June 2016
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XLV Second Price Target Hit

The XLV (Health Care ETF) short trade has hit T2 (69.20) for a 4.4% gain. Consider booking partial or full profits and/or lowering stops, depending on your trading plan. T3 remains the final target for now. XLV daily June 24th

Short Trades Updated

The following Short Trades have either hit one or more profit targets and/or exceed their maximum suggested stop & will be moved to the Completed Trades category, where all associated posts will be archived for future reference. ADP: After reversing about 1.25% shy of the first price target, ADP went on to slightly exceed the [...]

Jun 24, 2016 3:24pm|Categories: Completed Trades - Short|Tags: , , , , , , |0 Comments

Market Overview 6-24-16

The video starts with a brief overview of the Pound Sterling/US Dollar (GBP/USD) currency pair followed by an overview of the US equity markets & wraps up with some comments on trading strategies, including some considerations on when to book profits vs. letting a profitable position run. note: It might take a few minutes after [...]

FL Final Price Target Hit for 22% Gain

The FL (Foot Locker Inc) short trade has hit the final target (51.60) for a 23.2% profit. Despite my bearish outlook for the broad market, the R/R no longer warrants remaining short in FL as the stock is at major support with bullish divergences in place. Consider booking full profits as FL will now be [...]

Jun 24, 2016 11:27am|Categories: Completed Trades - Short|Tags: |0 Comments

SPY & QQQ Key Support Levels & Targets

The markets gapped down to some pretty significant support levels today (and/or hit those levels in pre-market trading before reversing): the 203ish area on SPY & the 104.50ish level on QQQ. While this first tags of those key levels in a while is likely to produce a reaction, which so far it has, with the [...]

GBP Near-term Scenario

It's getting late here in the east coast of the US so I'm going to share one last chart on the GBP/USD with what I believe will be the two most likely scenarios, both of which bring the pair back up to the 1.40ish level in the coming days. I rarely ever trade currencies & [...]

Pound Sterling at Support, Bounce Likely

As the Brexit vote polls are still open & push to about 50/50, the GBP/USD has fallen to long-term support with bullish divergence in place. Currency traders that don't mind stepping in when there is blood in streets might consider a long position around the 1.36 level with the appropriate stops using a 3:1 or [...]

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