The Long Trade ideas categories (Setups & Active Trades) has been updated with the following trades moved to the Completed Trade category as they have exceeded their suggested stops.

BAA– Traded as low as 0.15 while the suggested stop was on any print of 0.16 or lower. note: I am growing increasingly bullish on the mining sector and may soon add several new mining stock trade ideas.

JJC- Shortly after hitting the first profit target, JJC experienced a reaction, as expected, although that pullback was unusually deep with JJC exceeding the suggested stop of 26.25 on what appears to be a stop-run/wash-out move down to the 26.10 level. FWIW, the charts of copper/JJC still look constructive IMO so if still long, a stop below Monday’s lows might be prudent. JJC might be added back as a new trade idea soon but as with all trades that exceed their maximum suggested stop, this particular trade will be removed from the Active Trades and re-assigned to the Completed Trades category where all associated posts will be archived indefinitely for future reference.

MYL- Exceeded the suggested stop of a close below 41.00 the day after the setup/entry was posted. I remain near-term bullish/longer-term bearish on the biotech sector but the current technical posture of MYL is bearish as long as it continues to trade below that key 44.66ish former support (now resistance) level.

I plan to work on reviewing the Short Trade ideas today in order to post any necessary updates on those trades. I’ve also started to look for some new trade setups & have a least one promising long trade ideas which I post shortly after the open today and as mentioned above, the precious metal mining sector may be setting up for the next big rally. Although the primary trend in the miners has been bearish for years now, we’ve been able to patiently wait & catch the bulk of each of the previous major counter-trend rallies. Those “counter-trend rallies” each resulted in gains of 20% or more in the mining sector, with many of the individual mining stock trade ideas hitting profit targets for gains as high as 40%-60%+. More on the miners soon.

Regarding the broad market, I continue to remain cautiously bullish in the near-term (days to weeks) and will post any significant technical developments that I notice. One other sector/trade idea that stands out today would be USO, which looks poised to pop out above a bullish pennant/triangle formation at the open today (best viewed on the 60-minute thru daily time frames).