Markets were down today, as many Leaders slipped below their Pink Lines (10-day avgs) to create short term Sell Signals. Most of the Leaders were back up in the Red Zones (probably too late to Buy for the Short Term).
BioTechs and Semiconductors have bounced about 1/2 way back up to their Highs. There is not much Buying so far.
Please be patient and WAIT for a bigger pull -back, and then follow Money Wave Buy Signals.
Crude Oil is up today around $49.55 / barrel.
Money Wave Buys soon!
The Following Investments will probably have a Money Wave Buy Signal
(Slow Stochastic Closing > 20) on today’s Close.
BUYS TODAY:
RH RESTORATION HARDWARE Money Wave Buy today. We will not log RH, as the Volume is very low.
We will “Not Log” trades if the Reward/Risk is not at least 2:1.
Money Wave Buys soon for: AAOI APPLIED OPTO, NFLX NETFLIX INC, SGMS SCIENTIFIC GAMES, & SHOP SHOPIFY INC. We will email you when they are ready. Click on WatchList
Emotions are very high now, so please do not Buy unless you are VERY NIMBLE. The Leaders are still Way Above the Green Lines (all Investments eventually return to their Green Lines).
SELLS TODAY:
EXIT EWP SPAIN FUND if it is going to Close below the Pink Line around $34.34.
EXIT EWW MEXICO FUND if it is going to Close below Support of $56.00.
EXIT EXTR EXTREME NETWORKS if it is going to Close below the Pink Line around $8.92.
PORTFOLIO (Open Positions)
Click for CLOSED POSITIONS
Many like to Buy the day before, near the Close, if the Money Wave is going to create a Buy Signal (Closing > 20).
Don’t Buy if the Investment has already popped up too much. Money Wave Buys are usually good for a 3-6 % move in a few days. We will “Not Log” trades if the Reward/Risk is not at least 2:1.
Hi Joeanne,
I just recently started subscribing to your newsletter and I bought stock in RH today before close because it was closing above 20. Then your comments came out and said you are not logging the buy because volume was down. Did I make a mistake in buying? I am new at investing but I like your thinking about investing.
Thanks,
Paul
Thanks for writing Paul.
RH has had a big correction, so the First Pop up might only be back up to the Red Line (50-day avg.)
We would have liked RH if it would have bounced on top of the Red Line (then they can sometimes go back up to the Highs quickly).
When they Fall below the Red, the nimble Traders EXIT, because they don’t want to be in it for weeks.
RH still has 96 Relative Strength, and just made a 52-week High recently, but if it struggles at the Red Line, it might go down again maybe for a “W” pattern. Please Exit if it is going to Close below Support of $55.46.
Good trading, and tell your friends!