April 18th, 2017 Watch-list
Evening traders! Strong green day for the market as the DJIA gained 183.67 points! We saw the DJIA go down and touch a level of support Thursday of last week, and we were able to bounce off that support level today. I don't have a ton of confidence one way or the other for the market at this point. I am remaining completely neutral for now. DJIA daily chart below for review with key support and resistance labeled.
Current Open Positions:
KLDX: No longer an open position here as our protective stop loss was execute. Like I said in the market update, this one had a nice set-up and actually started to see the move we wanted to see. It just did not have the legs to get enough momentum to hit our initial target. Moving on from here.
New Stocks/ETF's Added to Watch:
CIE: Somewhat of a high risk/high reward trade here. We had a decent fall from January of this year until late March. Since then we've been forming a nice uptrend on the daily chart with ascending support and ascending resistance. Below you will find the daily chart with the buy criteria, profit targets, and stop loss strategy listed. You'll notice on this one that we list 3 different buy criteria strategies depending on your risk level. The reality is, everyone has a different level of risk tolerance when trading, so I wanted to begin to help people understand that our strategies can be tweaked to fit your level of risk. If you are new to the service, I recommend utilizing the conservative strategy. If you have any questions, let me know!