Exisitng Position: FCG Long 19.61
Name of Instrument: First Trust ISE Reserve Natural Gas
Sell Stop: 18.67
Current Price: 19.85
First Target: 20.77 for 1/3 to 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
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Existing Position: Long IGT 17.96
Name of Instrument: International Game Technology
Current Price: 17.16
Sell Stop: 16.24
First Target: 19.24 for ½ off
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Existing Position: Long FITB 19.10
Name of Instrument: Fifth Third Bancorp
Current Price: 20.57
Raised: Sell Stop: 18.99
First Target: 20.97
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Existing Position: Long XHB 30.70
Name of Instrument: SPDR S&P Homebuilders
Current Price: 31.37
**Revised Sell Stop: 30.44 (Have 2 ATRs now)
First Target: 32.49 Sell ¼-1/3
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Existing Position: Long TEX: 35.00
Current Price: 36.00
Name of Instrument: Terex Corp
Sell Stop: 33.14
First Target: 37.09 Sell ¼-1/3
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Existing Position: Long XRT 82.78 ¼ position remaining
Current Price: 87.65
Profitable Trailing Stop: 85.47
First Target: 85.77 for ½
REACHED **Second Target: 87.49 sold another ½ of remaining balance
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Light volume, digestion of prices, no radical change in the breadth of the market-as predictable ahead of Thanksgiving-or “Thanksgivingukkah”- as are long airport lines, turkey, stuffing and football! An optimist is a person who starts a diet on Thanksgiving Day. So, it seems, are the folks just realizing the market is on new highs.
S&P 500 (SPY) A rising fast moving average now, 179 becomes pivotal. Subscribers: Positive Pivots in all.
Russell 2000 (IWM) 113 now likely with 111 area support near term
Dow (DIA) The rising fast moving average here is 159.15
Nasdaq (QQQ) Hit 4000 then retreated a bit but the ETF new highs
XLF (Financials) Yup, new highs!
SMH (Semiconductors) Holding the 50 DMA and when Intel stops getting hit, should be a good place to look for a long
XRT (Retail) Quiet ahead of Black Friday.
IYT (Transportation) 128 support and 129.63 the 2013 highs
IBB (Biotechnology) “New 2013 highs good for $25-30 over time.” Written last Thursday. On Friday it moved up 7.00 into that projected forecast! On Monday it climbed another $3.00 to put this $10.00 in to that predicted target.
IYR (Real Estate) Inside day and looking heavy-at some point this has to catch up or the market will get jittery.
XHB (Homebuilders) 31.00 new area of support to hold
GLD Almost a complete reversal candle but didn’t fit the criteria by the close. For now, more of a short covering rally Subscribers: GDX Slingshot low-like over R1 22.58
USO (US Oil Fund) Opened weaker and if breaks 33.45, could see lower prices. Over 34.10 way better
OIH (Oil Services) “Not cooperating with the other groups-where to go for a short..” From the weekend-now heading closer to support
IFN (India Fund) Inside day. Subscribers: If holds today’s low, good risk against 19.74
FXI (China) No more runaway gap on daily chart, but still in a good short on the weekly chart
FCG (First Trust ISE Reserve NatGas) 20.00 pivotal
VXX Subscribers: Another possible slingshot low if clears 44.94 R1
Bye for Now!
