ETF Trading Research 1/17/2018
For those of you new here, I most of the time have the ETF Trading Research report out by 8PM PDT, and it comes by an RSS feed, but you can look at the report here sometimes before you get it in your mailbox; https://illusionsofwealth.com/category/etf-blogs/ This is also the same link if there are any technical difficulties.
Today’s Trades and Current Positions (highlighted in yellow):
I wrote early on it was a day to sit on hands. I wrote early on it was a professionals day. But I couldn’t stop myself. We did however start the day with profit in UVXY and did not get back in as it kept falling. We were patient with DGAZ and took a small hit. But JDST upset me in that I was right about gold the last two days but didn’t give the dollar a chance to bottom out. Gold has been down both days and today it fell hard after the Beige book as the dollar shot up. I still think JDST is a good price to get long. While the ETFs called were listed in the Aggressive category, the ones we got out of continued down except for JDST which went higher after the data. DWT and DRIP moved up and after hours the oil data came in as bullish, but not much move. We will see what the data brings us there tomorrow. Will be nice to get oil to run lower now. It’s coming. Been consolidating for this move for a week or so. UVXY is also interesting. It went up after the beige book as the stock market took off higher. If all is well, why is the VIX moving up. Will be interesting to see what it does tomorrow.
Economic Data For Tomorrow
Philly Fed and Building Permits early with Initial Jobless Claims and Nat gas along with Crude Oil Inventories after the open. Be on your toes.
http://www.investing.com/economic-calendar/
These are the ETFs that have turned green on the weekly and the dates they turned green. This is used for tracking your percentage gains so you know when to take profit for each ETF per the Trading Rules profit taking guidelines. These green weekly’s work as you can see from the %Gain/Loss tables. You won’t get the exact high with your trade but you will also be out typically well before they start to fall again or turn red on the weekly. Your best way to profit with the service is stick with the green weekly trend and take profit while using a trailing stop on remaining shares. Also, if these green ETFs are up for the day at the open, they offer the best scalping opportunities. I am always fine tuning this section so if there is confusion at all, email me and be specific and I’ll be happy address.
I know I have said this many times but it is worth repeating; If you stick with the green weekly trades your odds of profit increase as there is more risk with the day trades. I call the day trades with the intent of catching some runners, so will get a few 1% stop outs but eventually catch the 5% to 10% or more runners. The important part of the list below is that the longer the ETF stays on the list (the one’s at the top of the list by Entry Date) the more likely it is to turn red on the weekly and the opposite ETF comes into play as a long.
Sell half shares on a spike up on any ETF you are long, even if goal is higher. Spikes higher are almost always followed by moves in the opposite direction. Try and get out with a market order quickly before the quick move back lower. Lock in that profit!
