This video begins with the near-term outlook for the US stock market via SPY, QQQ & IWM followed by coverage of the following stocks, sectors & commodities that stand out as potential trading opportunities at this time: WEAT, JJG, DBA, CHOC, NIB, $COCOA, FCEL, DDS, M, AZPN, NVDA, SMH, IPI, MOS & POT.
The following short trades will be removed from the Active Trades category. Some of these trades may have already hit one or more profit targets while others failed to reach their price target(s). Many of these trades have also exceeded their suggested stop level while others may not have but in the long overdue process of cleaning up the Trade Ideas, I will be removing any trades that no longer look attractive from a technical perspective in order to make room for some new trade ideas. ALXN, CBK, DDS, DHI, EWJ, HLF, JPM, PHM, TASR, THI, TJX, VAL, WFC, XHB, XLF, [...]
As mentioned earlier today, I am working on updating all of the trade ideas on the site. As there are currently 38 active short trades, it is much more efficient to review those charts in a video format vs. mocking up static charts and the accompanying notes on all of them. Many of the active short trades on the site were initiated shortly before or after the previous market peak on Sept 14th. When the market bottomed and hit several my key downside price targets on Nov 16th, I stated that the R/R to remaining short was now outweighed by the [...]
DDS probably should have been stopped out and removed but in revisiting the chart today, the trade still looks good so it will remain an active short trade for now. Since the last update, DDS pushed back inside the wedge and then shot above the wedge to the upside, making a likely final gasp blow-off top via the wedge over-throw. From there, prices sharply gapped back inside the wedge and recently broke back below, once again triggering a sell signal. DDS does have some decent support around the 79 level which, once broken, would trigger the next sell (or short add-on) [...]
i'm spending some time today updating the trade setups and active trade ideas and in doing so, wanted to update DDS. this trade idea is now both a trade setup as well as an active trade since it recently triggered a short entry on the break below the rising wedge pattern but still offers a very objective entry here as it re-tests the wedge from below. i have added a support zone to the updated daily chart (2nd chart) and i also wanted to clarify the difference between support levels and targets. if i list a support level on the chart [...]