Markets were lower this morning but some Buying finally came in after lunch. Big Tech and Momentum Stocks have dropped hard this week as beginner investors bought Way Above the Green Line recently, and then got Flushed. Tesla lost $350 BILLION of value in a month (more than the value of Disney or Bank of America).
Some of the strongest Leaders have quickly dropped 40 – 60 % from the recent Highs, but they should pop back up at least 1/2 way when the Selling is over. Try to only Buy the Leaders that are still above the Red Lines (50-day avgs.) SNAP IWM F DISCA GE PENN GBTC FCX & VIAC are some Leaders to Buy when they return to their Green Zones.
The DOW 30 and Small Cap Indices are holding up fine, but lots of profit taking on the Leaders. We are lowering the Sell Stops on positions, as don’t want to Sell any Swing Trades until the next bounce. They should bounce up to re-test the recent Highs after emotional dumps. High Relative Strength should prevail…
We are being conservative and only Buying Signals now if the Volume is High (at least 1.25 X the 50-day avg. Volume). The better trades happen when the S&P 500 Index is also in the Green Zone (now coming down from the Red Zone).
More Money Wave Buys soon in DAY TRADING SETUPS
Bonds were up slightly, but are below the Green Line.
Crude Oil was up $2.30 today at $66.13, a New High.
BUYS TODAY 3/5/2021 NONE TODAY
JUMP START: (Buy Signal should be very soon… Click on the Jump Start link for more info.)
____________________________________________________________________________________________________________
WATCH LIST SCROLLING CHARTS (Real Time)
DDD 3D SYSTEMS (2nd Buy Signal Soon)
FCEL FUELCELL ENERGY INC. Buy above $19.12 with High Volume with a 5% Trailing Sell Stop Loss below it.
Please be patient and wait for Money Wave Buy Signals. We will email you when they are ready. Follow on the WATCH LIST.
Emotions are very high now, so please do not Buy unless you are VERY NIMBLE.
The Leaders are Way Above the Green Lines (all Investments eventually return to their Green Lines).
____________________________________________________________________________________________________________
SELLS TODAY No Stops today, please.
DDD 3D SYSTEMS CORP. LOWER the Sell Stop Loss below $23.50 until it bottoms.
RIOT RIOT BLOCKCHAIN LOWER the Sell Stop Loss below $34.88 until it bottoms.
PDD PINDUODUO This was Stopped Out last night $159.00. If you still own it , you might keep for a rally up to the Pink Line.
Please update your Sell Stops.
Click for CURRENT POSITION CHARTS – Real Time (Please check and adjust your Sell Stops).
Click for CLOSED POSITIONS,
NEW: MY TRADING DASHBOARD
DAY TRADING SETUPS
NEW: TRADE ALERTS
ARE YOUR INVESTMENTS ABOVE THE GREEN LINE?
ETF SECTOR ROTATION SYSTEM
TOP 100 LIST Updated Mar 1, 2021
Many like to Buy the day before, near the Close, if the Money Wave is going to create a Buy Signal (Closing > 20 and out of the Green Zone).
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. These have more risk.
HAVE A SAFE WEEKEND!
Related Post
– SNAP
