ETF Trading Research 3/29/2017
Today’s Trades
Couple failures in UVXY and DGAZ. Lesson learned is to not go long (typically) ETFs that are not up for the day as it is a gamble. I went ahead and did it again though with JDST but we are up at present. Conservative traders should not be taking these trades.
We did get two that were up for the day and played them long in UWT and GUSH. We tried SDOW for a small loss of 15 cents as well.
The last 2 days we are not getting morning moves and for us to take 6% from JNUG on a day when gold was down and dollar was up I think was a gift. To switch sides end of day and not go home flat gives us some risk though. We’ll see if we can buy JNUG lower and again, my ideal price for buying and going “all in” is between 5-5.50 if we can get there.
Economic Data For Tomorrow
Guess what? 3 more Fed members speaking tomorrow. They are going all out so far this week. They are all speaking I notice AFTER the “noisy” as Janet Yellen calls it, GDP data comes out at 8:30. We also have Initial Jobless Claims at 8:30. Nat Gas Storage at 10:30.
http://www.investing.com/economic-calendar/
Stock Market
Hard for me to trust anything long and SDOW and FAZ still showing strength is telling us the trend is overall still lower. We’ll look to go long those tomorrow if we get a bad GDP read.
Foreign Markets
No call here but should have concentrated on EDC a little more. If you follow the nightly report and trade the green weekly’s. you can always profit from it without me saying to get in. I sometimes get caught micro managing JNUG and JDST that it takes me away from other opportunities. EDC would have been one of them. Probably ignored it some as I think markets are heading lower overall.
Interest Rates
Still long TLT and up on the trade.
Energy
Friday we have Baker Hughes US Oil Rig Count and we’ll look to take half off the table before that report if we haven’t already.
Precious Metals and Mining Stocks
Today as I said was maybe a gift in JNUG. We played it about as well as we could and took the 6% profit. Now we are in JDST and I won’t stay long if the signals don’t show a pullback. If the dollar for some reason goes over 100 again, JDST can get us some profit. But GDP report tomorrow may have us out. However, if GDP did come in good, then JDST should do well as gold and silver should fall a hair. Tough call.
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):
GASL, GUSH, UWT, BRZU, UGAZ, ERX, JNUG
We should be careful with the bold ones above tomorrow so might take some profit on a gap up higher from today’s close in the morning.
Cold Corner (the biggest moved 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):
DRIP, DWT, ERY, BZQ, JDST (ERY turned red on the weekly)
Current Non-Weekly Green Trades We Are In
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. It is also used for tracking the percentage from high to keep a stop on remaining shares. 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 before typically well before they start to fall again. 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 too. 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.
