Monday, April 10, 2017

Apr 10 - SPY continues to chop, stopped out of AMBA, potential breakout in URA, still short GLD

SPY and the other indexes continue to grind.  Not much to play here until we move off of the range.  I do think at some point within next 1-2 weeks we move off this range to the upside.  When exactly I have no idea.

Just a lot of chop.  We are in the middle of the range so not point placing bets here.  If the indexes slip a bit, I will looking at biotechs and perhaps XBI calls

URA made a great move.  Found this idea courtesy of Jeff Kohler over at Trading Addicts.  I never would've traded uranium in a million years otherwise.  I am a member of his trading room and he provides great daily commentary and analysis.  A lot of recent plays I have found through his research like BIDU, BABA, LVS, and SNAP.  Highly suggested.

ARNC made feeble move up so this might not be 'the' move
 AMBA did was I was afraid of.  Linger around too long by the apex of this triangle and broke down.  It might reverse at some point but I quickly accepted losses on my calls and moved on.  If it stabilizes I might take another look.
 Still short GLD.

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