06/11/2017: Markets were mostly up again for the week, but the TECH Stocks finally had some profit-taking. The NASDAQ 100 had been having a Buying Stampede, with the Mutual Funds piling into the Fab Five FAANG stocks. These 5 stocks have accounted for 37% of the S&P 500 Gains this year (according to Barrons).
The Techs should have nice bounces when their Money Waves return to the Green Zones (see Chart above).
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:
DBC COMMODITY FUND Waiting for Break Out Above $16.08.
DDD 3D SYSTEMS CORP. Waiting on a Pull-back.
IPI INTREPID POTASH Waiting for Break Out Above $3.04.
JJC COPPER FUND Waiting on a Green Zone Pull-back.
KOL COAL FUND Waiting for a Bounce off the Green Line.
LL LUMBER LIQUIDATORS Waiting on a Green Zone Pull-back.
MDR MCDERMOTT INT’L. Waiting for Bounce Up & Above 90 Relative Strength.
UGA US GASOLINE FUND Waiting on Break Out Above $32.03.
VALE VALE DE RIO Waiting for Bounce off the Green Line.
WFM WHOLE FOODS MARKET Waiting on a Pull-back.
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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