Back On Track

**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.**

“Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself.” – Jalaluddin Rumi

Stocks staged a nice comeback after the first presidential debate  Monday evening.

I continue to see stocks acting great, as they should, in a bull market.

I bought some PI today at 34.85 with a 10% weighting and that is rounding out my holdings nicely as I don’t have a lot more I can buy.

I’ve still got long positions in ACIA, AMZN, BABA, KERX, LITE MOMO, REN and TWLO.

I’m focused on fast moving leading stocks and this list is pretty solid and there are a few more I am interested in and will get into later in tonights letter.

september-28-2016Not bad stuff from SPY who should be fine as long as we remain above 214.

I’m heavy into stocks and well into my margin now.

Have a nice night.

Warren

Rally Caps

**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.**

“I’ve failed over and over and over again in my life and that is why I succeed.”  Michael Jordan

Friday was nothing to write home about but breakouts still look great and we should now continue to rally through the fall.

I was looking for a weak market into fall but it’s not here, so I adjust and just react instead of sticking to my “prediction”.

That’s why I try not to predict, rather, react to the action.

It is, what it is, as they say, not what you want it to be.

september-26-2016SPY backed away on Friday but let’s see what Monday brings.

This market looks strong and I am quite heavy into stocks already after several buys.

The week ahead looks to be a fun one, enjoy!

Warren

Throw A Dark Market

**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.**

“He who hesitates is poor.”  Mel Brooks

We are now moving nicely higher, but just beginning this move most likely.

This looks to be a throw a dart market which means pretty well all stocks are going to rise and do well.

What I have to do is find the ones who move fastest and act the best for myself and subscribers and so far, so good.

september-23-2016Great stuff from SPY who looks set to move into new highs anytime now and follow the Russel and Nasdaq who are leading.

Enjoy the evening.

Warren

Stocks Breakout On Expected Fed Move

**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.**

“He who hesitates is poor.”  Mel Brooks

The Fed did nothing as expected, but they are signalling a rate raise after the elections, likely in December, as is the only strategy that makes any sense at all.

Biotech stocks are on a tear once again after a spate of mergers or buyouts, so that and miners are the main sectors to be focused on for the time being from what I can see.

That said, we often see gold move up on Fed news only to see the move faded so I’d keep stops tight in any metals related trades for at least a few days.

I am still calling out my trades on twitter for free @iTraderz so be sure to follow me there.

I usually open up a paid section in the fall where I give my trades live and I may have to open that service up very soon if strength is coming early.

september-22-2016SPY looks to be breaking this bear flag pattern and about to rip higher now instead of taking a month or two off as it often does this time of year.

Strength into elections does make sense and looks more probable.

Enjoy your evening, I plan on getting aggressive with stocks right away.

Warren

Trading vs Trending

**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.**

“People will do almost anything to stay in their comfort zones. If you want to accomplish anything, get out of your comfort zone. Strive to increase order and discipline in your life. Discipline usually means doing the opposite of what you feel like doing.” – Kekich Credo #1

Lots more chop Friday as we enter a normally 6 to 8 week period of weakness.

Letting the charts really setup is great for a year end run.

I am seeing a few long bases that may begin to move soon while many stocks could use some rest.

There are also some shorts I’m looking at!

Basically, we should be back into a trading, not a trending market, so I’ll be swing trading again.

September 19, 2016SPY looks set to break this bear flag and move lower.

Rest is due and good.

Enjoy the last weekend of summer.

Warren

Stocks Trigger A Selloff

**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.**

“People will do almost anything to stay in their comfort zones. If you want to accomplish anything, get out of your comfort zone. Strive to increase order and discipline in your life. Discipline usually means doing the opposite of what you feel like doing.” – Kekich Credo #1

I do not like the action we’ve seen lately and especially since last Friday.

I sold just about everything today to lock in some amazing gains, and a few losses, as I detailed on twitter today @iTraderz

We can always buy stocks back but mid-September until November tend to be poor months in the market so it may be a good time to take a little trip and enjoy the fruits of the profits we’ve just locked in.

september-15-2016SPY looks to want to roll over further.

I thought we’d get a rip higher before the seasonal weakness kicked in but that’s what I get for thinking.

We just have to interpret the charts and act without emotion.

I’m looking for short positions as they come but not going to push my luck and I am already short HCLP.

We had a great run, and likely will again into years end, but 6 to 8 weeks of setup is certainly due before that so I’m not looking for a crash.

Shorting will be limited to excellent setups and action.

Enjoy your night.

Warren

Lots Of Broken Charts After Friday

**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.**

“Confine yourself to the present.” Marcus Aurelius

Friday saw some serious selling take hold and I had to do some myself.

Once it became apparent in the last hour that stocks were not going to make a comeback and close the day and week on a positive note I had to decide which ones to sell.

I sold my 10% weighting in SPY from $202 at $213.88 which isn’t great considering it was up at 220 not long ago.

I sold my 10% weighting in FB at $127.65 from my $112.50 entry which is solid.

I had to sell my 10% weighting in NFLX at $96.73 from $87.75 for so, so gains.

I had to sell my 15% weighting in HCLP at 15 from my 14 entry for not bad gains since it is showing a major top bar from Thursdays action.

I even shorted 5% in HCLP at $15.65 since it looks to have topped.

I sold my 10% weighting in GOOGL at $790 from my $688 buy for swell gains.

I’ve still got a chunk of stocks but they may or may not be sold early next week if this weakness continues.

september-12-2016I had to sell SPY today.

I really was looking for strength in the last hour but it never came so that tells me we’ve got more downside here.

That said, some stocks should hold up very well but I’m definitely got an eye out for short positions when I’m looking at charts all of a sudden.

Enjoy your weekend.

Warren