07/16/2017: Markets finally bounced off the Red Lines (50-day avg.) and are back up to the Highs. We will see if the S&P 500 can push higher this week. Most Funds are in the Red Zones, so Short Term Traders should be raising Cash.
Several of the FAANG Stocks (AAPL NFLX & GOOGL) as still Below their recent Highs.
The TECH Stocks held and bounced above the Red Lines (50-day avgs), but watch for FAILURE of those that cannot make New Highs.
LONG TERM TRADES – The Funds below are currently out of favor, but historically could possibly Double or more from these lower levels. We are looking for a good Entry Point for these, but need the entire Economy to pick up speed:
DBC COMMODITY FUND Waiting for Break Out Above $16.08.
DDD 3D SYSTEMS CORP. Waiting for Green Zone Pull-back.
IPI INTREPID POTASH Waiting for Break Out Above $3.04.
JJC COPPER FUND Waiting for > 90 Relative Strength.
KOL COAL FUND Waiting for > 90 Relative Strength.
LL LUMBER LIQUIDATORS Buy Above $25.62 on Close.
MDR MCDERMOTT INT’L. Waiting for > 90 Relative Strength.
UGA US GASOLINE FUND Waiting on Break Out Above $32.03.
VALE VALE DE RIO Waiting for > 90 Relative Strength.
Alert! Market Risk is 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.[s_static_display]
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