Markets were down today as the Indices became over-bought on the Short Term near the January Highs. The Selling was mild and the Volume was low, so normal profit taking.
Today the S&P 500 Index is currently back below the January Highs of 3338. It would be stronger if the S&P 500 could Close above 3338 today and push higher next week for this rally to continue. The Market should be returning back to normal Green Zone – Red Zone trading.
NEW SUBSCRIBERS: Most Leaders & Indices are back up in the Red Zones (probably too late to Buy for the Short Term). Short Term Traders should WAIT for the Leaders to return to their Green Zones for more Money Wave Buy Signals. The best trades are when the S&P 500 Index is ALSO on the Green Zone, but that still has not happened since October..
Bonds were up again today.
Crude Oil was down 0.57 today at $50.38 and is very over-sold.
______________________________________________________________________________________________________
The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY 2/7/2020 NONE TODAY
THERE WILL BE NO LONG TERM BUYS THIS WEEK.
Money Wave Buys Signals Soon (Short Term): (Best to Buy these when the S&P 500 is also in the Green Zone.)
“JUMP START” Candidates: (Buy Signal should be very soon… Click on the Jump Start link for more info.)
ITCI INTER-CELLULAR THERA. Buy if it Closes Above the Pink Line of $22.63 on High Volume.
XBIT XBIOTECH INC. (Click for info) Buy if it Closes Above the Pink Line of $22.29 on High Volume.
____________________________________________________________________________________________________________
STNE STONECO LTD. (Click for info).
TSG THE STARS GROUP Buy if it Closes Above the Pink Line of $24.03 on High Volume.
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 Way Above the Green Lines (all Investments eventually return to their Green Lines).
______________________________________________________________________________________
SELLS TODAY
EURN EURONAV NV LOWER the Sell Stop Loss by 10 cents to $9.40. It looks like it might have a Hammer pattern on candlesticks. Target is $11 – $11.50.
GGB GERDAU USA EXIT if it is going to Close below the Pink Line around 8.84. This trade was not logged.
VIPS VIPSHOP HOLDINGS EXIT if it is going to Close below your Buy Price, or $13.47. This trade was not logged.
Check PORTFOLIO (Open Positions) and adjust your Sell Stops.
Click for CLOSED POSITIONS,
NEW! TOP 100 LIST Updated Jan 28, 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.
HAVE A NICE WEEKEND!
Hi,
About BMY(Feb 5th email), it was a good idea to hold on EPS day.
What made you to think they would get a good earnings?
Thanks in advance
Thanks.
They usually re-test the recent Highs, and rarely does a big stock like BMY get a 94 Relative Strength.
Thank you for the respond.
I learn a lot from you every day.
Welcome!