ETF Trading Research 9/10/2017
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):
We had a mixed day on Friday doing well in metals but not with energy. Overall our short the market trades are biding time for the bigger move for us that should be coming I think this week.
We should be careful with mining stocks still and also look to see if energy rebounds after the end of week smack-down culminating on Friday.
Economic Data For Tomorrow
No real market moving economic data Monday and again Tuesday so we have to be careful for market maker games. This typically means taking profits quicker on half shares and trying to trade with their money.
http://www.investing.com/economic-calendar/
Oil I still think we can move over 50 and higher and want to be in this trade in UWT long. Also GUSH. Perhaps we get a dip lower but we should be moving higher very soon.
Precious Metals and Mining Stocks
We did a good job of selling half shares of gold/silver and miners pre-market on the spike up using the spike up rule and it paid off as the price just continued to fall after that. We changed our stops to a trailing stop and still came out with profit on the trade. Instead of looking to short with JDST, we waited patiently for an entry into JNUG and NUGT half shares and are ready for the potential of a leg up now. I’m not as confident short term in metals so we have to be on our toes for taking profit or keeping a stop. We can still shoot up to the 1377 level or just begin a move lower short term. Some of it depends of course on what the dollar and USD/JPY are doing as they are due for a bounce after the recent beat downs. These have to be watched as we are long and we are only long half shares and not full in on USLV or UGLD yet. Even if we follow the rules to buy the open of these green weekly’s if higher, and buy at the open on Monday if higher, we have to be careful of a reversal now. So I would entertain tighter stops. This report is being written before Asian trading so we’ll see what Asian and Europe brings us by open Monday and I’ll update in pre-market Monday morning. But you have where I lean. Kind of iffy so we turn to the dollar and USD/JPY for clues.
Current Price
Thursday’s Price
WHEAT – Still in a bull mode off the bottom. just not straight up.
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):
DWT, DRIP, DGAZ, JDST, UVXY, SOXS,
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):
UWT, GUSH, UGAZ, JNUG, SOXL, NUGT
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!
