Existing Position: WFM: Long 1/2 30.50 ATR .75
Name of Instrument: Whole Foods Market
Current Price: 30.49
Reason For Trade: Second probe on a low volume reversal pattern. ½ position to be conservative but you are welcome to have more on as the risk is still 2 ATRs away and now under the recent low. Focused on this stock because the momentum remains positive and the 50 DMA just crossed above the 100 DMA. The slope on the 50 DMA is positive. Reports May 4th.
Sell stop: 28.97
First Target to sell ½: 33.47
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Existing Position: Long 1/2 SLV at 14.30 ATR .27
Name of Instrument: iShares Silver Trust
Current Price: 15.43
Sell Stop: 14.44
Reason For Trade: SLV one of those times I had 2 choices-reduce risk or increase it. We went for reducing it with the idea it could turn around. We bought back 1/2 giving up 1/2 ATR. If good will add. If not decreased exposure on 2nd attempt.
First Profit Target Sell ½: 17.34
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Existing Position: Long ¼ GLD 104.35 ATR: 1.28
Name of Instrument: SPDR Gold Trust
Current Price: 117.71
Trailing Stop: 115.97
Reason For Trade: In a Recovery Phase and trying to base, like the wider risk to see if it can hold the January Calendar Range Low 102.49. If it does, 106.24 is the January Calendar Range high. If that clears it also clears the 100 DMA with next overhead resistance at 109 the 200 DMA. At this point I’d rather hold GLD in case it has bottom but we will look to take some off around 2:1 risk/reward ratio or at around 109-110 level.
****REACHED! First Target: Sold ½ at 108.00
*** REACHED! Second Target sold another ½ of remaining position: 111.94
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Existing Position: RSX: Long tail 13.70 ATR: .60
Name of Instrument: Market Vector Russia ETF Trust
Current Price: 16.76
Trailing Stop: 16.24
Reason for trade: On Jan. 15th this gapped lower and proceeded to provide a two-day Reversal pattern at the lows which was followed by a gap higher leaving an Island-Bottom formation in place. This pattern is a strong signal that a longer term bottom is now in place and provides support from which to trade.
Sold ½ at First Target: 15.47
***Second Profit Target sold at 15.74-no more profit targets will just trail up stop in tail
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Position: Long ¼ GDX 16.55 ATR .80
Name of Instrument: Market Vectors Gold Miners
Current Price: 22.18
Trailing Stop: 20.47
Reason For Trade: After exploding higher earlier in February, the correction was about 10% from the highs. Our long has a stop under the 10 and 200 DMA. Plus, it has cleared a 50 Week Moving Average so our stop is under that as well. A base that has been forming on the daily chart going back from July 2015 and with the recent strength in GDX, indicates that if it can get to 19.00 and hold (near our first target), it can go much higher over time.
REACHED!! First Profit Target: Take off ½ at 18.90
***REACHED!! Second Profit Target: Sold another ½ of remaining position at: 21.24
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Sold 1/3 at 13.53 Existing Position: Long 1/3 position in DBC at 12.64 ATR: .18
Name of Instruments: DB Commodity Tracking Index and PwrShares DB Ag Fund
Current Price: DBC: 13.62
Trailing stop: DBC 12.94
Reason For Trade: In DBC now only.
First Profit Targets: DBC: 14.03 for 1/3 off
DBC
