Just A Little Rest

**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.**

Every great story on the planet happened when someone decided not to give up, but kept going no matter what.” ― Spryte Loriano

A little correction is fine as stocks need to rest.

They cannot sprint or run everyday without burning out so this slow jog, and rest, is great action which will allow this uptrend to continue to be sustainable.

Dip buying looks to still be the strategy to employ.

I, nor anyone has any real idea how long this bull market will last but I see at least 2 more years when I look into past bull markets and their behaviour but I can always be wrong, it’s just staying wrong that stings, so I don’t.

Tonights letter is out before the markets close so the charts are midday.

A nice quick gap fill now has SPY poised to turn back higher.

Low volume on this pullback is telling me it is just that.

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Have a great night.

Warren

Rate Increase Doesn’t Phase Stocks

**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.**

“There is no greater gift you can give or receive than to honor your calling. It’s why you were born. And how you become most truly alive.” – Oprah Winfrey

The Fed raised rates as expected Wednesday by 0.25% and said they will likely do it 3 times in 2017 but time will tell.

If markets continue to hold and move higher as they have been then we will see 3 rate hikes in 2017, if markets don’t remain strong, we won’t.

Stocks continues to act great after a brief dip on the actual rate hike news but that was just a quick chance to buy a few positions on the cheap as we did.

Gold and silver are taking it on the chin hard but gold is very near the $1,120 support level, and usually, moves on Fed news only lasts 2 or 3 days so let’s see shortly if the metals can find some footing.

december-16-2016SPY looks to be building a small wedge which means higher is next and I see no reason in the action anywhere that this will no be the case.

The Santa rally is strong this year.

I hope the season is kicking into gear and all is well, have a great night.

Warren

Stocks Act Super

**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 line between failure and success is so fine that we are often on the line and do not know it. How many times has a man thrown up his hands at a time when a little more effort, a little more patience, would have achieved success? Just a little more effort and what seemed hopeless failure may turn into glorious success.” – Elbert Hubbard

It’s been quite the week with some wild swings in Pharma and bio stocks but they are still setting up nicely, while steel stocks continue to show very nice strength like we haven’t seen in years, but they do need some consolidation shortly.

Silver is trying to take the lead and bring gold higher with it, but so far it’s not succeeding exceedingly well.

Talk of a NFLX takeover continued today with AAPL in the mix with DIS now, while China cut daily ATM withdrawals in half and LVS and WYNN were hit hard and low as a result.

december-9-2016Great action from SPY but we are overbought right now so some consolidation can’t be far off.

Ideally we see SPY setup like the steel stocks did before this weeks newest breakout.

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Have a great Friday and weekend.

Warren

Steel Stocks Ripping

**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.**

“There are certain things in this world we all have in common, such as time. The difference is what we do with that time and how we use it. If you’re killing time, it’s not murder, but pure suicide.” – Lou Holtz

Indices continue to move solidly higher and stocks are starting to move as well very nicely.

I’m seeing lots of buy levels set to go, although I only focus on those I think best, and many more are setting up very well.

That said, overbought readings say we need some consolidation soon.

The steel sector is on a tear and may well become a major theme in the years to come if Trump can pull off massive infrastructure projects and I for one hope he succeeds.

november-23-2016Great action from SPY into highs, albeit on lower volume than I’d like to see.

We may yet see this breakout fail, but that should only be short-lived.

I still think we’ve got a few years left in this bull market with the real fun still to come.

Have a wonderful night.

Warren

Election Results Push Stocks 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.**

“Be present in all things and thankful for all things.” – Maya Angelou

Wild, wild action that hasn’t tempted me to do any trading yet but I imagine we will see some buy points trigger in the week to come.

Lots of stocks are looking better and soon to setup with several potential cup and handles on the way if all goes well.

We look to be on track for a strong finish to 2016 but the Nasdaq has to turn up soon to make this a reality.

november-14-2016SPY backed off resistance as it should have and now let’s see if it sets up for a break into new highs.

Have a great weekend.

Warren

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Gold & Silver At Historic Buy Levels

**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.**

“We’re not going to play a winning hand every day.” John Paulson

We don’t want stocks ripping everyday or that means the end is near.

Stocks continue to base and act fine along with markets who are setting up for a next leg higher.

I remain very heavy into stocks but I’m not seeing too much new that really has my eye.

Gold and silver are testing their 200 day moving averages so now we see if those levels can hold and end up being a buy opportunity.

In long bull markets the 200 day average is rarely hit but usually provides amazing entry points as the bull market rambles on so let’s see how Friday plays out.

It may well be our first, best, dip buy chance in the metals and miners.

october-7-2016SPY has turned into a nice triangle which should resolve with a move to the upside with the 217 area the breakout level.

Have a great evening.

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 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