although i've been trying to find the time to update the performance of the trade ideas posted here, which hopefully i'll be able to get caught up on soon, i just wanted to share how i report the results. first of all, i do not trade or manage the trades ideas on this site for show. i trade for my own personal profits and although i do not take all, or even most of the trade ideas posted here (mainly because it would be too many positions to personally manage at one time), i do my best to try not to [...]
SPY is now at the first resistance level where i have it turning down on the primary scenario from yesterday. however, i should have added an alternative scenario as i did with the XLF 60, which would be a little more upside to the next resistance level before turning lower. i am adding some shorts here and i will continue to scale until the top of that alternative scenario resistance band marked below (138.75-139.35ish area), with stops somewhat above that level. there are still many active or short set-ups that are pushing back to resistance that may offer objective entries or [...]
didn't catch it earlier or i would have tried to post it before the close but the MPAA long was up big today to literally close right on T2 for a 31% gain from entry so far. consider taking partial/full profits and/or moving up stops as although this chart still looks very constructive, the odds are pretty good for a pullback or consolidation before T3 is hit. charts in order as posted.
i usually try to make my trade update posts timely and relevant such as a trade set-up approaching the break-point level or having just recently broken out or maybe an existing trade hitting or approaching a target. MPAA is actually well in-between it's 1st and 2nd targets but my concern is that these targets are quite far apart and the stock is up about 23% from entry and pretty extended in the near-term, especially without much, if any, consolidation or pullback since breakout other than a quick re-test of the downtrend line. therefore, consider moving up stops to protect profits or [...]
as far as the active long trades out there, this one still has one of the most constructive charts IMO. i first posted this one of the video trade-ideas on sunday feb 5th pre-breakout while still inside the falling wedge, so i don't have a saved copy of the original chart (since i make the videos using the live charts from TC200) but here's the 2nd chart and today's updated chart. this one is up 16% from breakout but again, market willing, still looks like it has more room to go on the upside although i wouldn't be surprised if it [...]
MPAA was posted on feb 5th (super bowl sunday) in the trade ideas video- part 1, as a long trade idea as breakout from this bullish falling wedge. the stock then broke out, made a perfect re-test of the wedge and jumped over 12% today to close just above the first target. consider moving up stops to below T1 if you are still long the trade. as i said in the video, this one looks like it might have good chance of hitting those higher targets for longer-term swing traders, barring the usual pullbacks along the way. will leave this on [...]