Here is today's live class outlines with pre-market observations and comments... will update live when your live class begins at 10AM....
If interested in attending our live class, click on this link each day, or bookmark the link.....
http://metastock.epopcentral.com/join.html?dn=RT
Yum Brands posted good numbers.. Alcoa reports this afternoon, General Electric on Friday. Market looking for insights at 1pm with release of FOMC minutes.
We did a 4 hour live class today so I really don't want to reiterate here what all we talked about, accept to say we said today the market should hold up and we would be willing to buy something. Since we ended the class at 2:15pm the market has continued to work higher.
Here is a copy of a trade I took today in Freeport-McMoRan Copper & Gold (FCX). I used a combination of the PB initial target (as a confirming support) with the SC room buy setup. I will try to stay beyond the SC target and trade the bigger trend as long as possible, using the PB target as a possible goal. If FCX can trade above the target I may try to stay a little bit longer in this longer-term uptrend, but i will use a trailing stop either way to protect any profits as best as I can.
Bernard, Remember how you asked me about Goldman Sachs (GS) today and I told you how we would use SA room buy to consider getting Long today and the try to stay Long into the previous high, and if it could rally beyond that we would we would use that PB trade parameter to guide is to the 240 area, or use that PB buy stop as a longer-term target. Remember how I said I would actually use today's SA and buy it where it was at that time (around 229) and put my own stop loss below today's SA buy trigger, then try to stay Long to the target, or higher if at all possible.... well, I never dreamed it would shoot up that quickly but it did. Hope this helped you since you have been Long around 219, I think you said. We are still bullish GS and would like to still stay long if at all possible. FWIW, I bought it after we talked when I went back to my room to trade a little... am still long 200 shares. This was your first day to our live class. Hope you found the class beneficial. Welcome... and we hope to see you again. - Marc
This
POT SB trade was first posted here (
click here to see)... We discussed it in our live class yesterday and said it was technically better now that it had covered its gap from earlier. Today it hit that target. Scott from California, if you are still in this one, watch to see if it can exceed the target now. The chart pattern suggests this is a good possibility. I have included higher projections to monitor for if this happens.... SC trade also below.