ETF Trading Research 4/29/2019

The market moved higher today but you wouldn’t know it from how lABU and SOXL acted, as well as TVIX overall moving up. Very odd day to trade, but that’s what Fed week brings us normally. I said yesterday to go lighter shares and take profits quicker, but we didn’t get to the profit side today but kept stops quicker than we should have when we were short. That said, /ES breaking to a new high and oil price moving back up, along with TMV triggering long, tells us the market is still in bull mode overall. BRZU only finished down a hair and miners and gold fell telling us that safe havens are not attractive. Market should have been up more than it was today with all that.

Only signal today was LABD sell and TMV buy.

I was doing some analysis on gold miners today and when we get the move lower with the overall market, will have the list ready of what I see are takeover candidates as well as some high fliers. I am using all of the data from my last analysis in 2015 where many of the stocks were bought out or merged and overall performed well. The HUI is about what it was then again and we’ll look for some bargains. I do expect a decent pullback still in gold and miners with the overall market no matter what the short term moves give us.

Nat gas we saw UGAZ go positive after being down most of the day. Any moves up most likely are shortable.

Watch TVIX overnight here. Hit a low of 191.2 and currently just over the daytime high of 19.80. Maybe it knows more than the market but I did say that the 2945/2950 area was resistance. We just jumped on the short side too soon, but I didn’t want to go short again since we broke 2950. See what tomorrow brings for the bulls and bears but overall I see 3000+ still in the cards.