Existing Position: Long SLV 21.82
Name of Instrument: iShares Silver Trust
Current Price: 21.87
Stop Loss: 20.93
First Target: Take ½ 23.44
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Existing Position: Long XRT 82.78
Current Price: 83.88
Stop Loss: 80.44
**LOWERED: First Target: 85.77 for 1/2
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Existing Position: Long EEM 42.85
Current Price: 42.56
Stop loss: 41.19
**LOWERED: First Target: 44.25 for 1/2
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Existing Position: Long: FXI 37.31
Current Price: 36.49
**Adjusted LOWER**Stop Loss: 36.14
First Target: 38.97 take off 1/3 to 1/2
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Existing Position: Long EWG 28.02 Sold 1/3 to ½ 29.33
Current Price: 29.41
**New Profitable Trailing Stop: 28.64
**Next Target: 32.97
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Note: Reports October 29th before the open. Existing Position: X Long 20.68 ¼-1/3 Position Remaining
Current Price: 23.48
**Next Target for Exit Before Earnings October 29th: 26.19
Profitable Trailing Stop For Balance: 22.37
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What boat were you sailing on? The one heading to a recovery phase in GLD (gold)? Or, the one that the Vikings could have called “Homebuilders”? Maybe, you cruised on the stink pot calledNatural Gas? How about the high Technology boat? You also could have taken a trip on Jet Blueor Delta Airlines. Regardless, the money flowed in several directions, although in US dollars, you got less value for that money. Curious that rates firmed a bit as well, leaving a possible reversal candle in the ultrashort TBTs. However, thanks to Amazon, we can all hop a train (Railroadsran this week), a plane and an automobile (Ford rocked) to our yachts, smoke our e-cigarettes (Lorillard on new highs) and shop online using our AAPL 4G servers! Life’s good on the Street.
S&P 500 (SPY) Volume has slacked off some this week but this market seems to want new highs. It’s been a week defending the gap lows from last Friday-seems for real. Subscribers: Positive pivots in all indices
Russell 2000 (IWM) 109.83 is last Friday’s low. We’re seeing that now in the rear view mirror
Dow (DIA) 153.33 is the fast moving average support to hold
Nasdaq (QQQ) 82.90 daily chart high which was the bid in the aftermarket
XLF (Financials) Like to see this clear 20.88-to negate the topping candle
SMH (Semiconductors) Inside day and not exactly wowing me here
XRT (Retail) Negated that topping candle looking a lot better
IYT (Transportation) Parabolic
IBB (Biotechnology) Let sleeping giants lie.
IYR (Real Estate) A gap over the 200 DMA would be interesting.
XHB (Homebuilders) Subscribers: Took 2nd profit and holding on as long as the moving averages hold
GLD Unconfirmed phase change to recovery Subscribers: SLV not expecting fireworks here, but holding the 50 DMA
USO (US Oil Fund) Possible reversal candle Subscribers: Confirmation of a slingshot will be a move over 35.16
OIH (Oil Services) Clawed its way back, but not by enough
XOP (Oil and Gas Exploration) Filled the gap from the topping candle and looking like its old self again
TBT (Ultrashort Lehman 20+ Year Treasuries) Subscribers: Brick wall possible if holds 72.40.
VXX Subscribers: Still here until S2 and recent lows break
FXI (China) Confirmed distribution phase and oversold-36.19 gap low from September like to see hold
Bye for Now!
