead of wait until it goes Above the Pink Line.
The Rules says buy above 20. Little confused by that. Why are we waiting?
If the Money Wave is going to Close > 20, the Volume on the Investment should pick up big from Short Covering and Swing Buying.
On MRNA, there was poor Volume, so we could have Not Logged the trade, or WAIT for Good Volume with a Buy Stop above Resistance or above the Pink Line.
Just another way to not have to waste a trade like MRNA, just because it might be a little early…
Got It!
Makes Sense.
Thank You
Also,
How are you defining and determining “Good Volume”?
This seems to be another factor to consider whether or not to enter the trade
even if the Money Wave Close > 20.
Thanks
Volume should e higher than the 50-day average of Volume (Purple Line on each Chart)
MRNA Chart
I love all of the added portfolios!!
It is nice to have options of different strategies.
Thanks for the added information.
Thank you Duane!
It is always nice to hear.
DOCU Chart