Markets are down slightly today, but the DOW is holding up the Markets on buying of Big Blue Chips. The FED raised Short Term Rates yesterday. The S&P 500 is trying to hold Above the Pink Line (10-day avg.) around 2434, to avoid a Short Term Sell Signal.
The Leading Techs and Semiconductors are re-testing Monday’s Lows & the Red Lines (50-day avgs.) again. Then they could have a possible “W” pattern back up to the Highs (see Chart above).
The Money Wave Buy list is growing, which normally means a bounce on the Markets soon. Try to Buy Investments that just made fresh new Highs, and still have Relative Strength Above 90.
Money Wave Buys soon!
The Following Investments will probably have a Money Wave Buy Signal
(Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY:
PYPL PAYPAL HOLDINGS Money Wave Buy today. Sell Stop if Closes Below $50.83.
Money Wave Buy Signals soon: AAOI APPLIED OPTO, BBRY BLACKBERRY INC, BBY BEST BUY CO. EXAS EXACT SCIENCES, JD JD.COM INC, LL LUMBER LIQUIDATORS, UN UNILEVER N V. & YHOO YAHOO! INC. We will email you when they are ready. Click on WatchList
Emotions are very high now, so please do not Buy unless you are VERY NIMBLE. The Leaders are still Way Above the Green Lines (all Investments eventually return to their Green Lines).
SELLS TODAY:
EXIT SGMO SANGAMO THERA. if it is going to Close Below your Buy Price, or $7.20.
Click for PORTFOLIO (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. We will not log trades if the Reward/Risk is not at least 2:1.
What is your thought on using trailing stop loss %? Thanks!
Yes, that would be good David, since we have gotten burned waiting for a Close before selling…Maybe max 3 or 4%?
Also, maybe max 3 or 4% below Support, and not wait for the Close. Usually the Market Marker Flush is only 5-10 cents below Support, if it is going to Hold Above Support by the end of the Day.