Mar 30
In this holiday shortened week to end the first quarter, we were reasonably active adding 4 new positions: Cerner ($CERN), and Packaging Corp ($PKG) which we detailed here, as well as Corning ($GLW) here and IBM ($IBM) here. All four are off to a winning start, continuing to show strength as the market moved to all time highs. …
Mar 29
We had another exit signal during the week, getting stopped on our short crude oil position which we detailed here. It was never working for us, and we covered with a loss of $4,400 per contract. This left us with just 4 open positions, all winners, as follows:- Long S&P 500 ($ES_F) 1/28 +$3,650.00 per contract …
Mar 29
As we mentioned on Thursday prior to the close, JPMorgan ($JPM) has continued to act poorly, showing relative weakness, and breaking both moving average and price support levels, thereby triggering our stop which will see us exit at Monday’s open. JPMorgan ($JPM) +1.3%. Original 1/28 entry post here. It’s disappointing as it had looked strong taking …
Mar 28
It’s interesting that after many buy signals in defensive sectors like Healthcare, Consumer Goods, and Staples, we now have $IBM, one of the biggest of blue-chip names, giving us what I believe to be a low-risk entry to a strong long-term uptrend. A quick look at the last two years on a weekly chart shows …
Mar 26
We mentioned in our weekly review of open positions the frustration of having a position go against us from the very beginning, and so it continued with our short position in crude this week, finally giving us an exit signal tonight after an impressive 3-day thrust to 5-week highs. We’ve covered our position at the …
Jon Boorman, CMT, is a market technician, analyst, and trader with 25 years experience in global equity, forex, and futures markets. He employs trend following and momentum strategies to generate actionable trade ideas. More....
Loading tweets...