Free On the Radar 4-24

April 24, 2017

Good Day Traders,

Overview & Highlights for On the Radar: Great quote today from Tom Sosnoff, “Wealth creation is a derivative of mechanically addressing opportunity.” In other words, have an above average mechanical system and then use it. Takes patience, persistence and perseverance.

Our entries into FAS, TQQQ and COMM are looking good going into this week. Some profits taken so will look for a pullback to add to the remaining position and carry a trailing stop on each of these.

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On the Radar: With today’s opening gap many stocks and ETFs went along with the Indexes and are now extended away from the moving average. Thus, they are not in ideal entry positions. Very pleased with last week’s selection of stocks and ETFs. Each came out of the entry on 4/18 and have either hit our resistance targets or better. With today’s power move on the Indexes we could be in for a few more days of upside both on the Indexes and our current holdings.

I’m leaving the information about the four leveraged ETFs I’m following from past weeks. We can standby on several of them as we move towards the time of year where they start to move. While this has not been a typical year seasonality wise the expectation is that there will still be buying opportunities coming for each in the months defined below.

Gold: Tends to rally in June or July with the rally lasting until late August or early September. This coincides with the seasonal weakening in the dollar. Last year NUGT rose of 150% during this rally. While we do not know if a similar move will take place this year, I will look for buying opportunities in the June and July. Between now and July I would like to see Seasonality kick in. Then I will enter a full positon up to a double position.

Outs & Ins on the IBD 50: QIWI added to the list this past weekend.

The stocks that rose to the top of the Fundamental Sort were: COHR, LRCX, CRUS, AMAT, ESNT, SBCF and NTRI. If any of these setup for an entry, double check earnings date before pushing the “GO” button.