ETF Trading Research 11/8/2017

Posted November 8, 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):

Tough day for DWT and DRIP on that market maker move. See below for more. UGAZ was up over 3% for us and came back a little. URA is flat now and poised. JO positive and poised. TMV new entry is up and JDST is up on the second attempt. Should have an easier go at it tomorrow, but let’s be careful with some whipsaw in UGAZ after the Nat Gas report. I will say this about it, Nat Gas is heading up either way. Don’t get whipsawed.

Economic Data For Tomorrow

Tomorrow’s important data is Initial Jobless Claims and Nat Gas Storage 10:30 EDT.

http://www.investing.com/economic-calendar/

Stock Market

FAZ is positive on a day when the markets are higher. That’s a sign of weakness to me, but we also saw TMV move higher and if the market were to fall, TMF and FAZ should be up together. Also, no fear in this market with UVXY still stuck at 15 area. SVXY still green weekly with TQQQ.

Foreign Markets

YANG is getting closer to a trade. Barely down today. BZQ reversed and BRZU is now a New Red Weekly Trade the Opposite Strategy

Interest Rates

We jumped ship to TMV and are up on the trade. 3% goal to sell 1/2. Should get it.

Energy

Nat Gas you might have scalped the profit early from the pre-market entry on that spike up to 11.12, but we just couldn’t climb over that mark the rest of the day. Still positive on the half shares, but a move down to 3.07 before 3.20 may still be in the cards. 3.30 is now our next goal above 3.20. We should get it and are in full buy the dip mode here.

Oil gave us the data we wanted to go long DWT and DRIP but market makers has other plans today. Did I ever tell you I hate market makers? We’ll get long and profit on these soon.

Precious Metals and Mining Stocks

Yesterday I had a slight micro lean to the bullish side without realizing that JDST and DUST had turned red on the weekly. We did get a pop up where we might have profited from, but would have fell into another dead cat bounce trap. We even had DGLD turn red on the weekly, but there is no possible way I can trust UGLD here, not with all signs pointing to a lower price. Those signs being interest rates up with TMV which we are long and a big move up off the bottom on USD/JPY which is now testing 114 once again. It’s a powerful pattern and I fought all day for it and it seems to be the move right now barring any North Korea action while President Trump is in Asia. Higher rates are bad for gold.

There is the potential on the chart of UGLD bouncing off the 10.69 area, but I think we got false flags. UDS/JPY 113.98 as I type this evening. Little resistance at 114. but over 114 and 114.50 and higher comes into play which will put pressure on metals still. The fact that DGLD turned red on the weekly on today’s move is the only thing that would have me bullish UGLD here. Nothing else fits.

Wednesday Afternoon Price

Tuesday Afternoon Price

Monday Night Price

Sunday Night Price

Friday Afternoon Price

Thursday Afternoon 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):

BRZU, DRIP, LABD (LABD new green weekly

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):

BZQ, GUSH, LABU, (BZQ and DGLD new red weekly’s)

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!

Doug Eberhardt