I've been watching this timber REIT and it's had a nice pullback to a very big support level. Technically the CCI suggests it could bounce strongly from here, while a stop is relatively close by. I managed to sell some at higher levels and am getting interested in buying again. Fundamentally, it's a long term candidate because - We are in a macro environment...
As hard as it is to believe with nCoV on the loose, price action suggests the S&P wants to rally higher. AMZN's earnings will also boost the market and tomorrow is shaping up to be a strong, Gap & Go day. It's becoming harder and harder to take longer term positions in anything, because fundamentals just don't seem to matter. I was watching the action and the...
Getting pinched hard on my KL position but will hold on tight. KL is showing a tail and trading completely outside its Bollinger Bands. Historically, that's been a good entry. I have been in spots like this in this name before. It really is darkest before dawn. That long term chart, I don't think is a lie.
Flipped some spare VET to BTC a few days ago. It's looking good so far, but I just noticed this flag breakout and backtest is formed today. Lots of alts are moving too. This is a longer term play. Short term, crypto trading is a nightmare.
Nice wedge consolidation could be close to resolving. When ROKU wants to move, it can move FAST. Did anyone else see TCL's offering at CES 2020? They are seriously bringing it with miniLED. Their TVs come with Roku's OS.
In the wake of heightening middle east tensions and another record govt deficit, what could go wrong with long defense stocks? I see a bull flag in RTN, and the fact that LMT already broke out of a bull flag suggests RTN could follow. Besides, everything is going up so why not? Not exactly hard to find long ideas in this market.
Looking back over the last few weeks, it's clear that foreign stocks have been the safest, best play to take advantage of looming dollar inflation. I should have bought and held countries with accelerating growth, like Russia (RSX) and South Korea (EWY). Hoping at some point in the next month or two I get a good buying opportunity in either one, probably to ride...
One of my gold miner positions. Chart looks fine after this pullback.
Since my earlier posts and analysis on RSX, it has turned out to be a MONSTER run. Even I remain under-invested in RSX. My mistake, this was not a good name to trade in and out of. Even though I suggested it, I couldn't take my own suggestion to BUY and HOLD this. I'm at a loss wondering if this will pull back, but be patient I must.
Interesting pump into the close, almost exactly like last time. Will it drop, or will the larger bull flag break out? Or both? I think it is a BUY here with tight risk management.
I added to my CNQ in the morning. I think it wants to test the monthly trendline in the 34.50 range. Then it could take a break for a few weeks/months, and respond to what the macro data is doing then. Keep in mind it pays dividends so the chart isn't even adjusted for that, actually much better total returns over time than this chart would suggest. It is such...
Buying Energy (XLE XOM CNQ CVX) this morning is a big win for me. I expect the rally to continue. But check out this RRC chart how much cleaner can it get? Precise bounce at downtrend line, in a bull flag, at the 50ma. Buncha technicians will probably chase this one up.
They've figured out a nice money making machine with the combination of: - Low float - High short interest I've been watching them push the stock around with massive option buying and forced dealer gamma hedging. And as long as the Fed is printing new money, these games can go on indefinitely. TSLA probably pauses at 500 but that may last only a day or week. ...
Textbook cup and handle, nicely isolated on the chart by the huge gap too. I did manage to add to TWTR longs in the dip, but am now wondering if I added enough? For god's sake, I'm getting Iran war updates via twitter. It's ridiculous how much twitter is used by anybody who is important.
Nice hold in the support zone today. I'm thinking we continue to trade mostly sideways until the wedge breaks. After that, a backtest isn't out of the question. Longer term, I think we'll see new highs. I believe Disney will continue to surprise on Disney+ subscriber numbers.
My four favorite long stock ideas all closed the week on a near-term support level. As uncomfortable as it was on Friday bearing a drawdown in XLNX, I haven't stopped out because this is a significant support level where buyers may come in. I was feeling really good after adding near the close Thursday, with very strong closing action in XLNX. It just shows...
This company is the "twitch" of China and has some decent fundamental footing. With the dollar weakening and China easing this one could play catchup to the rest of the Chinese tech sector. It certainly is at long-term lows, maybe worth watching if today's strength begins to see follow through.
RSX has been a great long that I had sold too early. That said, I think the risk/reward no longer favors being heavily long here. The USDRUB is falling in a nice channel but may need to reset its momentum here. A few days / weeks of consolidation would make a great re-entry for RSX or SBRCY. If you've got long positions for the dividend I wouldn't rule out...