Trucharts.com market udpate Jul 25. AMD, WYNN, LVS, INTC, QQQ, AAPL, MS...

Markets and how to use Single Screener on Trucharts.com.

Day trading at extremes and the fastest market bounce back

Day trading at extremes and the fastest market bounce back

Here we are - after being in the shortest bear market ever and the Fed unleashing the biggest money printing spree ever known in history, the markets responded and we recovered from the lows to climb back in the most ferocious fashion.. 

We bounced over 8K points in the DOW and crossed an all time high for the NASDAQ with everyone joining the bandwagon buying left and right - and the biggest short squeeze driving valuations and PE ratios one cannot even fathom..much less explain.. Analysts falling head our foot raising their price targets with no regard to the outcome or their actions... No justifications for their actions..Wow - sounds like the 1999-2000 bubble.. For companies to trade at 10x revenue is now considered to be cheap.... Then we have our wonderful day traders who proclaim they have found the holy grail to making billions and chastising greats like Buffet - you know who we are talking about.. 

These are crazy times with the Fed backing everything - we printed over $2T in a matter of 2 months and it took the US over 200 years to get to that number in debt... Think about it for a second.. We are going to kill the dollar and have severe inflation in the future - and the only safety is owning gold or precious metals. We stand steadfast in our belief that gold will rally to 3000 after the longest consolidation..

Tech stocks like AAPL, AMZN, GOOG, FB, MSFT - the FAANGS are trading at valuations in the TRILLIONS... These valuations rival GDP of several nations combined.... And yet not one analyst comes and says - hey we are in a bubble - those words are uttered by the smallest minority.. What we are seeing will leave the tulip bubble in the dust.. 

This is not over yet and we expect this to move much higher.. Our targets are still in place for DOW to get to 40000 by next year and 4000 for SP500.. Tech stocks will trade at numbers that will be dizzying... So keep buying - we are seeing breakouts even when the economy is not doing well from a consumer perspective... With so many unemployed and so many jobs lost, businesses shutting down - the Fed has basically backstopped the rich and are on the path to making them richer... This will drive housing prices higher and create another bubble in that sector... Long housing stocks.

Again - we recommend these stocks with caution knowing that the trend is still higher...

ZM         - chart here - https://trucharts.com/stockcharts.aspx?TICK=ZM    

PTON     - chart here - https://trucharts.com/stockcharts.aspx?TICK=PTON

BYND    - chart here - https://trucharts.com/stockcharts.aspx?TICK=BYND

NVDA     - chart here - https://trucharts.com/stockcharts.aspx?TICK=NVDA 

Be mindful of stops = only risk money you can afford to lose - day trading is still working well and is very profitable. Along with use of options - the returns are even better.. Use small leverage - no more than 2:1 but keep close stops and watch the charts. 

We are enhancing our site and provide real time quotes and will be adding trading soon.. Keep an eye out as you will have access to our site once you trade through our site zero commission trades, along with unlimited options trading for $30 per month.. Our buy/sell strategies are excellent and work well. But be mindful, these are technical signals only and are not driven by news etc..

Good luck trading.. We will post some new videos soon on how to use our screeners to find stocks.

Trucharts Founder

Bob

Markets Panic amid the corona virus

Markets Panic amid the corona virus

Well, since our last post, markets have gone even further down and have pretty much wiped out the whole Trump elections gains in a matter of two weeks.  We have been warning of bubbles and valuations being absolutely out of control and now reality is starting to come into focus. We suspect margin calls are also exacerbating the selling  We were short and were long some puts and took on some longs today.. Two of our accounts was in an all cash position. 

Still there is risk and we are waiting for some of our indicators to show when buying is safe. The bottom is not in yet and you may see some wild rallies - do not buy - but only use these to unload or do intraday trading - there is lot of money to be made here.. We will see a bottom and it will be very obvious once it arrives and the pent up demand will be huge... So be ready.

if you have not taken profits in stocks that are making money like AMZN, AAPL and MSFT along with FB, NFLX - we highly recommend taking profits.. These stocks have not reached a bottom yet even with the intermediate rallies.. Check out our tweets @trucharts and check out some of the charts we post during the week. We have been short AAPL, SHOP and ROKU.. We closed our ROKU position today.. 

