Heavy Hitter Earnings Week

**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 don’t measure a man’s success by how high he climbs but how high he bounces when he hits bottom.”  George S. Patton

More solid action as we consolidate recent gains very well.

I’m just sitting on my positions, letting them ride and bumping stops up when I can.

I’m not looking to add any new positions since I’ve got a pretty full portfolio.

Many new setups are working from my recent letters and all is good this summer.

We’ve got some heavy hitters reporting tonight and over the next few days like AAPL AMZN FB and GOOGL so be aware and reduce or sell out of be ready for a wild ride over earnings depending on your strategy and risk tolerance.

SPY July 27, 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 wonderful evening.

Warren

Sunny Days For Stocks Continue

**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.**

“Fighting for peace is like screwing for virginity.”  George Carlin

Great action from markets Friday as we continue to setup for higher prices.

It’s nice to have a good cushion in our positions and be able to let charts work and setup to continue higher if indeed that is their next move, but it sure looks like it is to me.

SPY July 25, 2016Great stuff from SPY as it remains in this horizontal channel which should soon see a resolution higher.

I’ve still got a 10% weighting of SPY in my portfolio from 202 with an eye on the 215 area for stops.

Enjoy your weekend.

Warren

Cushion

**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.**

“Always do whatever’s next.”  George Carlin

A bit of weakness today but we’ve got great cushion in our trades and I’m not seeing quite enough signs of weakness to lock in gains or reduce position size quite yet, but perhaps soon.

SPY July 22, 2016I’ve still got my 10% weighting in SPY from 202 with 215 my stop area.

I did add to my AG position which is now at a 10% weighting and I bought a 10% weighting in GOLD today so let’s see how they go.

Tomorrow is Friday so I’ll be focusing on the weekly charts which I’d like to see close strongly.

Have a great night.

Warren

Let ‘Em Ride

**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.**

“Persistence is a sure path to success with quality activities. Never, ever, ever, give up.” – Kekich Credo #75

More strength for stocks as they continue to act very, very well.

I’m still letting my stocks ride from the Brexit low, or Bro.

SPY ACIA AG AMZN FB GILD GOOGL NFLX and TSLA are still my positions but I may be starting to lock in gains in the not too distant future since I’m starting to see signs of blowoff tops coming, and then we may need 6 to 8 weeks of rest before we can setup for the next good move higher.

SPY July 21, 2016SPY is trying to break this bull flag now and continues to work well and properly.

I’ve got 10% from 202 and I’m looking at the 215 area for stops.

Have a nice night.

Warren

Falling In Love

**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 pair of powerful spectacles has sometimes sufficed to cure a person in love.”  Friedrich Nietzsche

While stock are acting great, we can’t fall in love with then and have to look at their respective charts with objectivity.

We’re moving in to the heart of earnings season now and I usually do not hold stocks over their earnings reports but the odd time I make an exception to that rule and this may be one of those times.

Stocks have to be acting very strong for me to consider holding over earnings and right now, they are.

SPY July 18, 2016Fine action from SPY as it trends higher with a steep uptrend line.

I’ve got a 10% weighting in SPY from back at 202 and I’m looking at 214.50 and 213.40 for potential stops but it depends on the overall action as to what I do but I will tweet any trade I make at @iTraderz on twitter.

Enjoy the rest of your weekend.

Warren

Working Off Overbought Readings

**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.**

“You must be shapeless, formless, like water. When you pour water in a cup, it becomes the cup. When you pour water in a bottle, it becomes the bottle. When you pour water in a teapot, it becomes the teapot. Water can drip and it can crash. Become like water, my friend.” ― Bruce Lee

Another resting/trending higher day which is working off the overbought reading we have right now very well.

The action has really been remarkable as stocks are finally acting properly so I’m still in my full positions as I’ve noted here for the past few weeks and I see no reason to exit yet.

SPY July 15, 2016I’ve got 10% into SPY from 202 with alerts now set at 216, 214.50 and 213.40 for potential stops.

Have a great evening.

Warren

Moar Strength

**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.**

”Being ignorant is not so much a shame, as being unwilling to learn.”  Benjamin Franklin

As much as I do love to travel and attend concerts and music festivals, it is great to be home after a week on the road with the bike mostly.

Summer has been super busy, as always, but it’s slowing down now, at least for the coming week.

Time to eat some strawberries and new potatoes.

If you’ve ever been to PEI this time of year you know what I’m talking about.

Stocks continue to act like champs finally, with the exception of AMZN today on prime day but it’s still holding up very well so I’m still holding it.

I’ve got a 5% weighting in AG and 10% in AMZN ACIA FB GOOGL NFLX GILD SPY and TSLA and I’d love to hold them for as long as they continue to act properly, something we haven’t seen since late 2014.

The sideways markets we’ve seen for so long were no fun but sideways action never lasts forever and it looks like we may be resuming a new uptrend in this bull market.

SPY July 13, 2016SPY continues to rock higher even though volume is certainly not exploding, but the spike low day on the Brexit vote saw massive accumulation so that may explain the lack of increased buying as we move into highs, or maybe everyones just on vacation and missing the great moves.

I have 10% into SPY from 202 and I have alerts set at 214.50 and 213.40 for potential stops.

I’ll tweet when I lock in gains at @iTraderz

The alerts are there to make me take a closer look at the action and then decide.

Have a lovely evening.

Warren