Vigilance Is In Order
Hi Shoppers, Here are my next support levels for the major indexes, which is the 50-day moving average for each (the blue line). The SPDR S&P 500 (Ticker: SPY) comes in at $398.56: In the Invesco QQQ Trust (Ticker: QQQ) the 50 day moving average sits at $303.52, which lines up with my upward sloping […]
t’s All About Patience
Hi Shoppers, One of the most difficult things in trading is having patience. Patience before you place your order. Patience to wait on the confirmation the following day before your trade entry. Having that patience when the stock hasn’t made the move you were expecting and just flails for a while. It’s especially trying when […]
That’s A Cheap Shot! (Two of Them)
Hi Shoppers, I have two super-cheap shots for you today. They are based on my favorite Japanese candle formation, the doji. You love to see it. First, let’s have a quick review of what a doji is, exactly. The doji is my favorite because it can be found at the top of an uptrend and […]
XLE Breakout?
It looks to me like the Energy Select Sector (Ticker: XLE) may be on a breakout to the upside: It has closed two days now above my red resistance line. It is possible Friday’s candle could be a doji, which could call for a pullback. Watch tomorrow for XLE to trade higher than Thursday and […]
Rally Cap
Hi Shoppers, WOW! WHAT A RALLY!! I know I was bullish back on the week of July 18, during our Trade Fest II. Then I sent you new charts of where the support and resistance levels were on Aug. 7. In that write up, I said the market was at a crossroads and needed to […]
CLF Jumping
Hi Shoppers, I would just like to share with you this tremendous trade in Cleveland Cliffs (Ticker: CLF) I closed out on yesterday in Option Shopper. Click right here to see how it went. Where to now? Cleveland Cliffs (Ticker: CLF) has had a nice run up. Check out the chart: Yesterday’s candle is bearish […]
Going Down to the Crossroads
Hi Shoppers, At our live event on Thursday night, I told you how I thought the market was at a crossroads. I showed you how I use trendlines to help determine where a stock could be going and how to take advantage of that with an option strategy. I also predicted a move down in […]
Pretty Pretty Good
Hi Shoppers, On Sunday I wrote about McDonald’s (Ticker: MCD) possibly having a doji in Friday’s candle. It didn’t pan out because it did not trade lower on Monday. So, no confirmation, no trade. But check out the chart now: MCD has rallied over 14% off that doji on June 17 and yesterday’s candle looks […]
Your Powerball Rebound
Hi Shoppers, Since I have had several people from out of town ask if we were the lottery winners, I need to make the announcement: It wasn’t us! The winning ticket was sold less than seven miles from our house in Des Plaines, at a Speedway gas station for $2. The jackpot total was $1.337 […]
Time for a Cruise?
Hi Shoppers, Remember your senior trip? My class at Curie High Schoo in Chicagol had around 800 seniors, but only about 50 of us went on the school trip. It was a Caribbean cruise to Jamaica, Grand Cayman, and Cozumel. It was fabulous! I have great memories of shopping with my mom for new outfits […]