I've put together a video covering the Aerospace & Defense Sector and a dozen of the individual components with charts that stood out to me. As a lot has happened in the markets over the last few weeks that has damped the longer-term bearish case and strengthened the bullish case, a dilemma has developed lately which is a very obscure, or more precise, a conflicting technical picture. From a longer-term perspective (weekly charts), I continue to believe that the technicals are bearish. Nearly all major US indices are at or near key multi-year resistance while most or all have recently broken [...]
I've received a few comments lately regarding the strength of the Russell 2000 (small caps) so I made this video to share my thoughts on the index. I also covered the charts on the following components of that index in order to get a better feel on where the index itself is likely to go from here. Many of these stocks are either active or recently completed trades on the site so for those who wish to skip forward in the video, here's a list of the charts in the order discussed: $RUT weekly, $RUT daily, $RUT 60 min, WNR, GCO, [...]
in reviewing the active trades category, i've noticed the following trades have been completed and will be removed from the active trades category: [...]
RGR has been a great trade...twice in just the last few months: first posted as a short entry for aggressive traders at 57.38 on may 2nd, covered (hit final target) at 34.35 just over a month later on june 8th for a 40.1% gain, then reversed the trade (long at 34.35 for aggressive traders) that same day and hit the final target for another 19.7% gain exactly 3 weeks later, for a cumulative gain of 59.8%... that's why swing trading runs circles around buy and hold IMO. [...]
still getting caught up on updating the Active Trades. here's the current 60 min chart of the RGR long showing that T1 (final target) was hit on 6/29, exactly a week ago today, and has continued to trade around that level, still offering a chance to book the 19.7% gain from entry (from the original entry price posted for aggressive traders at the bottom of the wedge). charts in order as posted.
the recently reversed (short to long) RGR trade did recently trade slightly below entry (break of the 60 minute falling wedge) but still looks ok for now. of course, make sure to set you stops commensurate with your own trading style and risk tolerance if you took the trade. for example, some traders might have used a very tight stop below their entry point, in which case they might already be stopped out, depending on if where they took the trade. a slightly more liberal, but still relatively tight stop from here might be on a break below today's lows (35.50), [...]
if you took RGR at the bottom of the wedge (or just below), you can take the quick 6%, 1 hour gain here as i'd say the odds are good for at least a small reaction off that upper wedge line. if you plan to hold or enter a new position on a break-out of the falling wedge, i have added a price target. if you do not already have a long position, or if you are still short and just catching up on the posts, consider waiting until prices make a solid break above the wedge before entering (or stopping [...]