Markets were lower today, on profit taking from Thursday. The Indices need to exceed Monday’s High soon, for the rally to continue.
The Leading Tech & Semiconductor Stocks are strong, but are very over-bought. Emotions are very High now, so be cautious.
Short Term Traders should WAIT for the Leaders to return to their Daily Green Zones. The best trades are when the S&P 500 Index is ALSO on the Green Zone.
Bonds were up again today on war fears.
Crude Oil was up $1.80 today at $62.98.
The Following Investments will probably have a Money Wave Buy Signal soon. (Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY 1/03/2020 NONE TODAY
THERE WILL BE NO LONG TERM TRADES THIS WEEK.
Money Wave Buys Signals Soon (Short Term): (Best to Buy these when the S&P 500 is also in the Green Zone.)
MBOT MICROBOT MEDICAL INC.
RH RESTORATION HARDWARE
BBY BEST BUY CO. Money Wave must Close in the Green Zone.
IMGN IMMUNOGEN INC.
ITCI INTRA-CELLULAR THERAPIES This one is a wild “story stock”.
LEG LEGGETT & PLATT Medium Term Buy if it Closes above $51.67 on High Volume.
RAD RITE AID CORP.
ROKU ROKU INC. Relative Strength is Below 90.
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).
EXPR EXPRESS INC. EXIT if it is going to Close below Support of $4.64.
ARDX ARDELYX INC. EXIT if it is going to Close below Support of $7.21. This trade was not logged.
Check PORTFOLIO (Open Positions) and adjust your Sell Stops.
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.
We will “Not Log” trades if the Reward/Risk is not at least 2:1.
HAVE A NICE WEEKEND!