ETF Trading Research 10/23/2017
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):
Market makers started to give us some trades and I think it helped going home flat on Friday and starting with a clean slate and view of the market. We got in JDST and profited a couple times, missed the smack down after President Trump said he was close to a Fed Chairman replacement of Yellen (looks like Powell) and a Japanese warning on NK nukes. Took care of profit in UVXY to get back some of the prior losses (albeit it was difficult to continue to trade long and see it fall further, I think what I wrote yesterday with the SVXY trades each day we will begin seeing with the UVXY trades moving forward, but I won’t get too cocky just yet. Happy to lock in the 3% and 5% on the 1/2 trades today. We got has high as 7.7% from entry I believe. UGAZ I was mistaken end of day and it didn’t break below 10.69 during market hours. If not in it, I still want to give it a chance, so I left it as a long, only because we typically get some sort of a move out of a red trade the opposite reversal. Perhaps “not on Monday’s” when we always seem to see big moves of late (last 4 weeks, 3 down and this one up). More on metals and miners below.
Economic Data For Tomorrow
Tuesday we have Manufacturing and Services PMI and API Weekly Crude Oil Stock after the close.
http://www.investing.com/economic-calendar/
Precious Metals and Mining Stocks
Big move in USD/JPY overnight to 114.09 after Shinzo Abe won another election. The question is, will it be sell the news all the way down to 107 now? Will 114.50 be hit? If we got within 40 cents of it and failed, that’s just fine with me.
Liked how we switched out of JDST twice and profited and now we are getting our feet wet long again, with one eye on the USD/JPY.
I wrote this note late in the day;
Does this explain Bullion Banks’ relatively small short position on the Comex? Are Bullion Banks now betting on a rally in Gold & Silver? …
The Dollar index dropped and gold jumped as President Trump told reporters during a meeting with the prime minister of Singapore that he was “very very close” to a decision on who would be the next chair(person) of The Fed…
Jerome Powell continues to be the front-runner…
In a span of five minutes, 18,792 gold contracts, each representing 100 ounces of the metal, traded on the Comex at around 11:55 a.m. in New York – this represents around $2.4 billion notional of sudden buying-panic…
Pushing the precious metal above its 100DMA
Monday Afternoon Price
Sunday Night Price
Thursday Afternoon Price
Wednesday Price
Tuesday Price
Hot Corner (the biggest movers – 3% or more – or new ETFs that are green on the weekly – those in bold are consecutive days in the Hot Corner):
DRIP, BZQ, UVXY, UGAZ, LABD, YANG (BZQ, RUSS, LABD new green weekly’s)
Cold Corner (the biggest move lower 3% or more that are green on the weekly and or weekly/monthly or turned red on the weekly – those in bold are consecutive days in the Cold Corner):
BRZU, GUSH, DGAZ, LABU, YINN (DGAZ new red weekly)
Green Weekly’s
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!
