The Markets are up again today, and Buyers are afraid they will miss the UP train! The S&P 500 has rallied above the 2301 High of Jan. 26th to 2319. That makes 2301 Support for next week… Watch out if the Support does not hold (not many good New Highs in stocks).
The Reward / Risk ratio of investing now is poor, so please do not Buy unless you are VERY NIMBLE, as the Leaders are still Way Above the Green Lines.
We are waiting for the S&P 500 to correct back down near the Red Line (50-day avg.) to set up for a good bounce.
Money Wave Buys soon!
The Following Investments will probably have a Money Wave Buy Signal
(Slow Stochastic Closing > 20) on today’s Close.
FCX FREEPORT-MCMORAN Money Wave Buy today. We will not log, as it is Way Above the Green Line.
MFC MANULIFE FINANCIAL Money Wave Buy today. We will not log, as it is Way Above the Green Line.
NBR NABORS INDUSTRIES Money Wave Buy today.
TECK TECK RESOURCES Money Wave Buy today. We will not log, as it is already up 5.88% today.
ON DECK to Buy soon: STM STMICROELECTRONICS We will email when they are ready.
SELLS
EXIT VALE VALE SA today on the Close, or put in a tight Sell Stop Loss (Up 5% today).
Please monitor the OPEN POSITIONS Page and update your Sell Stop Losses. Several are back up in the Red Zones.
Click for WATCH LIST
Click for OPEN POSITIONS
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.
About 1/3 of the time, the Money Wave Buys will result small losses, so please use a Sell Stop Loss after all Buy orders.
Hello ,
i am new on the site and may be i have missed something about the trading system applied.
Actually, i will appreciate to understand the open positions of the money wave buy of 10 of february,
Bottom line : why ,FCx and MFC are way above the Green line and NBr is not ?
I do not see the difference.
Thank You
Carlo
Welcome Carlo, and thank you for writing!
Alls 3 stocks are Way Above the Green Line, and with the Markets already on record Highs, we are reluctant to Buy much.
The Energy stocks have pulled back as a group… Usually we “Buy on the Dips” for a trade back up to Re-test the recent Highs.
NBR is the only trade that we want to log for our Closed Position track record (we need to make up a recent loss on NBR that we took last week).
NBR should re-test the recent Highs again, once it officially bottoms, since the Relative Strength is still 95.
Good trading, and tell your friends!
Thank you for your reply.
Have a nice day
Carlo