I see good signs in the market this week. The moving average lines are beginning to cross to the upside (See the 5 SMA crossing above the 10 SMA…this isn’t a major bull sign or anything but it means that the market is beginning to beat the drop we’ve had). I like that the DOW is above the 200 SMA. Hopefully, the S&P 500 will get there soon. With that said, I think it bodes well for us to be …Read the full article
I sold my full position in GUSH for a small gain. I sold part near the open at 22.50 and the remainder just now at 22.48. After a pre-halloween scare, I’m really glad to be out of this one. Cheers!
Futures have turn green overnight and I did not want to miss out on a move in crude. I bought in to GUSH (small 1/3 position) at $22.40 premarket. I will check this around lunch time and buy more if it goes lower.
I think there’s a good chance that we get a small rally this week. This may be just into November but should be a tradeable rally. I’m watching the IWM and the SPX for a signal of going higher short-term. If oil looks like it’s bottomed, I’ll most likely look into GUSH or another oil ETF. This Market is very unpredictable right now and I am being extra careful. The Futures are mixed as I type so I most likely …Read the full article
I’ve decided not to let this trade go negative on me. I sold the rest of my position at $43.66.
I sold half of my position near the market close. Filled @ $44.80 for almost 3%!
We had very choppy markets last week and I don’t expect the seas to instantly calm this week. With that said, the major indexes seem to have pulled back to and bounced off of a lower trend line that I’ve illustrated here on the DJIA: In addition, RSI has come back down to a more reasonable level overall (45.8 for the DJIA). These are both signals that I look for to indicate green markets but I do expect continued chop …Read the full article
I sold my remaining shares of SCVL for a small profit. My sell prices on the remaining half that I just sold today are half at $38.32 and half at$38.83. I’m glad to get out this week with a profit. The markets have been whip-sawing and this trade has not been behaving as well because of that. Have a good weekend! We’ll get back to it next week.
I sold half of my position for even money today to reduce risk going into the latter half of the week.