Taking Profits today!
The Markets have squirted up more today, as the S&P popped up above 2214 to 2226 soon. We are taking profits today, as the Bullish Sentiment is too HIGH. A normal pull-back would take the S&P 500 down near the Red Line (50-day avg.)
We are going to take some profits for Short Term Traders:
Sell FCX FREEPORT-MCMORAN INC if it Closes below the Pink Line or $15.59.
Sell GGB Gerdau USA today on the Close, or if it Trades below $4.00.
Sell MU Micron Tech today on the Close, or if it Trades Below $20.20.
Sell JWN NORDSTROM INC today on the Close, or if it trades below $59.40.
Sell WEN Wendy’s Co. today on the Close.
ON DECK: NONE
WAIT for Money Waves Buys soon coming out of the Green Zones. We will email you when they are ready.
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Many like to buy the day before, if the Investment has not 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 Buy orders.
Where do you get your sell targets for GGB ($4.00), JWN ($59.40) and WEN? Are they arbitrary based upon moving too far too fast or are they based upon some other support level that we don’t track? I ask because my experience with the site is that per the signals I have sold some for very small losses while holding others and ultimately selling for larger gains. I don’t want to leave money on the table by selling a position with momentum just because it’s gone up quickly. Thank you for a great system/site!
Markets are running on pure Trump Emotion… Hang on if you want. Owning Stocks when the VIX (Volatility Index) is Below $12 is a poor bet…
This rally does not wave the Low Interest Rates to bail it out… Volume is not High… This should be the End of Wave 5 up since banging off Green Line last month (1650 DOW points ago).
Makes sense. Not enough potential upside to compensate for the increased risk. Thank you.
Yes, Poor Reward / Risk now, but risk not as bad when Money Wave was in Green Zone (Over-Sold & Before Short Covering Pop).
I dont see WNR, AMKR or BBY listed on the watch/buy list. am i looking in the wrong place? Do you suggest taking profits on those as well? Thx
FYI- bby has a huge short float, just made new 52 week high and the squeeze may be on.
Probably will sell the rest in the morning… Ones that made much Higher Highs are not as urgent… More worried about possible “Double Tops” on many.
BBY did not quite make it down into the Green Zone (strongest usually don’t) so BBY was not an official trade… AMKR is on the List…
WNR is not, as we decided not to log it 🙁 but the Charts are here.