OXGN from yesterday's early Trade Alert is up nearly 6% and appears it will add more. Remember these are not position trades, at double digit gains you want to start thinking about taking some off the table
Yesterday ADM was highlighted as a potential short, we were/are waiting for the 15 min chart to go negative.
Here's an alternative entry as well
FXE Short was another call yesterday, it's down this morning and filling some of the gap so this trade (if you like it) looks pretty good still
The same goes for UUP long.
The CAT trade idea (if you shorted at the time it was released) is already profitable. If you decide to take the more conservative entry (short below $106.03) listed, there's still plenty of downside potential in the trade.
The Israel/Oil post talked about USO being strong and the bigger picture charts looking like a new high will be made soon (above the March highs) especially if the tensions in Israel's conflict mount. Today tensions have continued to mount. A bomb has went off in Jerusalem killing 3 and injuring dozens. USO continues to climb.
As for the DE short, it didn't bounce as high intraday as I would have liked to see, but it did give a better entry on an intraday trend higher. This morning DE is down about -.85%; it's still in a decent area for a position.
HDY was a long idea which has pulled back this morning, I'd watch it for a move above $6.30, ultimately we want to see a break out above $6.38 or better.
GM was another short idea, one in which we wanted to enter on strength, we may see that strength today, so if you are interested in GM, keep in touch with me for updates on where it is in the cycle.
SLV is up today as expected, the high probability entry we are looking for has not emerged yet. However, SLV is making a new breakout move so it'll be watched carefully as these usually precede a reversal, just as we saw on 3/7.
GLD threw a surprise curve ball today as I expected it to be down. It may too be going for a breakout as it's only $.07 away from an intraday high. So GLD will be watched even more closely for a shot at a reversal. The 1 min chart hasn't kept up with price, the 5 min has. We'll have to see where the deterioration occurs and how quickly.
The LEI (long) trade alert, if bought at the time presented, gained nearly 17% yesterday and is currently up about 15%, this is in the double digits and I would personally be taking some off the table, however, the breakout was strong, the upside target was near $6 and it is in a consolidation right now, so I probably wouldn't dump the whole position on the double digit gain, but I would take some off the table to guarantee a profitable trade.
The Market is off a bit this morning, but there are some 1 minute divergences that suggest more of the gap may be filled shortly. As far as a solid reversal signal, there are hints of it on the 15 min chart, but I want solid, high probability trades. The current 15 min charts don't give the overwhelming edge I'm looking for in a trade so I remain cautious on shorting the broader market, even if I miss the boat a little.
SPY 15 min
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