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Good morning gang,
This is it. Petra is finally ready to launch her new service. If you’ve enjoyed following her free picks lately, then you will be blown away by what you get with her dedicated newsletter.
I’ve seen a sneak peek and it is awesome!
The webinar she had last month crashed our chat servers after 1000 people flooded in at once. This time we’re limiting it to less than that and you need to reserve a seat in order to attend.
The date will be next Tuesday, March 21st @ 8pm EST.
This is the first day of open registration, and it is open to anyone interested in her service & getting to talk directly with her.
Take one minute and register right now: https://www.petrapicks.com/webinar/
In addition to talking about her new service, she will be sharing the ONE pattern that she uses for consistent profits each month.
Petra has made over a million dollars in the last few years trading a very disciplined system. She’s extremely intelligent and an amazing trader to learn from.
She doesn’t have many free education events, so don’t miss out on your chance next week!
Now on to the business of the day…
We heard from the Fed yesterday, and they raised rates 25 basis points, as expected. What shocked me was that the market really didn’t factor this in beforehand. It seemed as if shareholders expected a more hawkish stance from the Fed. A little confusing as I was confident that everyone was planning for this exact outcome. Regardless of how I feel, the market reacted differently. I guess the fear of the potential 50 basis point increase was breathing down everyone’s neck, along with the comments made by each member. Not much had changed since the last meeting and the plans for just three rate hikes are still in tact. They are forecasted for June and December so we have a few months to prepare. I think the Fed always walks a thin line at these meetings, and I’m surprised they handled it so well this time around. It was a very balanced meeting, and Yellen especially delivered a speech that was aimed not to spook the market too much, emphasizing that although two more hikes are projected, the Fed is driven by data and is not aiming to be too aggressive. Again, this is only the third rate hike we’ve seen since the financial crisis, so it’s best if they tread lightly.
The overall market rallied after the Fed meeting, and it begs the question…will it continue, or will it pull back? We’ve been here for quite some time with this same lingering question. Yesterday, SPY, led by Google (GOOGL) and Apple (APPL) both breaking to new highs, doesn’t seem to be slowing down. I came across this chart that could show it breaking out of another bull flag.
I’m taking a more cautious approach here. Sure, I believe SPY can rally higher. What would tell me otherwise based on how the market has been performing? However, I do think the odds are setting up for a strong pullback. The question is when and I wish I knew. I’m not convinced enough to enter into a short position just yet. Anytime I have, it’s gone against me, so I’ll stick to the trades that have worked best for us, and continue to pull some money out of the market!
Here’s another chart we need to keep an eye on. How can we have a stock market and interest rates both going up while growth and productivity both going lower? How long will the market hold out hope for some real growth before they price in REALITY instead?
With all said and done, I’m really happy with how we traded around the Fed, especially with JNUG and JDST, but a little bummed we missed out on JNUG today…as soon as the Fed news hit, BOOM! JNUG took off like a rocket and I wasn’t quick enough to jump in and didn’t trust chasing it. Instead, it rallied into the close and jumped 33% in 2 hours. Talk about a missed opportunity, but I will be sure to find us more. With the movement we’ve seen recently, I’ll be coming back to the junior miners more frequently.
I still cashed in nearly $15,000 on the JNUG / JDST trade in the last week so no complaining from me! I’m super cautious about “pressing my luck” on these in such a short period of time. I want to give the market some time to digest the moves recently and give me a new opportunity.
OK. Here’s the ETF Scorecard for today:
For the TSP Portfolio:
Not currently holding anything at the moment
ETFs I’m Watching
DGAZ – Not ready to build a position just yet. Want to see it retest lows from the other day.I am looking for the short side to set up properly. I’ve been waiting on it and now it is getting close.
JNUG / JDST – These are both on high alert all the time right now. We’ve been hitting it good lately so keep your eye on this pair.
GUSH – Got the fade I was looking for. Now waiting on the tradeable base which I think will be around $60. Just waiting on it right now.
UWT – Glad I waited on this one. I still have an eye on UWT for a quick play. Just because something is down a lot doesn’t make it “cheap”. I’m patiently waiting on this trade to find support and the technicals to come into line.
URA – New one I’ve been waiting on an opportunity to get involved with. I like the base above $15 forming and this could be the spot to go for a $2 move higher. Nuclear weapons are a big winner in Trump’s new budget. I think that will give URA a pop soon.
TMF – Might have missed my entry, but will keep this on my WL, I just didn’t expect rates to GO LOWER into and after the Fed RAISED RATES. Chart doesn’t say this is over yet, I still think we’ll get a good buying opportunity with a better chart setup.
Petra’s trade alerts are free for just 2 more days!
I hope you’re taking advantage of all she’s offering right now. When her service launches in the upcoming weeks, you’ll be able to get even more value from her with her expert education and more in-depth trade alerts!
Petra’s New Trade Updates and Portfolio
And just like that, 4 of 5 trades are back to positive. I’m telling you, Petra knows EXACTLY when to cut something loose or hold onto it. She never panics, and that says a lot. Calm, cool, and collected, and sticks to her plan from the beginning. Yesterday, she bought and sold CLF for a quick 3% win in under an hour.