09/29 /2016: Markets dropped today as buyers had no news and many Investments are very over-bought. The S&P 500 wants to re-test the August Highs of 2194, but needs help from Bonds.
If the S&P 500 does not blow thru the August highs, the Markets could be in trouble. Support is 2119 on the S&P 500.
Money Wave Buys on Thursday for AMAT BVN CDE
Soon for EXAS RICE SLV We will email you when they are ready.
Charts for Leaders Watch List Page Closed Positions.
Alert! Market Risk High (Red Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction
Question from Jim:
“I thought you were using the SMA 10 on AMD as the stop which is 6.30 yet I checked the Open Positions page and saw that you stopped out at 6.50. What are you using that made you raise the stop to 6.50? Trying to understand the rules. Thanks, Jim”
Answer: AMD was struggling again at $6.65 Resistance… Normal Stop Loss by the RULES would have us stay in until it Closed below $6.30. We have gotten burned several times this year buy not capturing an 8% gain, so we over-rode the Rules and Sold at $6.50 before the Close (and sent out email). A bird in the hand, has been better lately in this Market…
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