Updated Stop Loss

DPR Update:  I have updated my stop loss, login for details

This is just a quick not to say that because of the choppy nature of the price at these new higher levels, I want to increase the stop and therefore decrease the probability of being stopped out so soon into the new trade.  I will be tightening the stop very quickly should the market make a new high tomorrow or in the coming days.

Good trading,

John


The Relentless Rally

Image result for how high can it go

DPR Update:  Filled and new stop in place.  Login for details

This rally shows no sign of abating.  The market is extremely overbought at this point, but it can stay overbought for a lot longer than you think.

However, in my best estimation (for what that’s worth), is that this is the last leg of the rally.  I feel that we will soon see a swoon and the party will be over short term, although it may be the beginning of Feb before it comes.  In the meantime all I can do is get back on the train and follow it higher or get out quickly should it start to fall.

Come what may, I am long again…

Bring on the bulls!

John


Too High, Too Fast

Image result for dont trade quote

DPR Update:  New order in place, login for details

I guess it just went up too high too fast.  It was inevitable that it would let of some steam and soon.

I was stopped out while keeping a tidy profit, it remains to be seen if this is the high that will stay in play in the coming weeks.  We are certainly due some type of pullback.  It is lining up to do so; at this time of year things tend be be weaker, so I expect a 2%+ pullback from the highs before the end of Feb.  But as always anything can happen.

For now, in equities, I am back to cash and will wait and see.

Good trading,

John


Thank You Netflix

DPR Update:  I am moving my stop to $85.50 to lock in some more profit.  No other changes.

The Nasdaq composite hit yet another record high today after Netflix shares surged on stronger-than-expected subscriber growth.

According the CNBC, The video streaming giant said that total net adds reached 8.33 million, well above a StreetAccount estimate of 6.39 million. Netflix’s stock surged 10 percent, lifting the company’s market cap above $100 billion for the first time.

As of November last year they reported approximately 110 million subscribers worldwide with about half in the US alone.  Amazing.

Anyway, this rally shows no sign of abating, and I have now likely locked in a sizable profit in this latest trade 🙂

Good trading,

John


Deal Reached on Government Shutdown….Big Surprise…Not

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DPR Update:  New stop in place, login for details

There are times when the news is so predictable.  This latest government shutdown scare was just another in a long line of shutdown fears that I have seen so many times before.  Seeing a big gap down in the futures on Sunday night did not concern me in the slightest.  That gap was craving to be filled and very quickly as the market waited on the inevitable news that a deal was voted through.

Thanks to the vote, it was a nice pop in the Nasdaq and a great day for the ETF.  Just how high it can reach in this new leg of the rally is anyone’s guess, but its certainly a strong breakout so far.

Bring on the bulls!

John


A Short Pause in the Rally

believe in yourself

DPR Action:  New Trade, Login for details

Well, just when it seemed to be losing steam the rally bounded back today.  It hasnt quite reached the heights of the all time high just yet, but I will be there looking to get in on a breakout.  Come what may.

I would prefer for it to sink to a lower low than yesterday, but it is more likely that it will go a little higher in my estimation.

Good trading,

John


Important Update

I am cancelling the trade I just set, the DPR has been updated, so still no trade for now.

Apologies for this confusion, but it was due to a technical error in reading the system code.  Without going into any laborious details, the system replies on 2 trading platforms to finalize the signals and one had an error and was temporarily not communicating properly, it has now been corrected.

Thankfully I have caught it in time and therefore, I am staying flat for now, despite this big move higher today.

Once again apologies for this confusion.

My best,

John


New Year, New Trade

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DPR Update:  New order in place, login for details

Quite the bullish start to the new year today.  This big move up has re-set a new buy order after what was looking rather bleak at the end of 2017.

I don’t see any particular market moving news that caused it, so perhaps just the natural positive outlook we all have at the beginning of a new year is really the cause.  So, lets see if there is a follow through to the upside with a new all time high in the Nasdaq in the coming days.

Good Trading,

John