07/09/2017: Markets were mixed again for the week, as the S&P 500 has been hoovering Above the Red Line (50-day avg.) for 6 weeks. Several of the FAANG Stocks (AAPL NFLX & GOOGL) have Closed but their Red Lines.
The TECH Stocks are trying to hold Above the Support of the Red Lines (50-day avgs). The Leaders should re-test the Highs soon, as many Investments were back down in the Green Zones (probably too late to Sell for the Short Term).
Long Term Interest Rates continued higher this week, and the US Dollar is still weak.
MONEY WAVE BUYS SOON: We are currently in 4 logged Open Positions, There are 5 Investments are on the Short Term Watch List.
LONG TERM TRADES – The Funds below are currently out of favor, but historically could possibly Double or more from these lower levels. We are looking for a good Entry Point for these, but need the entire Economy to pick up speed:
DBC COMMODITY FUND Waiting for Break Out Above $16.08.
DDD 3D SYSTEMS CORP. Waiting for Green Zone Pull-back.
IPI INTREPID POTASH Waiting for Break Out Above $3.04.
JJC COPPER FUND Waiting for > 90 Relative Strength.
KOL COAL FUND Waiting for > 90 Relative Strength.
LL LUMBER LIQUIDATORS Waiting on a Green Zone Bounce.
MDR MCDERMOTT INT’L. Waiting for > 90 Relative Strength.
UGA US GASOLINE FUND Waiting on Break Out Above $32.03.
VALE VALE DE RIO Waiting for > 90 Relative Strength.
Click for Portfolio (Open Positions)
Click for Watch List
Click for Closed Positions
Alert! Market Risk is High (Red Zone). The probability of successful Short Term Trades is lower, when the S&P 500 is Way Above the Green Line. Even the Strongest Funds can get chopped up. Either take quick gains from Money Wave Pops, or STAY IN CASH & WAIT for a larger correction.
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I have seen some comments by people that they have enjoyed the chat.”
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