Awesome to see so many of you attend Petra’s webinar last night. We had another huge crowd and fortunately the software held up this time!
I knew she was popular, but I was really shocked to see how many people jumped on board last night and committed to work with her for the year. She’s going to build an awesome community this year and you should be a part of it.
She’s offering 2 services and I strongly recommend you buy PLATINUM. After the ribbon cutting ceremony these discounts will never be offered again.
50% off Petra Picks GOLD
38% off Petra Picks PLATINUM*
* Platinum ALSO includes 4-week Power Trading course valued at $1,999 available in April
The training course is going to speed-up everyone’s learning process. By the end of it, you’ll have a powerful grasp of what she is looking for when trading and WHY she makes the trades that she does.
You will love getting trade ideas and insights from her for the whole year. I’m really confident that you’ll be able to many times more than the cost of her service back this year in fresh trading profits.
On to other news…. (written by hotshot trader, Taylor Conway today!)
The streak is over!!! 109 days it took to get a 1% drop in the S&P 500. We didn’t beat the streak of 110 days in 1995 but we gave it a good shot. Maybe now we can get some volatility in the markets again?
I must say, this is a welcome sight. If we ever needed a pullback, (I say pullback because I do not think this is a “crash” by any means) we needed it now. Traders can finally quit complaining about the lack of volatility, stop worrying about the big gap below, and start trading again like the good ol’ days. Hopefully we can see 100 million traded on the SPY again as a norm. I don’t want to get too technical with the SPY here, but I see the 50-day moving average about $1 below Tuesday’s close. That seems like a natural magnet level to me before we begin to see any curling action, if that indeed is what wants to happen.
Another little technical I use, and suggest you look at, is something called the “T2122 indicator” which is a 4 week new high, new low indicator, which is coming very close to the ‘bounce zone’. This has historically been a very reliable indicator. Hopefully any longs you guys had in stocks were properly protected.
Remember to look for the few stocks that hold up during a market downturn; that is some serious strength. I like to write down a small list and follow how they trade in proceeding days. If you haven’t thought of this before, take a look and learn for next time!
In other news, I win the dummy of the week award for missing my LABD trade i’ve been mentioning for 2 weeks now. Could have had an intraday trade and easily caught 10% of upside within the 15% range it gave us today. Check out this chart which shows the base I was talking about.
“Better to miss a shot, than to take a shot and miss!” ® ™ © – genius words from Taylor Conway
The TMF trade was a great idea along with LABD, hopefully some of you jumped on either one and reaped the profits, remember you don’t have to wait for alerts to make a trade for yourself.
Also, later on in the year we will introduce a few new video lessons. Very elementary idea right now and will keep you updated as things progress. An exciting year ahead.
OK. Here’s the ETF Scorecard for today:
There’s the volatility that we’ve been missing! As the market sold off yesterday, money quickly flowed into gold. I am still short the junior gold miners with JDST (see plan below).
For the TSP Portfolio:
JDST – There’s a good chance I stop out on this soon, and don’t blame any of you if you already did. I just wanted to see if GDXJ could hold above 37.50 for the day, and it ended up closing just underneath that mark. I’ll keep a close eye on it today. I will probably add to it today and keep a stop in place of $12.28, which is just under the recent low we saw a few days ago.
ETFs I’m Watching
DGAZ – I’m looking for this to drop back down in the $24 range, wait for a base to form and then get into a position here. Time will tell if we get that drop, and for right now I’m content with being on the sidelines. UNG made a stronger move higher than I anticipated so I am glad I am not short it, at least not yet anyways.
GUSH – I didn’t get DRIP entry I wanted this week and missed 10% there, but now GUSH is at a level where I’m interested in playing it for a rebound. I have been expecting it to re-test the low $60’s and we’re seeing that now. The question is if it will hold this time? I might take a small piece today and keep a stop @ $58.
UWT – 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. The market carnage took out the the $15.80 level I was hoping this would hold yesterday. Now I am waiting for another entry point to show up if this stabilizes for a few days.
TMF – I’m taking this one off the list for now. It’s up 10% from the lows right before the Fed announcement last week. I nailed the setup, but failed to execute on it. It’s easy to say in hindsight that I should have just bought after the Fed meeting like I planned. In reality though, I just can’t chase moves like that when they happen to so quickly. Sure I wish I made the 10% here I thought was coming, but I’m totally content playing by the rules that have kept me alive all these years and I won’t change it now.
Have a great day!