The ITB (US Home Construction ETF) short trade has hit the sole price target, T1 at 41.86, for a quick (6 trading sessions) gain of 7%. As my expectation is for a decent bounce off this level next week, I have decided not to add any additional price targets at this time, although I may look to re-short ITB again soon if the chart confirm an entry. ITB will now be moved to the Completed Trades archives. Previous & updated daily charts below.
The video provides an update on all six of the official active trade ideas on Right Side Of The Chart at this time. Covered in the following order are: CORN, D, ENDP, ITB, OSTK, SOXX & XLE.
Here are a few of my top picks for sector ETFs right now that appear to offer some of the best risk-to-reward profiles at this time. Holding exchange traded products (ETFs & ETNs) vs. individual stocks during earnings season helps to mitigate the risk of being caught on the wrong side of a large earnings-induced gap against your position (e.g.- INTC has traded up over 10% today following their earnings report last night while SOXX has only traded up less than 2½% so far today). SOXX - semiconductors ETF short (or SOXS long). This backtest of the recent broken 60-min uptrend [...]
Technical analysis on ITB (Home Construction ETF) along with 14 of my top trade ideas in the homebuilding & construction sector. The following ETF & stocks are covered in this order: ITB, SHW, DHI, NVR, OC, LEN, PHM, LII, TOL, CAA, KBH, TPH, MTH, LGIH & MHO. Playback speed can be increased in the settings to reduce the duration of the video
ITB (iShares Dow Jones US Home Construction Index Fund ETF) offers an objective short entry on today's breakdown below the bearish rising wedge pattern with a stop above the recent high of 46.56. The sole price target at this time is T1 at 41.86 with the potential for additional targets, depending on how the charts develop going forward. The suggested beta-adjusted position size for this trade is 1.0. ITB daily Jan 25th I just wrapped up a video covering 14 individual stocks within ITB that standout as compelling trade ideas, including additional analysis on ITB. That video will be [...]
An update on XHB (homebuilders ETF) and some of my favorite trade ideas in the sector at this time.
Analysis of the Homebuilders ETF, XHB, along with several leading homebuilding stocks & related companies such as DHI (D.R. Horton), LEN (Lennar Corp), NVR (NVR Inc), OC (Owens Corning), PHM (Pulte Homes) & TOL (Toll Brothers).