Sunday, February 5, 2017

Update - 2/5/17

The indices are still in no man's land in the short term.  Long term they still look solid.  I sold another 1/4 of my SPY exposure from 2016...basically to finance single stock positions, some highlighted below.

I'm going to give you quick observations on my potential top ideas.

CS - Still waiting for final flush in second part of a leading diagonal.  So far it looks perfect to me.  Before this diagonal CS had 3 corrections down.  There are never 4.  That's why it has top idea potential if it sets up again.  Love at 13 on a bad earnings reaction or europe headline.



GDX - has already taken out trendline of a double 3 correction.  Took out 50 day.  About to take out 200 day that will be another confirm of another new uptrend.  I own this and component leader ABX.



SEA - Coming into 50 day.  Already has 50/200 day cross.  After a second 5-3-5 down much like IWM in 2015/early 2016.  Had a 9 month correction, now trying to uptrend.



CCJ - Uranium stocks had big run last 2 months and now consolidating big run.  CCJ is the leader.  About to complete a first ABC down.  At 50 day.  200 day not far away.  Those are good spot trade spots.  Have a starter position in CCJ the last 2 days and early took a starter position in rare earths REMX.  Looking at ETF URA.



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