***NOTE: WFM: Defensive move-sold 1/2 the position at 30.57 the last 5 minutes of the day. Teeny loss and now we can add if it clears the moving averages and holds up.
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***Sold ½ at 30.57 New Position: WFM: Long ½ at 30.95 ATR: .68
Name of Instrument: Whole Foods Market
Current Price: 30.61
Sell Stop: 29.77
Reason For Trade: Bought on an Opening Range Reversal, we risked around 2 ATRs to see if this could get traction over the moving averages which are converging. The pressure of the overall market prevented further gains. As a defensive measure, we sold ½ as the reversal pattern failed to confirm and WFM was unable to recapture the 10, 50 and 100 daily moving averages. As the momentum has shifted to positive, and this does not report earnings until May 4th, we will keep our eyes on either an add, or if stopped out, a new entry once those moving averages clear.
First Profit Target: Sell ½ at 33.74
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Existing Position: Long 1/2 SLV at 14.30
Name of Instrument: iShares Silver Trust
Current Price: 14.48
Sell Stop: 13.83
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: 16.09 Could be changed
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Existing Position: Long ¼ GLD 104.35 ATR: 1.28
Name of Instrument: SPDR Gold Trust
Current Price: 118.58
Trailing Stop: 114.74
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: 16.06
Trailing Stop: 15.47
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: 20.79
Trailing Stop: 17.74
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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Existing Position: Long 1/2 position in DBC at 12.64 ATR: .24
Name of Instruments: DB Commodity Tracking Index and PwrShares DB Ag Fund
Current Price: DBC: 12.99
Trailing stop: DBC 12.95
Reason For Trade: In DBC now only.
First Profit Targets: DBC: 13.84 for 1/2 off
DBC
