AAPL (Technology Sector Consumer-Electronics) AAPL was featured as our trade idea on July 8, and after a rough start for a couple of days, it did pull out a nice 4% profit. APPL has now pulled back to the 50-day simple moving average and painted a little hammer. The candlestick hammer may be the bottoming signal were looking for to receive a run to $100 or more, possibly a 6% to 10% swing this time.
XXXXXX (No Featured trade idea today) Today being Friday, it’s important to think about how your week has gone and what you can do to end your week on a positive note, no matter how small. Take some time today to reflect on the market and your trading. Have you been fighting the market or have you been working with the market? Are you a friend of the market or are you a foe?
EXK Long (Basic Material Silver Sector) EXK has been forming a bullish flag from mid- July and broke out yesterday above the T-Line and the 20-day SMA. You can also see from the bullish flag the triple bottom lows. FYI, a bullish cup and handle pattern is also visible on the daily. Also check out the base breakout on the weekly chart and a possible 25% profit near-term.
TVIX Long (Daily 2x VIX Short Term) We can draw a buy box around the last three bars of TVIX and with the directional target about 65% away, it’s perfectly logical that we could capture a piece of that profit, if not all. TVIX has formed a Hit-And-Run Candlestick Rounded-Bottom Breakout.
TSEM Long; (Technology Sector so My Conductors) From our original featured trade idea date we’ve already seen a 20% increase, the recent pullback and a bullish piercing candle followed by a close over the T-Line and the 20 day simple moving average yesterday is now set up for another 15 to 20% move
PEIX Long; (Basic Materials Sector – Specialty Chemicals) PEIX has been trending well from mid-June, with a pullback back to the 20 day simple moving average forming a J-Hook pattern and a type of bullish morning star. If you take a look at your weekly chart you can see there is a very profitable upside.
I have been contacted by many traders over the last few days, the concern about the recent selling. Some traders are confused or reluctant to place a short trade. The answer might be the Inverse ETF’s, you would trade them just as you might trade a long trade. I have prepared a list of Inverse I follow. You can find the list below.
No trade ideas today; it’s very important to manage what you have
My entry plan idea:
My stop plan:
