Stocks Trigger A Selloff

**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.**

“People will do almost anything to stay in their comfort zones. If you want to accomplish anything, get out of your comfort zone. Strive to increase order and discipline in your life. Discipline usually means doing the opposite of what you feel like doing.” – Kekich Credo #1

I do not like the action we’ve seen lately and especially since last Friday.

I sold just about everything today to lock in some amazing gains, and a few losses, as I detailed on twitter today @iTraderz

We can always buy stocks back but mid-September until November tend to be poor months in the market so it may be a good time to take a little trip and enjoy the fruits of the profits we’ve just locked in.

september-15-2016SPY looks to want to roll over further.

I thought we’d get a rip higher before the seasonal weakness kicked in but that’s what I get for thinking.

We just have to interpret the charts and act without emotion.

I’m looking for short positions as they come but not going to push my luck and I am already short HCLP.

We had a great run, and likely will again into years end, but 6 to 8 weeks of setup is certainly due before that so I’m not looking for a crash.

Shorting will be limited to excellent setups and action.

Enjoy your night.

Warren

Setup For Higher

**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.**

“Money can’t buy you happiness, but it can buy you a yacht big enough to pull up right alongside it.”  David Lee Roth

A good start to this holiday shortened week with stocks holding or moving up a bit and markets are also consolidating nicely where they should, before seeing more upside.

I bought a good chunk of AMZN late today and I’m not really looking for many or any more stocks for the time being.

That said, I can be all back to cash if this consolidation begins to fail.

SPY November 24, 2015Nice stuff from SPY on a low volume consolidation day.

All good and clear for higher prices from everything I’m seeing.

Enjoy your evening.

Warren

Markets Holding But Not Breaking Out Yet

**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.**

“Improvement begins with I.”  Arnold H. Glasgow

A pretty quiet end to the week and month but we still look ready for upside very soon.

Let’s see how the first of the month begins but new money is coming into the market so we should see some nice moves right away now.

That said, we did see a decent and fast correction at the beginning of May so I have to be ready to be reducing or selling out of my positions if I spot that type of action.

June 1, 2015SPY looks like it wants to roll over here but it is holding above the 211 breakout level so that is positive and means I’m staying long still.

I just have to see how this action develops and play it as such but I’m heavy into stocks right now and sitting on some decent gains and I do not want to see those disappear.

Have a wonderful and restful weekend.

Warren

Stocks Say It’s Breakout Time

**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 greater danger for most of us is not that our aim is too high and we miss it, but that it is too low and we hit it.”  Michelangelo

A great day for stocks including CLVS that we bought early today down at the 86 area and it is acting perfectly, as you want to see when a stocks breaks above a buy point, but that has been a rare event as of late so it’s a nice change.

Closing strongly and above $100 is so nice to see and on massive volume.

Markets are acting great and near highs in the case of the S&P and Nasdaq and the

Russell is trying to move back above a key level as well.

As I’ve said here, I have been in cash for a few weeks and began to buy back in this week and then more today and now I’m in the market with a decent size already.

We may just be starting this move, or it may fail and I’ll be quickly back to cash but so far it seems like our patience is paying off well, doubly so in the case of CLVS!

There is only 1 month left in my real-time trading service so it’s only $100 now and that includes any buy or sells I make sent to you in real-time via email, twitter and text message and it also includes the full version of this report where I delve into many stocks beyond the free blog portion where I talk about the SPY ETF only.

Everyone payed for their subscriptions today in spades with CLVS.

SPY May 15, 2015SPY is close to going and it needs to clear this 212 area on heavy volume and stocks are telling me it should happen very soon so let’s just see.

Have a great long, but never quite long enough, weekend.

Warren

Aaaaaaaaaand, Chop!

**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.**

“Establishing goals is all right if you don’t let them deprive you of interesting detours.”  Doug Larson

And down we go.

Nothing but more and more choppy action that usually does lead to downside but until we do break lower, chop will remain.

I’ve been in cash and remain in cash and that’s that until trend rears its head.

SPY May 6, 2015SPY could just never get any real traction higher with any volume as I’ve been talking about and it fell hard today on decent volume.

We still do remain in this large triangle pattern I’ve shown here daily for quite some time now but hopefully, this pattern will break soon since it’s getting tight and has to do something relatively soon.

Have a great night.

Warren

Confirmed Breakout

**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.**

“Courage is the discovery that you may not win, and trying when you know you can lose.”  Tom Krause

A great day with a capital G.

Stocks broke out en masse after the Fed news and continued strongly along with markets.

Usually we see sharp moves up and down after Fed talk but this time it was just straight up.

I did some more buying and most of our stocks are doing well and just beginning to breakout in most cases.

We did have to book gains in ADXS unfortunately today at the $11.75 level from our buy at $8 a few weeks ago.

Great gains no doubt but I thought we may see more upside with markets and stocks starting to trend higher now.

Anyhow, them’s the breaks.

The metals also really took off hard today after starting to break lower Tuesday but gains on Fed talk don’t usually last too long in the metals so let’s see how that goes.

SPY March 19, 2015SPY is breaking out solidly here on strong volume and I’m taking advantage of it.

How long it will last I don’t know but so far so good and if all goes well this trend will last into May.

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Enjoy your evening.

Warren

Weakness Can’t Get Traction

**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.**

“Easiest way to earn money in stock Market.  Ask a layman to trade, Sell whatever he buys, Buy whatever he sells.”  Hrishikesh SenGupta

Markets started off weak but they couldn’t gain any traction to the downside as usual.

It seems everyone is trying to press on the downside but it just isn’t working.

Sure, a small correction would be great and fine but if it isn’t to be it isn’t to be.

This tells me, there is a ton of money sitting on the sidelines and it just needs an excuse to be put to work.

We could be on the cusp of a major and rapid move higher.

I’m ready and pretty well positioned already and have a few more on my shopping list.

SPY November 21, 2014SPY is fine and just setting up another bull flag type of pattern although the pole is nonexistent.

Still though, it looks good and ready for higher prices.

A break above 206 is the next buy point.

Enjoy your night and consider subscribing to my nightly Daily Trade Ideas to make them your own!

Warren