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

Market Charts Remain Bearish

**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.**

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”  Albert Einstein

We started with a large gap higher to begin this week so congrats if you guessed at this move and guessed right.

The market charts remain bearish so locking in gains quickly remains key if you are playing this game of Russian roulette.

I’m all cash but I did take a 10% weighting SPY trade from 196.25 today and I locked in half my gains at 197.20 and the other half near the close at 197.55 and I did post that on twitter so please do follow me there @iTraderz.

SPY September 8, 2015Today’s move was on very little volume so do not expect it to last.

I’d expect a move lower now off the upper level of this bear wedge at 197.50 and I’d honestly be surprised if we don’t see a large gap lower overnight tonight but I’m not willing to bet on it.

Many stocks are showing that they are almost set to put in another low and then we can begin to build out the right side of their bases as we do remain on track to see normal

Seasonal strength through November into years end.

Have a great evening.

Warren

Filling Gaps

**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.**

“Shoot for the moon.  Even if you miss, you’ll land among the stars.”  Les Brown

Markets were weak to begin and filled a recent gap before turning higher.

The triangle pattern is getting tighter and tighter and more and more stocks are completing bases so things are starting to shape up finally.

I did some buying today for the first time in a couple weeks in selected stocks and I have pretty tight stops in place.

Let’s see if patience will pay but I’m not heavy into stocks by any means, rather, getting a feel for things since I may be able to get heavier in the near future.

May 13, 2015A good move for SPY as it continues to complete this triangle pattern.

I did buy 10% into SPY at 210.44 with stops at 210 for now so let’s see how that goes.

Have a great evening and go HABS!!!

Warren

Gap And Trap Sucks In The Suckers

**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.**

“The market is weird. Every time one guy sells, another one buys, and they both think they’re smart.” – Unknown

We saw a good sized gap open in markets and many leading stocks to open up the week.

There isn’t much to do unless you had a vision of this coming Friday and got long.  I did not, although it seems many “traders” on twitter seem to have nailed the move.

It really amazes me how clairvoyant some of the people are.

Anyhow, not much action after the gap open leaving me without much to consider in terms of trades.

August is generally a very slow month and charts are not telling me it will be any different this year so I’m watching closely for failed moves, of which we’ve seen so many this summer.

SPY August 12, 2014A nice opening gap above the 194 buy area would have sucked in a lot of people early but then we began to reverse.

As far as I can see, we are still caught between 191 and 194.

The action was pretty good today but I need to see it last and as I said, this is a weak time of year generally so it’s hard for me to get too excited yet.

Have a wonderful evening and Tuesday.
Warren

SPY Thoughts July 24

**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.**

“Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes” – George Soros

Another classic summer day that was marred by slow action.
There are some more large fast moving leading stocks reporting Thursday like BIDU SBUX CELG AMZN and more so we could see some action there but I will be away.

I’ll be traveling Thursday and away until late Monday so there will be no reports again until Tuesday the 29th.

I don’t think I’ll miss too much even with lots of companies reporting earnings.

Let’s look at some charts.

SPY July 24, 2014SPY is trying to go but sin’t getting far.

I don’t expect it to move much higher until the Russell 2000 perks up some more with the IWM move back above 116.

It remains the summer to be in cash.

Have a great evening and weekend .

I’ll be back to normal next Tuesday in terms of reports and updates.

Warren

SPY Thoughts September 11

**These were my thoughts on the SPY ETF to subscribers in my Daily Trade Ideas which includes many, many more charts and setups**

Don’t brag about yourself let others praise you. -Proverbs 27:2

Another strong day for the markets although the S&P did stall out at resistance.

I scaled out of my SPY longs here as we may need a couple or few days to digest the recent strong moves.  I’ve also sold a couple stock positions but also added one we’ve been watching for a week or so, YRCW, and it finally broke out today.  And by mean breakout, I mean up over 22% at one point.

We don’t see those types of moves often but I’ll take it!
YY, LVS, MA and others are rocking still and making myself and members quite happy about getting back into the market last week while NFLX broke $300 and was an easy buy today as well.

We’ve got so many winners on right now it’s tough.  I don’t like to have 10 positions on at once since it’s harder to keep track of but what can you do.

Let’s kick it off with the index charts, then move onto the positions I’ve got and any new buy points I see before we wrap it up with a look at gold and silver whom are breaking down as I’d suspected.

SPY September 11, 2013

The SPY ETF hit resistance and stalled.  I took my gains happily.  We may well see a few days of rest here before we continue higher.

If we continue higher now, the next resistance level is $170.

SPY Thoughts September 10

**These were my thoughts on the SPY ETF to subscribers in my Daily Trade Ideas which includes many, many more charts and setups**

Success is not to be pursued; it is to be attracted by the person you become. -Jim Rohn

A strong day for the indexes as I was looking for and many stocks are doing well.

We began to get back into the market last week really and while I’m not super heavy here it’s definitely a medium position size type of market with the odd large size if you can watch or use stops.

I’m not really looking to add any new positions here with 10 stocks on already.  I don’t like to really have any more active position on than this at one time but of course I bend that rule sometimes.

I prefer to be able to really focus and keep track of the positions I do have so I can have larger position sizes which can really move a portfolio quickly.

July was spectacular for us, then we really didn’t do much until last week and many subscribers remained in cash during that time.

Saving cash and remaining whole is and was a smart move and now we are back in while there is some easy money.

We don’t need to make money all the time, we just need to when we can, and when we can’t we need to recognize that and wait for the good times to return again.

While we’re not fully into the good times here we do have some really nice winners on at the moment.

Let’s check the index charts and then look into the stocks I’m holding and then some new buy points.

SPY September 10, 2013

The SPY ETF is working like I’d been looking for and now we may see a gap fill to the $168.70 area.  We have to see how it acts there but the clean break away from the $166 level really came into place today.
It’s not been an easy trade to say the least.  Friday I was out then reloaded and today I am glad I did.

A fall off the $168.70 area will see me booking gains if it’s on strong volume.

The low volume today has me thinking that this is a mid-correction blast which means we will likely fill the gap and then see another couple weeks of chop or correction before we get a great buy point which may see us able to hold for weeks or longer, not just days to a week as in this case most likely.