Nice follow-thru on the NUGT Long Trade idea today with NUGT poised to print a gain of nearly 24% on the day. A second price target has been added to the NUGT long trade, which will be set using a print of 15.22 on GDX. Additional price targets may still be added, depending on how the miners follow through next week.
Active Trades are trade ideas that were previously posted as Trade Setups and have since triggered an entry or occasionally, a trade idea that was first posted directly to the active trades category as offering an objective entry at the time of the initial post. Active Trades might also be listed in one or more of the other trade categories as these categories are not necessarily mutually exclusive. E.g.- An Active Trade that still offers an objective entry might also be categorized under the Trade Setups category. Likewise, an Active Trade with multiple prices targets may have already hit one or more of those initial targets with additional target(s) remaining, thereby falling under both the Active Trades and Completed Categories. Traders should look to make any new entries or add to existing Active Trades objectively, such as a on pullback to a support level during an uptrend or a re-test of a broken trend-line, wedge, or channel pattern.
I have decided to set the price target for the recent LABU long trade at 21.50. This target is derived from the analysis discussed on XBI in the Biotech video posted earlier today as well as the fact that XBI & LABU have continued to [continue reading…]
This relatively short video discusses the near-term & longer-term outlook for the biotech sector, including the ETFs; LABU, XBI, IBB & PBE. It also gives clarification as to why LABU is currently listed as both an Active Short as well as an Active Long trade [continue reading…]
The NUGT (3x long gold miners ETF) conventional long entry triggered shortly after the open today with GDX moving above 14.01. On a related note, yesterday’s aggressive/alternative entry was stopped out as GDX crossed below 13.50. Normally, once a trade is stopped out it will [continue reading…]
NUGT (3x long gold miners ETF) will be added as an aggressive long entry here on a pullback to support within the wedge with an add-on and/or more conventional entry on any print above 14.01 on GDX (above the wedge & yesterday’s reaction high). The [continue reading…]
USO (crude oil ETP) offers an objective long entry on this breakout above the triangle consolidation pattern that formed over the last month. Price targets are listed on this 60-minute chart & I will try to communicate my preference as to my preferred price target [continue reading…]
The suggested sell limits for the price targets & the suggested stop have been added to this updated 60-minute chart of IWM. TNA (3x long small cap ETF) still offers an objective entry or add-on here as it makes a partial backfill of today’s gap. [continue reading…]