May 20th my GDX short position
I'm currently short on GDX based on technical analysis. This chart shows Head & Shoulders pattern (bearish) on the 4 HR time frame. I used the pop in the stock price to buy puts cheaply. Note the decline in the Money Flow Index, the MACD also gave a bearish sell signal
Riddle solve to spy reaching All Time HIghs
Best Trading Week of my Career
This has been an unbelievable week as I've made epic gains for my personal trading account. My Twitter & StockTwits followers have also enjoyed in my success. To recap some of my trades this week included $vrx, $jnug, $jdst $gdx . I really appreciate all the feedback that was given.
This week was also a stressful week as I stayed up and worked 18-20 hour days reviewing charts, trading, socializing with other traders. The biggest headache this week was following oil from 11pm-2pm at night, then waking up around 630am and opening the laptop to catch the pre-market vibe. You know its bad when you go to bed thinking about stock charts, patterns, are we going to raise rates blah blah. Gold has been on decline, but many retail investors are so easily lead down the wrong path. However, Gold still provides you w/ a great trade to make money. I'm currently just scalping Gold miners, not going long.
$vrx, was a good trade not my investment. It was my "Breakout Stock of the week" Sunday May 16th that I posted it. $jdst still remains my breakout stock of the week as I never took the post down, it's still up. Today May 20, $JDST broke out of a descending triangle and provided a nice scalp opportunity. I was able to get in below $17.80 sold it at $18.74, it dip again Intraday however, I waited to buy it again once it broke $18.87 then sold it above $18.50
This week was also a stressful week as I stayed up and worked 18-20 hour days reviewing charts, trading, socializing with other traders. The biggest headache this week was following oil from 11pm-2pm at night, then waking up around 630am and opening the laptop to catch the pre-market vibe. You know its bad when you go to bed thinking about stock charts, patterns, are we going to raise rates blah blah. Gold has been on decline, but many retail investors are so easily lead down the wrong path. However, Gold still provides you w/ a great trade to make money. I'm currently just scalping Gold miners, not going long.
$vrx, was a good trade not my investment. It was my "Breakout Stock of the week" Sunday May 16th that I posted it. $jdst still remains my breakout stock of the week as I never took the post down, it's still up. Today May 20, $JDST broke out of a descending triangle and provided a nice scalp opportunity. I was able to get in below $17.80 sold it at $18.74, it dip again Intraday however, I waited to buy it again once it broke $18.87 then sold it above $18.50
May 18th 50% Minimum Move in $JDST Coming From the Reverse Split & Gold Correction (Short Term Target $1160)
After the 50% move, I plan on writing Cover Calls which should easily generate me another 10%-15%
minimum.
Historically, Reverse Splits have shown to give some gains as much as 18%-25% to a position after the split. My two charts will illustrate my point of view.
Feel free to visit my comments on the $JDST thread on StockTwits.com , my username is TradingOffTheCharts
I've updated my Breakout Chart of the Week list w/ $JDST after providing you $VRX Valeant Pharmaceuticals on Sunday Night. Please visit my Breakout Stocks page.
May 17th Scaled into $LABD (3x Bearish Biotechnology ETF) short Term Target of $60 by Mid June
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| $LABD initially thought on Monday 5/16 that a H&S was forming, how quickly you have to adapt. I believe we are now looking at an Ascending Triangle. As we get closer to June. I will revisit the chart, and draw two set of parallel lines which should be trending upward creating both a Higher High and Higher low pattern, which should be clearly visible to the eye. I elected to not draw those patterns now to avoid a Messy chart. |
May 17th Bearish on Gold til a break of $1298. Anticipating a decline in Gold Stocks, ETFS ($XAUUSD) $GDX $JNUG
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$GDX- Bearish Chart failed retrace of prior highs. Notice the previous
confirm sell signals. It needs to breakthrough this range w/ conviction.
The presence of the Red Ichimoku Cloud doesn't help my confidence.
I anticipate $GDX will fall back into the yellow channel.
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| $GDX, Now at 2014 confirm sell signal level & appears to be retracing |
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| $GDX Monthly Chart showing H&S pattern w/ bearish Red Ichimoku Cloud |
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| $XAUUSD, Extremely Bearish if Gold can't break $1280. There was a confirm
sell signal, then a fail retrace of the prior high. Their is yet a 3rd retrace a
3rd retrace unfolding from 5/16/16 morning high. If gold fails to break
$1280 it would signal a sell signal & a retrace lower . I'm a buyer of Gold
$XAUUSD $GDX $JNUG once Gold clears $1280 w/ conviction. My buy
price is $1298, i'm bearish until then.
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| $XAUUSD- chart just shows another bearish veiwpoint |
Biotechnology & Healthcare Sector on watch for Week of May 16
This week i'm focusing my attention on the Biotechnology, Pharmaceuticals, & Healthcare sector. With many companies seeing their market cap slashes as much as 50%-80%, how much more can this sector take? The S&P 500, and the rest of the market started to show cracks in the infrastructure recently. To make matters a lot of shorts have piled onto and already very heavy shorted sector. Take Valeant Pharmaceuticals for example, 30% of its floating stock is currently short. Being the contrarian that I am, In my opinion this could be the perfect "Bear Trap" for a massive short squeeze.
Lets review the charts of both LABD & XBI to further illustrate my point.
Lets review the charts of both LABD & XBI to further illustrate my point.
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Weekly chart of XBI is very bullish. 3 indicators along w/ a Green Ichimoku Green Cloud
points to this. You can visibly see the Green Ichimoku cloud now acting as support. The green
dotted line, is the money flow Index (white circle) its currently over sold.
A breakthrough would be very bullish for XBI & the Biotechnology Sector. The Macd is potentially setting up for a bullish corss over (blue dotted)line (white circle). The bottom indicator is the Stochastic RSI which already bottom, and now showing signs of like
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Daily chart of LABD, which is a Bearish 3x leverage etf. It is designed to take
advantage of bearish activity for the Biotechnology sector (declining stocks). Like I said earlier
in my post, majority of companies/stocks have already seen their market cap slashed in half, some even faced bankruptcy, others were forced into mergers. However, the trend appears to be changing.
We are now seeing a Bearish Technical Pattern on a Bearish 3x leverage ETF, which has me bullish for this overall sector. This pattern you areviewing is a Head & Shoulders pattern. Notice the 3 white circles. I'm currently focusing my attention on the right shoulder, as the left shoulder and Head have already formed. Keep your eye on XLV, XBI, Pharmaceuticals companies this week for a potential turn around, as this sector could turn possibly bullish.
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VXX Attempting to forming a Double Bottom
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| The VXX is attempting to form a double bottom going back to August 2015 flash crash. The yellow line shows support at both past levels and current levels of the Macd, Money Flow, and share price. VXX 52 wk hi is $31.41 in which it 2x reached in August 2015, and January 2016. If this is a double bottom on the VXX we could very well take out the 52 week hi of $31.41 |
$spy Confirm Sell Signal on Daily Chart
Here are a list of Bearish Charts of the S&P 500 & SPY all showing sell signals.
1) Chart shows a Daily Sell Signal
1) Chart shows a Daily Sell Signal
2) Chart is a chart of the SPX500
3) Chart is showing a Bear Flag on Spy
2016 Stock Market Crash
There were advance warning signals prior to the 2007-2008 Financial Crisis / Housing Bubble. One key indicator SPDR KBE Bank ETF. I also worked in Mortgage Banking for 10yrs servicing loans, underwriting and asset Management. Take a look at the chart. Notice the sell signal on the monthly along w/ my other notes. I'm hedging w/ gold & silver along w/ my put positions.
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