Semi Breakdown

**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 Trade Ideas to see the rest of this letter.**

“Focus on the journey, not the destination. Joy is found not in finishing an activity but in doing it.” —Greg Anderson

One more reason I’m retiring at the end of this week and month is my love of travel.

I’m heading out for one last bike ride tomorrow for the rest of the week with an old friend I haven’t seen in more than a decade so I’ll knock out this letter and blog tonight, instead of the normal Tuesday, so I can enjoy my evening away and then I’ll have one out on Thursday, for the final time.

Please do follow me on twitter @iTraderz as well as at www.wizzentrading.com where I will still do blogs when I see something special, and I’ll also be more inclusive of individual stocks since my newsletter will be closed and I’ve got nothing to hold back from non-subscribers.

We saw markets show a little weakness today along with the usual market leaders like AMZN FB PCLN GOOGL but you get the point.

That’s why Nasdaq was down so much but many other stocks are holding up and continue to look great, so far.

I remain quite heavy into stocks but am being stopped out or locking in gains as my process unfolds, although I did buy some EGO today with gold taking the turn by the looks of it.

Maybe the outline of a new range, or Darvas box as some would call it.

All good for now.

Enjoy your evening.

Warren Bevan

Turn Of Events

**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 Trade Ideas to see the rest of this letter.**

“Focus on the journey, not the destination. Joy is found not in finishing an activity but in doing it.” —Greg Anderson

More quiet action for the most part.

AAPL has been weighing down the Nasdaq a bit and had a gap fill and bottom bar Friday so if it does play out and move higher that should help the Nasdaq take a leading role, which would be great.

I also noticed a failed breakdown in BIB so we may get some solid moves in that space as well in the not too distant future.

SPY is holding above all trend-lines and from what I see, just bidding its time before moving higher.

Continued slow action is fine for now but we do need to see a new high late in the week to come or the risk of seeing a correction increases.

Markets and stocks should make new highs every 12 or 13 days in a healthy market.

Have a great weekend.

Warren Bevan

Not Much Ado

**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 Trade Ideas to see the rest of this letter.**

“Routine, in an intelligent man, is a sign of ambition.” 
– W. H. Auden

The dog days of summer are about here with not much going down in terms of stock action other than a few moving on earnings and those not moving particularly well.

Mooch was ousted after only 10 days, unsurprisingly, as Trump continues to only find “the best” talent available…

Other than the political fiasco unfolding I’m not seeing a ton of action to get involved in but

I am into some miners as well as some positions I’ve held for a week or more now.

SPY looks fine but isn’t moving one way or another.

A break under 246.50 would be negative while a move above 248 would be positive.

Family golf outing Thursday so no letter until the weekend.

Enjoy the rest of the week.

Warren

AAPL Set For A Higher Low

**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 Trade Ideas to see the rest of this letter.**

“A man who dares to waste one hour of time has not discovered the value of life.” Charles Darwin

First, my apologies as a “Renew Subscription” email was sent to all my free subscribers, please disregard, but feel free to subscribe to this full letter!

The bull market continues and stocks are acting great, along with buying and holding as a strategy.

That said, many, including AAPL, may roll over to rest a bit, and give us a higher low in this trending market.

Gold is looking fine here and moving into a trending market, to the upside which many are very happy about.

A nice chart that is trending higher for now.

Have a great night and long weekend ahead, and please do subscribe to get this whole letter.

Warren

AAPL Earnings Day

**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 Trade Ideas to see the rest of this letter.**

“Most people do not listen with the intent to understand; they listen with the intent to reply.” – Stephen R. Covey

Bit of a dip the last few days but it doesn’t look like a top to me.

We will see what the Fed has to say tomorrow but chances are slim we get another rate hike so quickly after the hike in December.

Gold is acting great and being led by silver, BUT, we do have to see what the Fed says tomorrow.

So often we see gold strong around, and after Fed speak, but the strength doesn’t last long.

That, coupled with Chinese New Year has me thinking the metals strength is suspect.
AAPL reported solid numbers and is up about 3% this evening and this should be nothing but good for stocks going forward.

SPY continues to hold onto the 21 day average well and is not telling me that any sort of correction is due.

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Have a great night.

Warren

Apple Down

 

“Men of action are favored by the goddess of good luck.” – Richest Man in Babylon

We’re still seeing lots of choppy action and with AAPL down a bit tonight we may see that continue until later in the week when we see some more big players report numbers.

We’ve got more heavy hitters like AMZN CMG V MA and GOOGL reporting this week as well as many more so good number should take use higher, of course, the opposite is also true, so we wait and see.

Miners are doing well though, and although I did stop out of my GDX NUGT and SLW positions Monday at cost I got a new buy signal later in the day so I was back in, and remain in after todays solid action.

october-26-2016SPY has a lot going on including the very bearish large head and shoulders pattern.

Until we either move above 216, or move under the 213.50 area there won’t be much to talk about in terms of this chart.

Have a nice night.

Warren

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2013’s Easiest Trade

AAPL

Wednesdays move by AAPL under the $419 level was the easiest trade we’ve seen all year and definitely one of the most profitable as the stock dropped some $20 on the day.

Put options on AAPL were absolutely a money tree.

If you missed the trade it’s ok.  There are always new opportunities on the horizon although this one was an easy one.

The trade worked so well because everybody and their dog knew about it and was ready.  Stops were right there and taken out quickly as the price cascaded lower.

I’d been telling subscribers that we had a small head and shoulders pattern forming for the past couple weeks and while some of the patterns I mentioned don’t play out, this one did.

If a pattern doesn’t work it most often doesn’t trigger my buy points so it’s no big deal, and if it does we’ve got stops at cost or a little below for safety sake.

Now.  If you’ve missed this AAPL move, it’s a little late to chase it but I’ve been talking to subscribers for over a month now, maybe even two months, that we could be getting a huge buy signal in AAPL after some more work.

We are on schedule and putting in the proper work and we need a plunge lower but the buy signal is shaping up well and should come in the next week or perhaps less, or maybe it will take two week.  Maybe it won’t come at all!

The fact is though that if and when it comes I’ll be there to profit from it and so will subscribers.  Will you be there?

I hope you have been having a great week since the last two weeks have been fabulous with the increased volatility.  If not, it may be time to consider some help.

Have a great day.

Warren