Category: Trades

The Dow Jones broke out of its ascending triangle this morning. I went long at 27,562. Stop was placed at 27,260. Target is 31,500.
The pattern has been forming for six months and the break out coincides with an all time high. It doesn’t get more bullish than this.
It also looks to be completing a running wedge on the weekly chart.

Currently, I have open positions in the SP500, NASDAQ and DJIA. I am still waiting for the Russell 2000 to break out.

The Russell 2000 looks like it wants to join the global stock market rally.

I will be looking to go long after a 1600 break out.

I am jumping back into the Nasdaq trade.

I went long at 8145. Stop is placed at 8000. Target is 8600.
I have a rule that states I am allowed to jump back into a trade at least one more time. This trade looks to good for me to resist.

The SP500 broke out of its ascending triangle.

I went long at 3048.50.
Stop was placed at 3020. Target is 3300.
The NASDAQ trade got stopped out today. I placed my stop loss to close. I should have placed it at 8000 instead of 8038.

The Nasdaq broke out of its ascending triangle today. There has been numerous head fakes in US markets this year. Let us see if this one is legit.
I placed my stop at 8038 and I have a target of 8600.

Us markets, with the exception of small caps, look set to rally and finally bust through overhead resistance and rally to new highs.

I have been burnt a few times this year trading US stock market futures. There have been lots of head fakes. I still plan to trade these ascending triangles once they break through overhead resistance.

Crude oil is still range bound.

Buying around the $50 mark looks like a bargain.

Palladium completed a running wedge. This is very bullish. There was a time I though the top was in for palladium. It looks unstoppable.

First, I explained how to make a fortune with natural gas. That marked a bottom for natural gas.
At my last post on natural gas, Natural Gas Short Covering Rally, I explained why natural gas was forming an intermediate top.

In fact, natural gas topped the very next day. Now we have another opportunity. Open interest has declined to a multi-year low. Last week we saw a minor uptick in open interest. This tells me that natural gas is set to rally. Let us see how good my natural gas crystal ball is this time.

Bitcoin has completed a descending triangle.

There is a lot of air under the 7800 level. The Bitcoin chart is showing classic signs of a bear market. When you see your investment do a parabolic blow off top, you hit the sell button.

I took a small loss on the SP500 trade.

The small caps were not confirming a strong thrust higher in the US markets. My hesitation proved to be correct. Intermarket analysis saved me from taking a bigger loss.

Natural gas is experiencing a classic short covering rally. This is when the shorts take their profits. In a bear market, the open interest decreases and the price increases.

The bottom in natural gas in the beginning of August, coincides with a top in open interest. This is an indication that natural gas maybe experiencing an intermediate top. With a 25% increase in price, it needs a correction. I still have a long position in natural gas, but I reduced my  position and took some profits.