IWM – Stopped Out

• The Stop was pushed up.  See bottom red line for original Stop

XLB – Stopped Out

• Was that not a total Bearish Engulfing bar painted on the 3rd bar from the right?
• I’ll soon find out if my adjusted Stop saved me some money

MDY – Stopped Out

• I entered Long on MDY back in early February
• I set out not to turn this winning trade into a losing trade
• However, I was just too greedy
• The Hammer Bearish Reversal on Friday should have set off a sell signal
• Looking back now, I should have set my Stop more aggressively at high $175.xx
• But hindsight is always perfect, isn’t it?

MOO – Stopped Out

• MOO was a purchase made back in January
• As you can see, my ‘adjusted’ Stop was triggered, and
• It appears that my original Stop was set nicely at the Support Level of round number $53.00

MDY – Will Trend line Hold?

• With 2 consecutive weeks of red bar, I certainly hope that the trend line will hold in this coming week. 

KRE – Bullish Cup and Handle Pattern

• A Cup and Handle pattern that started back in May of last year
• It was finally broken 2 weeks ago
• The bullish pattern is further confirmed by another strong bullish week

$EFA Review

• Moved my Stop to 42.45 level. 

More Reference on Shorting GLD

Kevin posted his analysis on why he is bearish on GLD and his post can be found here.  Meanwhile, my setup for trading/shorting GLD is posted here from earlier today.

Long Term Trade – Setup - GLD

• GLD is looking to test the 40EMA Support Level
• Instead of using the 40EMA as Entry, I picked a round-number of $84.00 instead.
• Protective Stop is another round-number of $88.00
• Target is $72.00 and below.

Chart of Interest - IEF

What do I see?

• Resistance become Support at $92.75-ish level (see white line.)
• A higher Support was formed at $93, which happens to be the 50% Fib. from June low to December high

Action Item(s)?

• None at the moment
• But may consider Long using $93 as Support