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September 8, 2017

Money Wave Alert! Sep 8, 2017

EFX Chart
Equifax Down on Hack of 143 Mil Americans!

 

Markets are down slightly today, as the Leaders are slowly returning to their Green Zones, to create Money Wave Buys again. 

Most of the strongest Leaders are still above their Pink Lines (10-day avgs.)   WAIT for Green Zone Buys.

The Tech Fund and BioTech Fund made New Highs recently, and they should have good bounces from their Green Zones.

Crude Oil  is  down today at $47.60 / barrel. 

______________________________________________________________________________________________

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:   

BA   BOEING CORP   Money Wave Buy today.  We will not log BA, as it is Way Above the Green Line.

Be patient and WAIT for Money Wave Buy soon for:     EA   ELECTRONIC ARTS,    GLUU   GLU MOBILE INC,    IMGN   IMMUNOGEN INC,    &  WTW   WEIGHT WATCHERS 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    FB   FACEBOOK INC.   if it is going to Close below the Pink Line around $170.24.

 

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.

HAVE A GREAT WEEKEND!

Posted By AbovetheGreenLine at 2:35 pm 4 Comments

Comments

  1. rfbalint says

    September 12, 2017 at 11:30 am

    You called a Money Wave Buy for IMGN on 9/11. You did not log the trade, but you did not say you were not going to log the trade. Why did you not log the trade? Your reasoning would have helped me (and others, I’m sure) avoid a nasty loss on the open this morning.

    Log in to Reply
    • AbovetheGreenLine says

      September 12, 2017 at 11:37 am

      Thank you for writing.

      IMGN is a logged trade (Positions Page has been Corrected), and the Rule is to wait for a Close below Support of $7.02.

      So near the Close, you might want to get back in, if is going to Close back above $7.02, and this is a “False Break Down”.

      Market Makers are good at “running the Stops”.

      IMGN Chart

      Log in to Reply
      • rfbalint says

        September 12, 2017 at 12:31 pm

        It is also worth noting that the IMGN buy signal was diverging from its MACD histogram, which was (and is) heading down.

        Log in to Reply
        • AbovetheGreenLine says

          September 12, 2017 at 12:41 pm

          Yes, the Money Wave bought IMGN too soon. The Money Wave should recycle back into the Green Zone again for another try in a day or so.

          We are lowering the Sell Stop Loss on IMGN to the Red Line of $6.52, as the Relative Strength is still 97, and this could be an A-B-C correcting Wave down
          on the Daily Chart.

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SH Chart
Inverse S&P 500 Fund (SH) will have a Money Wave Buy today.

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