Less is More

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The following are a few of my favorite longer term setups. I’m in all 3. GE & A I own in client accounts. AAV is owned only in my personal account. These can all be bought with big stops for longer term trend holds. Good luck! (Click to Enlarge)

7.17.16_A 7.17.16_AAV 7.17.16_GE

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Digging in the Trash

Digging in the Trash

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I like the action I am seeing in the metal area. I’ve already been a buyer of the GDX in client portfolios for a longer term asset allocation play. Now I’m looking for trading opportunities and have started a position in First Majestic Silver (AG). The stock is in the trash and has little to know technical appeal. If these stocks gain any traction at all the pile-on impact should be big.

AG

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FSLR for the win

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While my general view on the market has been articulated well in previous posts, I wanted to bring one potential trend break to your attention which may provide some unique upside in a bearish tape. Despite oil trading at depression-like levels, solar stocks are getting some love after the recent climate change conference. After a multi-year downtrend, accumulation has started once again in the once-loved First Solar. In full disclosure I already have some shares here from last week. I will be adding on any retracement and have a stop on a clear break of the 50/20 week moving averages.

FSLR_12.20.15

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I want to be a bull but….

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You do what you do, I do what I do. As long as you have a strategy, execute with discipline and stay true to your rules, I applaud you. If your strategy calls for you to be long and strong here I do not desire to influence your read. My read and position is not opinion but rather my rules, which are sometimes wrong. As much as I have enjoyed watching the recent ramp off lows the larger picture still looks bearish to me with 7 months of overhead supply straight ahead. The drop was intense and the recent pop, especially today, oozes of late shorts being squeezed and anxious bulls feeling left behind. I want to be bullish and go long stocks enjoying the ride and toasting the gains but I cannot. The bounce is allowing me to redeploy shorts. Right or wrong this is what my strategy tells me to do so I am following it.

10.8_SPY

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