1-29-16 – Trading Strategy

1-29-16 – Trading Strategy

What I’m in

  • No current positions

What I’m selling

  • No current positions

What I’m buying

  • No new purchases for tomorrow as I don’t want to hold anything over the weekend at this point.

Today’s Updates

Market Snapshot 1-28-16

First signs of bullish strength in the markets all week with almost 2 days in a row now of bullish movement. This could certainly be the correction as we’re seeing some large percentage retracements.

UGLD (Gold) Stopped out @ $8.55 for a breakeven profit

Even for the commodities it appears I should simply take my profits at end of day instead of overnight. I was able to get out without taking a loss, but I would have been happy with yesterdays 2.81% Profit at close.

UGLD 1-28-16

What I’m Watching

UWTI (Crude Oil) has made a massive reversal and is now testing the upper longer downward trend line. We could be getting into new bull territory. PPO is up, but we have yet to break the upper trend line and even the 20-day moving average so I’m not going to get too excited yet. Breaking above the short term $2.45 is a good psychological barrier so let’s see if it’s a fake out for further downside movement or if we have a bottom in place.

UWTI 1-28-16

DRN (Real Estate) is fitting nicely into a downward trend especially after the recent pullback. It’s bounced lower off the 20-day EMA in purple, and PPO is negative for the last 2 days. I was faked out with a PPO which turned positive a few days ago and now a clear down trend is forming. I don’t really want to get into a position on Friday to hold this over so I’m going to wait on this one as well.

DRN 1-28-16

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