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

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

“Over my 50 years in business I have learned that if I rise early I can achieve so much more in a day, and therefore in life.” – Richard Branson

The inauguration came and went, followed by massive marches and demonstration against the new President, but stocks continue to hold well.

If they can’t fall today, then when will they?

I don’t see any reason why we won’t see this bull market continue so buying dips is the strategy to follow, in the best stocks of course.

The best markets are when we see early weakness followed by strength into the close, and we are seeing that.

My apologies for not getting a precious metals letter, nor blog, nor Trade Ideas out on the weekend.

I felt it coming Friday and by Saturday the flu was strong.

Sunday wasn’t much better but after a weekend of rest and taking care, I’m just heavily stuffed up and back to near normal.

It amazes me every single time just how debilitating and achy it is.

No fun!

Nothing wrong with this SPY chart who’s holding the 21 day average and uptrend line while looking set for more upside with a reverse head and shoulders pattern pretty clear now.

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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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Never Short A Dull 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.**

“Life must be lived as play.” – Plato

A pretty slow day but we did see some nice moves out of GOOGL and NFLX and we locked in some nice options gains there but EYES and BIOC were off hard and showed me losses.

I didn’t really do much at all today but things remain strong and setup for higher.

The more people calling for a crash and lower prices the better.

It is when we have everyone on the same side that I will be worried but that is far away yet.

SPY February 27, 2015SPY was shaky out of the gate but then came back to close the day nice and tight to the past few closes which is great.

Again, never short a dull market and today’s was quite dull for the most part but we are ready for a nice push higher anytime now.

It’s been weak early in the week and strong into the end lately but we may see that change next week.

It’s just a hunch I have.

One more day and it could be a fun one before we get to relax on the weekend.

Warren

Back To Ca$h

**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.**

“Action is the real measure of intelligence.” — Napoleon Hill

We went to an all cash position today after doing much selling the past two days unfortunately but that’s the way the cookie crumbles.

Things looked and acted so great last week but it didn’t last long.

I wouldn’t change a thing I did since once things begin to behave well and I notice, I go heavy but I’m always ready to lock in gains or take losses while they remain small and that is what I did yesterday and today.

We avoided any real damage and booked some really nice gains in a few.

We can’t always have our cake and eat it too and surviving until we can, is a major key to trading.

Charts are sloppy now and markets seem to want lower but with several large earnings coming out tomorrow, both before and after the bell, like BABA BIIB GOOGL ALXN AMZN and CELG this could all change to positive again.

The thing is, as we saw with NFLX earnings and AAPL earnings now which were great, the effect won’t last long most likely.

That just means, we can make great money, but we do have to do so quickly and not get too greedy.

We have to identify support and resistance levels on the 15, 30 and 60 minute charts and use them to our advantage and be quick.

I’d love to buy and hold as much as Warren Buffet but this market won’t let me so I won’t.

As for the new round of real-time service, I’ve had the flu for nearly a week now and I’ve not really had any energy to devote to getting things ready so I’ll likely continue this term of it for current subscribers for an extra week and begin the new term a week late.

More info once I regain my strength, hopefully tomorrow…

I’m not old by any-means but man its zapped me.

SPY January 29, 2015FB just beat on earnings but isn’t doing anything special here yet.

SPY very well could be on the cusp of breaking this large head and shoulders pattern which would target a move down to 192.50 or so.

We are right here at the breakdown level and a move under 200 is a short signal but as I said above, with many big hitters reporting over the next day or two, we may bounce for a while yet if numbers are good as I expect.

It’s a bit of a jumble right now and that is rarely a good thing.

Have a restful evening.

Warren

Ya Baby!

**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.**

“Never let your memories be greater than your dreams.” ~Doug Ivester

A nice quite Friday again while stocks and markets are still acting positively.

Next week will be very telling.

We need this strength to continue and we have some big earnings numbers coming from heavyweight leaders like AAPL and GOOGL so it could get pretty fun if all stays as it is.

SPY January 26, 2015Fine stuff from SPY that looks to be heading to 207.50 right away.

This uptrend is just beginning and dips should be bought until they stop working.

I’d love to see a few months of great action but only time will tell.

So far so good though and I’m still heavy into stocks, something that I haven’t done in a long time but I’d like to remain heavy for months.

We didn’t have the best close Friday but that is fine for now but something to keep an eye on.

I prefer to see strong closes and I’m always ready to sell or reduce if I see weakness appear.

Have a wicked weekend.

Warren