There have been several distractions recently, but a good focused day today, and “back to basics” for my trade setups that is. And my single highest probability setup is the #1 (or #2) bounce trade. A couple days ago, with a conversation in intraday comments, I said to start watching the pot stocks, as “they have been clobbered”. I was very bullish on them until January 9th, at which point I said it’s time to sell. Pot stocks are very emotional, and they go thru some huge spikes and then fade for months or years. But a few days ago I started watching them much more closely “for a bounce”, and today lo and behold MSRT had a huge run. So I watched it up into the #1 EA, and when that appeared, then I was focused on my trade – the #1 EA bounce trade. It showed up, it worked, +10%, I’m out (too early), here are the self explanatory charts –
Next up is ATOS, this one has been discussed three days in a row, and this thing has been a huge winner. I had a scratch trade in it a few days ago, came in long from yesterday, sold it WAY too early, but today it was running again, and yes, another bounce trade then set up for me as I waited for the EA to show up. I’m still long from .77, the charts –
An next up is a gold trade setup. I’m doing a post soon about gold in 2018, people are not understanding how powerful this 57 month accumulation area is in gold. The only thing I care about is the accum area, and the December 2015 terminal shakeout, the springs, and the SOSes.
In today’s premarket, I laid out the trade I was looking for with gold. I’ve been over and over this stuff, how my spring trades set up. Here is my original comment and chart this morning –
The curve and the 1334 support were drawn in, for the spring potential.
And here was the outcome today after the Mensa meeting at 2 PM – at first the short-term upthrust, then the spring of yes 1334 and a $15 rally, and the 123 reaction from the 1/25 high in the miners. I’m still long 1/2 position JNUG from 15.42, jobs day is Friday, a sustainable rally into it is very unlikely –