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18 Nov

Wednesday November 18, 2015

by

Good morning.

We’ve hit 16 wins out of 17 alerts in this service since inception for over $40,000 profit in just a few months. Let’s keep the hot streak going.

Been a quiet week so far ahead of today’s FOMC minutes, which could set the stage for a December interest rate hike. Regardless of what the Fed does, I’m bullish on stocks and will continue to carry a few long term positions while targeting some flexible entry / exit swing trades on mid – large caps and / or leveraged ETFs.

Let’s take a look at the portfolio before discussing new trade ideas.

GPRO is a long term trade I want to be in at these levels but it’s pressing my stop loss at $20. Right now I hate this stock because I suspect it’ll probably stop me out and then bounce big or get bought out by Apple or something crazy like that next week. It’s loaded with shorts and due to bounce out of this oversold situation, question is, when? For now I’ve removed my physical stop at $20 and will monitor it closely. I don’t want to see the market makers / algos run the round number and then bounce it from there, so I’ll extend a little wiggle room around that round number to defend against that. Now that we’re close to the stop I’ll be in constant communication here until the stop is hit or it moves up and away from it. Bottom line is I need to draw the line somewhere so I’m going to give it a day to flush below $20 and see if it rebounds off that.

I think FCX is looking good. Not only is it oversold but billionaire activist trader Carl Icahn has taken a 4% stake in the company which is a very good sign. I’m half size right now, looking to add shares around $8.40 with a stop loss just above $8.

Last but not least, GLUU looks solid above $3. I’m thinking a few weeks to a few months before we profit but if we get 10%+ quickly we’re almost always taking it. I’ve been waiting patiently for my add-on around $3.06 or $3.25, whichever comes first and thinking it’ll probably be this week.

Let’s continue watching BBRY above $7.20’s, I’m thinking I’ll scale in with 3,000 shares there soon.

For new trade ideas I like GRUB, CHK, ERY and BIS but I’m not bidding any of them just yet. Get them on your watch and as soon as I have my game plan for scaling in I’ll email it out to you immediately so you can start to plan the trade.

Trade green!

Jason Bond

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1 Comment

  1. Derrick

    What’s weird about GPRO is it just flat won’t bounce at all. Post earnings dropping to 25 but all it could muster the next few days was a bounce to 26 before giving way again to the low 20’s. Seems to be happening again now in the 19’s.

    Reply

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