The tobacco stocks got smoked on Friday & member @stock51 in the trading room has asked me to take a look at the sector following last week's carnage in many of those stocks to share my thoughts. Starting with the tobacco sector, we can see that the recent 13% correction was far from unexpected as [...]
The following short trades will be moved to the Completed Trades category. While none of these trades reached their final price target, many of these trades did hit one or more profits targets before bouncing & exceeded their previously suggested (or any reasonable) stop level(s). As the charts on some of these trades still remain [...]
The PM short trade has now hit the first profit target (yellow uptrend line) for approximately a 10% gain since the previous entry. PM was first triggered a short entry on a break below the white uptrend line back in August and basically stalled out for months after that. The trade was updated back on [...]
PM was actually added as a short trade when it made a very brief fake-down (false breakdown) of the daily rising wedge pattern all the way back in August. However, the stock is still only about 4 points or roughly 5% above that previous entry and as the chart has remained bearish and very toppy [...]
I've put together a comprehensive video analysis of the S&P 500 index including technical overviews on 22 of the largest components of the sector, similar to my recent $NDX/QQQ top 10 holdings video. I do have to warn you that at 39 minutes, this is my longest video yet. Therefore, this is my gift for [...]
the PM short trade is basically flat from entry and still looks fine. a tight stop might be considered if the stock were to take out the recent highs (over 93.60) but for now, this trade still looks good and still offers an objective entry at current levels.