Markets dropped back down today as they needed to re-test the recent Lows. The major Indices made slightly Lower Lows, but it does not look like they will Close below Wednesday’s Low.
The Markets are extremely over-sold, and the FEAR Index has not made Higher Highs and is in the Red Zone, indicating a Market rally soon. October can be a down month for Markets.
The Strongest Leaders should have nice bounces soon. The Watch List is very Large.
Crude Oil is up slightly at $67.60.
The Following Investments will probably have a Money Wave Buy Signal soon.
(Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY NONE TODAY
Money Wave Buys Signals Soon:
AES AES CORP.
AMD ADVANCED MICRO Wait for 2nd Buy Signal.
AMZN AMAZON.COM Wait for Medium Term Buy.
CGC CANOPY GROWTH CORP.
DNR DENBURY RESOURCES Wait for Medium Term Buy.
ENDP ENDO PHARMA.
ERIC ERICSSON TELEPHONE
FTNT FORTINET INC. Buy Stop Above $83.96.
I INTELSAT GLOBAL
P PANDORA MEDIA
PYX PYXUS INT’L. INC.
ROKU ROKU, INC. Wait for 2nd Buy Signal.
SQ SQUARE, INC. Wait for Medium Term Buy.
XLY CONSUMER FUND Wait for Medium Term Buy.
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 still Way Above the Green Lines (all Investments eventually return to their Green Lines).
LOWER the Sell Stop Loss on AMD ADVANCED MICRO to today’s Low of $17.05. This is fudging on the Green Line Rules, but the Relative Strength is still 97 (from Investors Daily), and AMD is back down in the Green Zone for another Money Wave Buy soon. It should have a nice rally up near the Pink Line around $23-$24 once it bottoms.
Please 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!