New Position: FCG Long 19.61
Name of Instrument: First Trust ISE Reserve Natural Gas
Sell Stop: 18.67
Current Price: 19.94
First Target: 20.79 for ½
Reason For Trade: Clearing the 50 DMA for phase change. Over the 200 weekly and 23 monthly moving averages. Possible move near 24.00 makes risk/reward good
+++++++++++++++++++++++++++++++++++++++++
Existing Position: Long IGT 17.96
Name of Instrument: International Game Technology
Current Price: 17.20
***Revised Sell Stop: 16.24
First Target: 19.24 for ½ off
+++++++++++++++++++++++++++++++++++++
Existing Position: Long FITB 19.10
Name of Instrument: Fifth Third Bancorp
Current Price: 20.36
Raised: Sell Stop: 18.99
First Target: 20.97
+++++++++++++++++++++++++++++
Existing Position: Long XHB 30.70
Name of Instrument: SPDR S&P Homebuilders
Current Price: 31.60
**Revised Sell Stop: 30.44 (Have 2 ATRs now)
First Target: 32.49 Sell ¼-1/3
+++++++++++++++++++++++++++
Existing Position: Long TEX: 35.00
Current Price: 35.10
Name of Instrument: Terex Corp
Sell Stop: 33.14
First Target: 37.09 Sell ¼-1/3
++++++++++++++++++++++++++++++++++++++
Existing Position: Long XRT 82.78 ¼ position remaining
Current Price:
Profitable Trailing Stop: 85.47
First Target: 85.77 for ½
REACHED **Second Target: 87.49 sold another ½ of remaining balance
+++++++++++++++++++++++++++++++++++++++++
The Dow closed on new highs yet didn’t make new intraday highs. The S&P 500 and NASDAQfirmed, still a bit away from their highs. The Russell 2000s nearly doubled the performance of the other 3 percentage wise with a shout out to the 2013 highs ever so close-111.62- and some good accumulation in volume. So, it’s the small caps once again, leading the charge, which is fine by us! The other “tells” cooperated. Real Estate, although still in a bear phase, firmed,Financials soared to new highs and rates dropped a bit. We head into the end of the week stronger, smarter and better off in our P&Ls. Now, my sense is a big blow off rally is coming-question is when. Don’t guess, gauge!
S&P 500 (SPY) 178.50 the 10 DMA support. Subscribers: Positive Pivots in all.
Russell 2000 (IWM) 111.62. Remember my name!
Dow (DIA) Best evidence of a possible blow off coming to a theater near you.
Nasdaq (QQQ) 82.70 was my number. Now it has to clear 83.60 and keep going
XLF (Financials) Nice run to new highs
SMH (Semiconductors) Back in an unconfirmed bullish phase. Subscribers: At the top of the channel I showed you in today’s video.
XRT (Retail) Working it-Has to hold the fast moving average
IYT (Transportation) Holding the 10 DMA
IBB (Biotechnology) New 2013 highs good for $25-30 over time.
IYR (Real Estate) Inside day which leaves me a bit incredulous on whether we can consider this firming action or just a pause before lower prices
XHB (Homebuilders) What I expected after 3 days of digestion. Like a snake, on the move.
GLD Lower but sat there-might be up to its of late tricks-boring to daytrade, a good run to 122 area will get me short
USO (US Oil Fund) Looking for this to fill the gap to 34.60-then reevaluate
OIH (Oil Services) Playing in another world-not cooperating with the other groups-where to go for a short if market corrects again
XLE (Energy) Promising to take out 2013 highs
XOP (Oil and Gas Exploration) Super impressive comeback clearing back over the 50 DMA
TBT (Ultrashort Lehman 20+ Year Treasuries) TLTs possible slingshot low. Subscribers: Right on the 80 monthly so might be good for a pop
UUP (Dollar Bull) Subscribers: Inside day and interesting here if holds 21.80 for another run-
FXI (China) Subscribers: After missing the slingshot, now with a gap higher clearing the 200 weekly and perhaps the 80 monthly, like this over R1 39.87 with tighter risk to S2 tomorrow
FCG (First Trust ISE Reserve NatGas) Set up perfectly today
Bye for Now!
