Weekly Commentary July 9, 2017

 

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 Interest Rates continued higher this week, and the US Dollar is still weak.

 

MONEY WAVE BUYS SOON:    We are currently in 4 logged Open Positions,  There are 5 Investments are on the Short Term Watch List.  

 

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.

 

Click for  Portfolio (Open Positions)  
Click for  Watch List
Click for  Closed Positions

 

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.

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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.