Markets were higher today as the Congress approved another $1.9 Trillion of Stimulus Spending Money that we do not have. Momentum Stocks were higher in the morning and then some profit taking came in from yesterday’s gains. The Momentum Leaders that got hit should pop at least 1/2 way back up to the recent Highs, but might need to dip back down once more. Try to only Buy the Leaders that held above the Red Lines (50-day avgs.)
The Market is unusual now as the Indices are near Highs, but the FAANMG Stocks and many Leaders are well off the recent Highs. Must be rotation within the Market, as Investors don’t want to Sell with massive FED Printing & Gov’t. Stimulus.
We are being conservative and only Buying Signals now if the Volume is High (at least 1.25 X the 50-day avg. Volume). The better trades happen when the S&P 500 Index is also in the Green Zone (now coming down from the Red Zone).
Bonds were up today, but are below the Green Line.
Crude Oil was up $0.70 today at $64.71.
BUYS TODAY 3/10/2021
We will “Not Log” trades if the Reward/Risk is not at least 2:1. These have more risk!
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).
ETM ENTERCOMM COMMUNICATIONS Target was Hit at $5.75 for a 16.6 % Gain. This trade was not logged.
Please update your Sell Stops.
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. These have more risk.