ETF Trading Research 1/9/2019
We are working on a system to keep you up to date with the yearly returns automatically updated each day. These things take a little time but I think it will help me concentrate more on keeping us going in the right direction. To that end, I am keeping stops tighter but still hesitant when I see some opportunities for the trading service and am going to get a little more aggressive when I get closer to the turning points like 2596 in /ES today. However, I prefer we have one more leg up to get short so we will buy LABU most likely in the morning as our only green weekly.
Metals and miners I said I leaned JNUG at 9.88 this morning and it went to a high of 10.41 and kept itself at 10.22 all afternoon post Fed minutes. I still see a topping potential from 1300 to 1315 range in gold.
UGAZ you have noticed I am concentrating on more with some day trades. I find it easier for us to concentrate on one or two ETFs and get consistently familiar with them and trade the potential, most times with the trend. I chose UGAZ over UWT but if we were trading UWT instead we would most likely be up more. I’ll keep expanding into the ETFs that have been beaten down or but the real money we need to concentrate on those green weeklies. The problem is now, we don’t have that many. We will. And I will be implementing the night before each trade a “Buy at the open” setup so we get more consistent WITH the trend. With stops. But the ability to get long again because that is the trend.
Tomorrow morning at the open you will see a buy for LABU based on the parameters I give to see if it qualifies for a long at that point. Believe me when I say this will keep us more focused on profiting with the trend on ETFs that I may concentrate on at first by saying they are ready to go higher and after a few initial trades, forget about them. I had this designed into the system to help us get more out of these trends and this is the best way to do it, the night before, so we don’t lose sight of them. We can’t be afraid to buy the trend each day. The rest of that trade then should be following our rules on profit taking and stops. It’s not just green weeklies that I will do this with but some other ETFs based on a system I have as well. But to start, we’ll go with LABU.
We are giving back a little bit in the markets after hours here as TVIX goes higher, but this is built into the buy of LABU already with my rules I have for it.