goodguy

PRO
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Joined USA
Markets Allocation
51 % stocks 18 % indices 5 % commodities 26 % other
Top Mentioned Symbols
USOIL 21% | 48 IWM 13% | 31 DXY 11% | 26 SLV 5% | 13
goodguy goodguy PRO USOIL, W,
USOIL: Any bullish hope for oil?
153 0 6
USOIL, W
Any bullish hope for oil?

As you can see from the daily chart there is still a change we are in a sideways triangle prior to another rise. Need some up action soon for this to hold.

goodguy goodguy PRO IWM, D, Short ,
IWM: Going short IWM
58 0 5
IWM, D Short
Going short IWM

Follow up from previous post ( see link). IFFFF correct we have a "c" wave ahead of us. They can be fast and furious. If wrong my stop is a close > than recent high (dashed horizontal line on daily chart ). Bearish engulfment candle on daily. Increasing bearish diverge on weekly RSI . If black uptrend line broken may add to position. Take care

goodguy goodguy PRO NG1!, D,
NG1!: Closed my short on natural gas.
334 3 8
NG1!, D
Closed my short on natural gas.

Had a position in DGAZ which has done well. NG may drop more but I deciced to take profits after relooking at the chart. Here is another posible course and count as compared with previous post (link below). Take care.

goodguy goodguy PRO NG1!, D, Short ,
NG1!: Shorting natural gas.
177 0 6
NG1!, D Short
Shorting natural gas.

Follow from recent post. In the last 3-4 days NG made a .62 up correction from recent drop. Today has started dropping again.

goodguy goodguy PRO NRZ, D, Long ,
NRZ: NRZ: one to consider for your IRA
24 0 4
NRZ, D Long
NRZ: one to consider for your IRA

Chart looks encouraging me to. Dividend 48cents/quarter= yield of 11.88%. Personally I am using a close < 14.89 as my stop. Take care. Have a good weekend.

goodguy goodguy PRO NG1!, D,
NG1!: Natural gas: More correction ahead?
134 0 8
NG1!, D
Natural gas: More correction ahead?

This is a f/u from my February post (link below). At that time price dropped to just above target I had at that time. There has been a decent rally since. The form of the recent rise looks corrective to me. And now there is a negative reversal followed by a bearish divergence in the daily RSI. Natural gas has been down now for 2 days to the up-trend line. If trend ...

goodguy goodguy PRO NE, W, Long ,
NE: F/U on NE:  has oil drilling finally come to life.
51 3 8
NE, W Long
F/U on NE: has oil drilling finally come to life.

RIG and NE both up quite a bit today.

goodguy goodguy PRO CL1!, 120,
CL1!: Crude Oil: will know soon if correct idea.
150 1 7
CL1!, 120
Crude Oil: will know soon if correct idea.

IFFF we are at e= B as the end of a large consolidation triangle then price will stay above "c". Looking for positive candlles and break of near turn down trend line to go long.

goodguy goodguy PRO RIG, D,
RIG: RIG hits my down target. Time to finally turn around?
93 6 8
RIG, D
RIG hits my down target. Time to finally turn around?

End of March I suggested a down target for this drilling company (see link below) which has now been reached. RSI oversold still with a positive reversal. Waiting for bullish candles.

goodguy goodguy PRO IWM, D,
IWM: IWM: IF at first you don't succeed
90 2 6
IWM, D
IWM: IF at first you don't succeed

Although I was stopped out on my last post on IWM (see link) I have not given up on my original idea. It still looks like a great place for a reversal. May still get a little more advance to 144-145. (where D=2x B ) Process your own way. Watching for a reversal pattern.

goodguy goodguy PRO DXY, D,
DXY: DXY: US Dollar Index drops below up trend line.
28 0 7
DXY, D
DXY: US Dollar Index drops below up trend line.

Starting down again today. Eventually may help support price of metals and oil.

goodguy goodguy PRO GDX, 120,
GDX: Planning ahead. current ideas about GDX
141 0 6
GDX, 120
Planning ahead. current ideas about GDX

My previous post on GDX (see link below) worked out well. The big question to me is whether we are making a sideways consolidation now such as a triangle or will there be a "c" wave down to close gaps around the 19.40 level. If a triangle is forming it could turn up at in drawn target box. Personally I will wait for a bullish candle formation on the daily and ...

goodguy goodguy PRO NE, D, Long ,
NE: NE:  Looks good on paper.
80 2 6
NE, D Long
NE: Looks good on paper.

NE is in the oil and gas service sector which has suffered of late. Still in a downtrend but I think the move up at the end of 2016 (labeled 1 or A) may well be followed by at least one more up move to 3 or C. May get a drop tomorrow to c=a on the dialy chart. Watch closely for a bullish candle formation then could use the low of the formation as a stop. . ...

goodguy goodguy PRO IWM, D, Short ,
IWM: IWM: are we in an expanding triangle?
85 2 11
IWM, D Short
IWM: are we in an expanding triangle?

One of the hardest formations for me is an expanding triangle. You keep getting new highs, then new lows, then new highs, and so on. But if you look at the daily chart we have had a lot of sideways action since the start of 2014 with just that kind of pattern. Also volume tends to contract toward the end of the triangle likely because folks are "confused" as to ...

goodguy goodguy PRO GDX, 120, Long ,
GDX: Short term play in gold miners: GDX
175 4 12
GDX, 120 Long
Short term play in gold miners: GDX

Could be one more drop but should stay above 22.57. Then likely rise to target box.

goodguy goodguy PRO ETP, D, Long ,
ETP: Crude Oil: Still feel quite positive.
40 0 5
ETP, D Long
Crude Oil: Still feel quite positive.

We had a great run up in oil at the first part of 2016. Now we are in sideways-ville. If you looked at my long term posts from last year you know I think we are likely in a long term consolidation phase. To me the charts above look developing or possible completed triangles. In a a-b-c up correction it is not unusual for the "b' wave to be a sideways triangle ...

goodguy goodguy PRO KBH, W,
KBH: Another one I'm watching: KBH
27 0 4
KBH, W
Another one I'm watching: KBH

This company is making a bounce back. The "Street" Rates it a buy with at target of 25.36. This is the same area I get from the daily chart. But I notice the daily RSI is in the overbought area with a small bearish divergence. Price is also at the mid line of the larger up channel. So I am looking for some pull back before I personally commit. For myself I would ...

goodguy goodguy PRO IVZ, D,
IVZ: One to keep an eye on: IVZ
16 0 5
IVZ, D
One to keep an eye on: IVZ

When a long term down trend line (weekly chart) is broken and returned to and provides support (weekly chart at "2" it can be a sign of positive things to come. Point 2 is near the start of the daily chart. Just looking at the chart pattern on the daily chart I favor there may be one more down move before the correction ".2" is over. Maybe not. Personally I am ...

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