ETF Trading Research 9/13/2016
I received feedback on how to make this trading service the best I can from many of you and some of your replies are below. I post them so we know collectively that different traders want different things and I need to try and satisfy all involved, so will work towards that end and be clear with my calls from now on so you know what trade suits your style best. No names used of course.
A. “I’m not able to be at my computer for quick trades so the weekly recommendations will work best for me.”
B. Your calls seem fine to me Doug. I adjust stops and purchase amounts per my tolerance of risk and profit objectives.
C. I like service as it is….
But I am only guessing…and am not world’s brightest…it can take time to create new and better habits, adopt new processes. My guess is that I am not so different from most..
Maybe a bit more stubborn.
D. I can say that I’m not able to stay in front of a pc and trade all day so to me the swing trades are more useful. I don’t have access to premarket so those calls wouldn’t be useful to me either. That doesn’t mean that I couldn’t try a scalp some that you really believe in.
So, to summarize I’d like to receive in particular swing trades calls, trades that can be hold overnight or on a longer timeframe (if possible with some macroeconomic explanation or event related calls, ie Fed meeting ahead or fed members speaking) and some scalps in which you really believe and could have a higher potential (something like 5% plus), because I’m not able to follow many calls a day for a relatively small run.
E. premarket is fine but I prefer swing trade types due to my work schedule.
F. I like the combination of both quick scalps for pennies as well as the longer swing trades, particularly for NUGT/DUST pair. This mix is how I tended to trade myself prior to your service so I think what you are doing is perfect. Like the pre-market sentiment too, even if they don’t fully develop into a trade.
Trades for Today
After a good start to the week with the carry over of trades from Friday, and with the move up yesterday and move back down today, it doesn’t make for good swing trades. Without the overnight hold, was a loss on the day of 1.32%. I could have sold EDZ, YANG and RUSS higher to make it a break even day but a small loss doesn’t phase me. The 7% overnight loss in UWTI because of the news overnight from IEA that demand for oil would be less worldwide, killed that trade. It’s the risk we take holding overnight. Holding overnight you can’t keep stops.
Economic Data for Tomorrow
Today we had Fed members come out and ruin our JDST trade, right when it seemed ready to jump. It happens and we keep a stop and don’t look back. With this ETF Trading Service you must keep stops. We have shown that new trades come and most of the time they are good and sometimes great. They will make up for the small stop outs over time. Don’t be afraid to continue trading if you get stopped out. Losses are part of trading.
Tomorrow we have not much data but we do have the API Weekly Crude Oil Stock that may have us out of the UWTI trade before the market closes if we are up nicely.
Yesterday I said “part of me likes it if we can jump on the same ETFs we traded on Friday for profit.” We did start lower but instead of holding something overnight that was short the market, I decided to wait for some calls today. The only calls I made were in the next section but will be eyeing TZA, FAZ, SPXU, BIS and SOXS tomorrow and maybe SQQQ, QID and SDS. I typically like the ones that will get us the more bang for the buck and ideally we would like to see all of these trigger now green on the monthly, but because of yesterday’s nonsense with the Fed members speaking, we got delayed. Below is the updated chart that shows us in a tight range for now, with the end of day momentum pointing up, so no calls long anything short right now.
You noticed today I concentrated on 3 of these ETFs; YANG, EDZ and RUSS. All 3 calls were profitable but then reversed and we stopped out flat or with a small profit. They are all lower than the exit price now. I wanted them to become a SWING call, but need a little more confirmation. They all would have if we didn’t have such a strong up day yesterday.
TBT took the reigns now and looks like it may want to go. I would buy on a break of 33.64 tomorrow. Green on the weekly and see if it can get us to monthly green.
DWTI moved up a hair after the data came out after hours. No call on that move. Over 84.05 tomorrow I might consider DWTI as that was a number it couldn’t bounce past today.
Yesterday I said that “UGAZ moved higher and is worth keeping an eye on” and we gave it a shot today only to get stopped out. Professionals were in charge of it today and we’re on the sidelines.
Precious Metals and Mining Stocks
We missed the chance at JDST and DUST today by a few cents and could have given us another 10% day if we had held on. We had both green on our weekly and daily showing you the power of the trend with both continuing higher today, but I hesitated to call it pre-market but will not hesitate any longer. I did mention it, and I did personally buy it pre-market at 73.15 and sold too early as I like taking profit. But I won’t hesitate to call it pre-market in the future if I see things going the way they should for us early on. You just have to be familiar with Limit Orders and if not, email me and let me know how I can help.
From time to time I will be adding individual ETFs that have triggered long or short based on market trends. These may or may not be leveraged. These types of trades will be more for longer term swing trades for IRA’s where we can catch a good directional rise. I care not what the overall market is doing with these calls and will provide entry and exit strategies.