GOOGL & AMZN Moving On Up

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“A man is rich in proportion to the number of things he can afford to let alone.”  Henry David Thoreau

Another solid week for stocks who continued to act just great and as they should in a strong market such as we have right now.

I did have to sell out of GILD and take a couple dollars per share loss but all my other positions continue to work well.

The good news here is it frees up some capital to put to work in the many new buy setups

I’ll cover later in this full letter for subscribers.

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SPY August 1, 2016SPY remains in this horizontal channel which continues to imply higher prices are to come.

I’m still long SPY from 202 with a 10% weighting with 215 or so still my stop area.

Have a great weekend.


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