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August 2016
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GLD GDX SLV SIL Update

After holding the 17.90 gap support for 2 days, SLV gapped & stayed below that key support level all day yesterday. While I favor a continued move towards the 17.10 level in the coming days/weeks, the odds for a snapback rally & possible backtest of the 17.90 area is elevated at this time. SLV [...]

Aug 25, 2016 9:35am|Categories: Gold & Commodities|Tags: , , , , |1 Comment

US Equity Markets Update 8-25-16

Much of the same in the U.S. equity markets: Awaiting a break below the 116.00 level in QQQ along with both the MACD 9-ema & the 13/33ema histogram crossing below their respective zero lines. Negative (bearish) divergences continue to build following the recent double-top high. 100.70 is my minimum downside swing target, about 5% below [...]

Aug 25, 2016 9:12am|Categories: Equity Market Analysis|Tags: , , , , , |3 Comments

HL Second Price Target Hit for a 16% Profit

The HL (Hecla Mining Co) short trade has hit the second price target, T2 at 5.69, for a quick 15.8% gain in just 3 trading sessions. Consider booking partial or full profits and/or lowering stops, depending on your trading plan. T3 (4.87) remains the final price target for now. Previous & updated daily chart: [...]

SMH SOXL Trade Setup & Entry

Although shorting the semis while SMH (1x bullish semiconductor ETF) still inside this bearish rising wedge in the anticipation of a breakdown that has yet to occur is aggressive, my confidence is high enough to establish a starter short position here, with a stop above 67.30. SOXL (3x bullish semi etf) is my preferred trading [...]

Aug 24, 2016 2:34pm|Categories: Active Trades - Short, Short Setups|Tags: , |4 Comments

ACBFF ACB Aurora Cannabis Trade Setup & Entry

ACBFF (Aurora Cannabis Inc) has broken out above this bullish pennant continuation pattern today following a sharp advance on above average volume. The stock has resistance at the Nov 30, 2015 high of 0.59 to clear but could continue towards the measured target of 0.83 if that level is taken out. While I don't normally [...]

XBI/LABU Stopped Out

The most recent XBI/LABU short trade was stopped out for a minor loss of 1.25%. A very tight stop was used as this most recent short entry/re-entry was based on the assumption that XBI had just started a wave B down on an ABC corrective wave (which didn't prove to be the case, hence the [...]

Aug 24, 2016 11:25am|Categories: Completed Trades - Short|Tags: , |5 Comments

NANO Trade Setup & Entry

NANO offers an objective short entry here following the backtest of this recent broken uptrend line & divergent high. NANO daily August 24th While the current final target, T2 is 18.79, an additional price target around the 17.00 support level is likely to be added depending on how the semiconductor equipment sector as [...]

Aug 24, 2016 11:14am|Categories: Active Trades - Short, Short Setups|Tags: |0 Comments
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