14 Nov Weekly State of the Markets and Swing Trading Ideas Report
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SWING TRADING OF 3X ETF’S , STOCKS, E MINI SP 500 FUTURES, AND GROWTH STOCK RESEARCH SERVICES VIA SUBSCRIPTION
Weekly Stock Market and Trading Strategies Report Week of November 16th
” I haven’t sent you an email for a long time and now I grab the opportunity to thank you once again for extraordinary services you are offering, I really couldn’t ask for more! You are doing a fantastic job and there are no words for your professionalism, consistency and accuracy, not to mention how easy you make trading seem…we all know how difficult it is actually! Btw I have been a member of your 3xETF service for almost six months and I am really happy with that too… I don’t want to be without your service , not even for one day… Again thanks a million and my best wishes to you and your family!”
– Bill L. SRP/3x ETF member 10/30/2020
- SP 500 hits all time highs, Major Wave 5 continues from 3230’s Major 4 low (Chart)
- BIOTECH on verge of massive breakout, we are long LABU in 3x ETF service (Chart)
- Tech stocks bottom early in week, we jump into TQQQ 3x Bull ETF after pullback in 3x ETF Service
- Big winners at SRP stock swing service included FSR, CVAC, TFFP, TRIT, CGC all big movers this week!
- Small Caps take the lead (IWM ETF Chart)
- INMB moving up in the TPS long term service, one to watch in Biotech space
- SP 500 can head to my 3800-4000 targets intermediately
- GOLD needs to smash up soon or at risk, looked good going into last week but Vaccine news took air out (Chart)
Stock ,ETF , and SP 500 Futures Swing Trading plus Growth Stock Investing options for members
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It’s best to belong to three or four of my subscription offerings at the same time to have the most opportunities across all market conditions with multiple shots on goal! Asset allocation as a Trader is key for long term success in all environments– Dave
Another great week across the 4 services for members:
- Stocks- Massive profits in CGC, FSR, TRIT, TFFP, CVAC all this past week!
- 3x ETF- We entered LABU 61-65 and 68-70, we entered TQQQ 131-134 both up nicely
- ES Futures- Nice profitable trade taken early in week on the upside
- TPS- INMB position starting to move up quietly, TFFP also soaring off end of Oct lows
General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500
SP 500 and Market Commentary
Last weekends report notes re-visited:
“We are now in the seasonably favorable window into April/May, with obvious waves within along the way. It appears we are in Major Wave 5 from the 2195 lows of March 2020 to all time highs. A standard rally to 4000 for this 5th wave relative to the prior Waves 1 and 3 would make sense, but one week at a time.
The CNN Fear gauge is still reading 40 even after last weeks rally, which argues for more upside into year end likely along with the wave patterns.”
We can see that in fact the market continued higher as Vaccine news spread early in the week followed by some consolidation. Rotation out of Tech and Stay at Home stocks initially, but money came back in later in the week. The 3x ETF service takes advantage of human behavioral patterns and I direct my subscribers to zig when everyone zags, that has produced and 80% plus success rate in 13 months on all trades since inception, this past week no different. We loaded up on the Biotech pullback via LABU and also loaded up on the Tech pullback via TQQQ before they both reversed much higher.
Last year I made several 2020 predictions at the end of December, one of which was Bitcoin would re-capture investor favor and soar in 2020, which it has. I also said the SP 500 would finish the calendar year only a few percent or so higher from close of 2019, so far that is true. Looking forward to my 2021 predictions, but one of which will surely be for Biotech to have a massive up year. This year already the leading ETF up 24% YTD (XBI), next year could smash that.
In the SRP swing trade flagship service, we absolutely smashed it with huge moves in FSR, CGC, TRIT (Formerly NFIN), CVAC, and TFFP late in the week. One of our better weeks for sure. Reason we did well is my top down approach using my Elliott Wave reads said to step on the gas two weeks ago and push trades out at end of October and into November. This has paid off in spades so far and we remain in a seasonably favorable window ahead! I added two new trade alerts late in the week and both should also do well.
Lets keep our eyes on 3800-4000 for the SP 500 ahead possibly by year end. Biotech to break out and move higher and Tech to hold up if not continue higher, I have a 154 low end target on TQQQ in the 3x ETF service and 85 for LABU.
Charts this week XBI ETF, IWM ETF, SPX daily and weekly and Gold Weekly:
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Each week I try to come up with some fresh ideas, repeats as well if they have not broken out yet, or I remove prior ideas if they already ran up.
Ideas: Some repeated if still looking bullish and others newly added
GHLD-Recent IPO, 4 weeks tight close near highs, Relationship based mortgage services etc. (Like RKT)
FIZZ- 4 week corrective base to 10 week line test, moved up last week off this list but still attractive. Non alcoholic beverage maker. Looks close to breakout to highs. (Maker of La Croix seltzers etc)
TSM- 6 week base near highs, looks like a breakout again for Taiwan Semiconductor
HOLX- 16 week overall base, pulled back last week but still attractive, moving up right side for breakout. Develops imaging and diagnostic systems for women, testing 10 week EMA line last week.
BRP- 11 week overall base near 52 week highs breakout, pushed up this past week off our list, but still attractive. Insurance products broker to 450,000 clients
LOGI- 4 week corrective base near highs, testing 10 week EMA Line last week. PC/Gaming peripherals
CROX- 3 weeks tight closes base in solid uptrend. Footwear manufacturer gaining steam.
PKI- 3 week consolidation testing 10 week EMA Line this past week on pullback. Instruments maker, high demand.
APPS- 5 week overall base/correction pattern. Volatile stock, pullback this past week may offer entry near 10 week EMA line. Digital Apps publisher.
PCRX- Ripping to 52 week highs, but could still continue the move. Drug Delivery technology is about to get hot, actually already getting hot.
BMY- 2 weeks tight closing near 42 week highs for Bristol Myers Squibb, re-inventing themselves, PE 10
SNBR- 5 weeks tight ascending base near highs for this Mattress manufacturer (Sleep Number Beds)
DQ- Leading provider of solar technologies out of China. 6 week consolidation near highs, earnings due any day.
YETI- 2 week consolidation at 52 week highs. Innovative maker of outdoor products, coolers, containers etc.
ASO- on my list often of late, recent IPO that keeps trending up. Outdoor sporting good stores.
PINS- 3 weeks tight base near 52 week highs for Pinterest
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