Miners Take A Beating

**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.**

“Failure is not fatal, but failure to change might be.”John Wooden

We just can’t seem to get a good breakout, yet.

Consolidation is great and tight consolidation, as we’re seeing, is even better.

I was close to dumping my mining stocks today but I’m seeing so much bearishness and short entries talk, and we’ve already fallen quite far, that I held for now since those are signs of bottoms and most miners are at strong support areas, not breakdown levels.

August 31, 2016Still stuck in this flat channel for SPY.

Not much to say until this changes.

I’ve got a 10% weighting from 202 still with and eye on 217.50 for a stop area.

Have a nice night.

Warren

ACIA Tests & Holds $100 Perfectly

**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.**

“Be so good they can’t ignore you.”  Steve Martin

The weekend ended up getting away from me and I ended up not being home so no report but the good news is stocks are acting great after last weeks mixed action.

We’re seeing some nice strength now as we move off relatively oversold levels according to my overbought/oversold indicator.

This should be a strong week and we may be able to lock in some gains later in the week according to my day-count tool.

That being said, setups are looking like this move has longer than this week to go so only time will tell.

ACIA bounced very well off the $100 level and members were well advised that $100 is an important level to watch to add or begin a new position and the stock has turned up perfectly from there already.

Many other stocks, including many mining stocks, have also tested and held key support areas.

August 30, 2016Fine action from SPY who remains in this long flat channel which is a great setup for continued upward action.

I’ve still got a 10% weighting from 202.

219.50 is the breakout level.

Have a lovely evening.

Warren

Speech, Speech, Speech!

**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.**

“Be so good they can’t ignore you.”  Steve Martin

Pretty quiet and choppy action still as we await the Janet Yellen speech tomorrow from Jackson Hole, the rocking ski resort!.

I’m not interested in any buys, or sells for that matter, until we see how markets digest

Fridays speech so there is a lack of topics to really talk about.

We are seeing support areas being tested the past couple of days which isn’t that fun, but it is a part of the trading game.

August 26, 2016SPY is holding the lower support area at 217.50 or so, so I’m holding on in anticipation of tomorrow speech contents.

I’ve got a 10% weighting from 202 still with 217.50 my stop area on a closing basis.

Have a great night.

Warren

2 More Weeks

**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.**

“Even Castles made of sand, fall into the sea, eventually.”  Jimi Hendrix

Another amazing weekend in the books with stocks continuing to setup and work their way higher.

We should have right at 2 weeks of strength left in this move before we see a deeper correction, if my day count tool is going to work but so far, it appears to be working well.

Many patterns are set to breakout shortly which would give us about a week of solid upward action where I can look to lock in some or all of my gains.

We may see quiet trading until the Fed speech Friday and that would be about the right time to see a strong breakout higher which could take us into the end of this current run which should be followed by a rest of 6 to 8 weeks.

August 24, 2016SPY is trying to breakout of this flat channel but may stay put until Friday when Yellen speaks.

I’ve got a 10% weighting still from 202.

I’ll keep stops at the 217.50 area for now.

Have a wonderful evening.

Warren

The Tragically Hip

**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.**

“Maybe we’re born lost,born to persevere”  Gordon Downie, The Tragically Hip

More strong action from select stocks with others mostly holding up well.

Oil showed strength today so their respective stocks did as well while precious metals miners also showed a nice quick spike low and seem to be moving higher already.

All in all, we remain on track to finish out August strong before seeing a deeper correction into late October and then we can get serious again on the long side, if it all goes to plan.

I’m away this weekend so there will be no letter until Tuesday again most likely.

I’d be remiss to not mention one of the greatest Canadian rock bands of all time, The Tragically Hip.

Our local hero, Gordon Downie, was diagnosed with a terminal brain cancer earlier this year.

I’ve been privileged to see The Hip twice and they are an incredible band to see live.

Despite this terminal diagnosis, Gord, and the band, decided to do one last tour this summer.

The final concert is this Saturday from their hometown of Kingston Ontario, in an intimate 6,000 person rink.

The concert is thankfully being broadcast live on TV and the internet and Canada is going to shut down Saturday night and all come together for what will be one of the most memorable events in this great countries history.

It’s sure to be a tear jerker and the boys are going to tear down the house.

I’ve been looking forward to this event all summer long and I’m getting together with a couple hundred of the best folks around and we’re going to get rip roaring drunk one last time for The Hip and project the show onto a barn far out in the country where we can sing and dance and cry all together all night long.

Cheers to The Hip, the band we all grew up together with.

August 19, 2016A solid day for SPY after bouncing off the 21 day average well.

Looks like we continue higher from here.

I’ve still got a 10% weighting from 202 from the Brexit spike low.
217.50 on a closing basis remains the area I’m eying for a stop for now.

Have a lovely evening, a solid Friday and a rocking weekend.

Warren Bevan

Two’s Not Enough

**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.**

“Face reality as it is, not as it was or as you wish it to be.”  Jack Welch

They say 2 Fed officials pushed for a rate hike in the most recent meeting but I don’t think we are ready for another market upset, which is inevitable if rates are raised anytime soon.

Stocks were mixed to strong with ACIA continuing it’s winning ways with a strong pop late in the day.

We bought it not long ago at $38, so with only 1,000 shares you’d be up $77,000 already which is incredible.

Become a member to my full letter at www.wizzentrading.com to get the buy points in those types of stocks when we have the right markets and to keep you safe when we don’t.

August 18, 2016SPY held the 21 day average perfectly today and is still poised to continue higher before we see a deeper correction.

I’ve got 10% from 202 with 217.50 still a stop area and I’m trying my best to let this be on a closing basis.

Enjoy your night.

Warren

TWLO & ACIA Take The Gold

**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.**

“Control your own destiny or someone else will.”  Jack Welch

More great action from stocks, and that allows us to be away from the office this summer and let stocks work with an eye on the phone every couple of hours.

TWLO and ACIA remain on absolute fire and we’re lucky enough to be in them.

I’ve been tweeting any trades I’ve made for free on twitter at @iTraderz so be sure to follow me there.

I’ve got a lot of new setups to get through tonight in the full letter so let’s get right to it.

August 17, 2016SPY looks good to me, and in terms of day counts, we may be able to squeeze out another three weeks of strength before we have to lock in gains while we take 6 to 8 weeks to correct before we move into the seasonally strong fall period, but time will tell on all those fronts.

I have a 10% weighting still from 202 with 217.50 or so my stop area.

Have a wonderful evening.

Warren