Markets are mixed again today, as the S&P 500 dipped down to the Pink Line (10-day avg.), and should burp up soon. The S&P, DOW, NYSE & Transport Indices have still not made it back up to the March Highs.
Try to unload investments that you own that are struggling (not making New Highs), so you will have Cash to Buy again in the Green Zones!
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.
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: KBE Banking Fund Money Wave Buy today. We will not log this trade.
CARA CARA THERA. Money Wave Buy today. We will not log this trade.
Money Wave Buy Signals soon: BAC BANK OF AMERICA, ITB HOME BUILDING FUND, KLAC KLA-TENCOR, SCSS SELECT COMFORT, & TEX TEREX CORP. We will email you when they are ready. Click on WatchList
SELLS TODAY: We will lower the Sell Stop Loss once more on VALE VALE DE RIO to $8.19 Support. The Steel Stocks have been blistered!
EXIT NVDA NVIDIA CORP if it is going to Close Below the Pink Line of $103.87.
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.
About 1/3 of the time, the Money Wave Buys will result small losses, so please use a Sell Stop Loss after all Buys.
I see you did not book KBE today, I’m guessing because it is to far above green line ?
Also, you did not book CARA, again I’m guessing because it popped about 6% ..
I am sure I am not the only one that would appreciate a quick comment on why you
are not logging trades. You have done that in the past.
Thank you for your website, great resource!
No we will not log KBE or CARA today…
Markets are too far above the Green Line, and Greed has taken over on Investor’s Emotions!
Financials are really lagging, even though the Relative Strength is staying up high.
Isn’t BAC a buy today?
Why did you say soon?
The Rules require that the Money Wave Close in the Green Zone (Below 20), and then >20 is a Buy.
BAC KLAC & SCSS dipped down below 20, but did not Close… This is mainly because the Markets have not pulled back enough, yet.
Be patient… May is usually not a good month for Stocks, and Financials are lagging on fears of continued Low Interest Rates (possible weak economy).