07/09/2017: Markets were mixed again for the week, as the S&P 500 has been hoovering Above the Red Line (50-day avg.) for 6 weeks. Several of the FAANG Stocks (AAPL NFLX & GOOGL) have Closed but their Red Lines.
The TECH Stocks are trying to hold Above the Support of the Red Lines (50-day avgs). The Leaders should re-test the Highs soon, as many Investments were back down in the Green Zones (probably too late to Sell for the Short Term).
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 Waiting on a Green Zone Bounce.
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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QUESTION: Duane writes ” Is there a certain time that you have a Chat Session?
I have seen some comments by people that they have enjoyed the chat.”
ANSWER: Thanks for writing Duane!
We will have another Chat Session on Saturday Morning July 15th, at 11:00am EDT.
Please log into the web site, and go here CHAT SESSION.