Again - we recommend doing intraday trading and using options to collect and get good premiums. The bottom is not in yet as much as it may appear from the oversold conditions and the VIX.. We may see a short term rally here - but use these to sell.. 

Good luck trading..

Check out our site - for excellent real time charts, quotes and fundamental data along with our excellent screener..

B. Bhatia

Founder Trucharts.com

Volatility and Markets the corona virus effect

Volatility and Markets the corona virus effect

Well what a couple of weeks its been in the markets - the volatility and point moves have been pretty staggering and unseen in the most recent times and not really since the 1999-2000 bubble and also since the GFC of 2008..all from the corona virus.. Point moves in the DOW, S&P500 along with the NASDAQ are quite a wake up call for many used to the markets that have gone up in a straight line since 2019. And yet no one was crying out that markets were in bubble territory from all valuations perspective and higher than the 1999-2000 bubble.. Yet all the analysts kept raising their target prices for already over hyped and over valued stocks. Well the virus came and fixed that - in a span of 4 or 5 trading days all the gains of 4 months were wiped out. Just check the chart below...

The market players and individual investors had become numb to any down moves and were high on everything moving up and were hypnotized by the markets - since every buying the dip was a good move - specially in the big names - the DOW stocks and the most owned stocks by the entire universe of funds - HD, MSFT, FB, GOOG, and you can easily name the whole list.. 

As you can see the markets look oversold and may have some consolidation at this level - around 25000 for the DOW and around 280 for the S&P500. The QQQ (or NASDAQ even though looking oversold - may head lower - we think there is short term risk to stocks like AAPL, MSFT, AMZN and FB - the big movers for the past few months. AAPL definitely moves lower to around 240.. We recommend taking some profits in these big names.

Here are the charts for AAPL, AMZN, FB and MSFT. 

FB looks the weakest...

The DIA chart here is showing resistance at 270 so we should expect a bounce to that level  (around 27000 for the DOW). 

Although the markets have been volatile - it is a great time to make money.. The volatility creates huge opportunities to make money with intraday or overnight trades with the right stocks. Many stocks are moving over $10+ a day and that is a huge bonus to make money. It is easy to find these stocks and these are very standard big names like AMZN, MA, V, SHOP, ADBE, NFLX and many more. We recommend more day trading rather than holding overnight positions.

We really like gold and you can check our tweets and blogs and our call on gold since it has been at 1100 and now has had a move to around 1700 a move of around 40%+.. We still like gold and are long physical bullion and buying more... Our target is 2500 as fiat currencies are failing and in the end there will be some reset as the debts are unsustainable as are the promises being made by governments. We expect INR (Indian rupee to head to 80 per dollar..)

Good luck trading and do subscribe to our site - it is a measly 180 per year (premium) and 95/year for basic membership to excellent REAL TIME CHARTS, QUOTES, FUNDAMENTAL DATA, excellent scanner (screener) along with buy/sell strategy signals - we are working on sending technical alerts via sms/email...and many other features... 

Sincerely

Bob B (Founder Trucharts.com)

After a long time and another crazy market

Crazy markets and bubbles in process:

It has been quite some time since we wrote up our thoughts on where we are on the markets and the latest news.

We have been steadfast in our commentary that this market is a bubble which has grown bigger after Trump's election. Stocks were moving up exponentially and some still are - and we are seeing this in primarily the software companies and this sector is trading at unheard of valuations.  Majority of these stocks are trading at valuations that are reminiscent of the dotcom stocks..

Just go check the list and price/sales ratios of some of these companies - check stocks like TEAM, NOW, ZS, OKTA, SPLK, ADBE, SHOP and many others in this sector. The list is long and we will publish a table of these so you can see this crazy bubble behavior.

Take a look $TSLA - stock moves over $100 per day. Stocks like $AAPL have moved over 80% in less than a year and yet many other big cap tech names are moving in an exponential fashion. This is all a result of the Fed, PBOC, BOJ and ECB money pumping into the system - revenue growth is less than 10% - eps growth YoY is stagnant - yet stocks keep moving up.. Low interest rates and the Fed put are going to make this bubble much bigger - we expect the Dow to go to 40000 and NASDAQ to cross 10000. So for now the tagline is - Just Keep Buying - not a single Fed member has uttered the words bubble - at least Greenspan had the balls to utter the words 'irrational exuberance'. At present, we are way beyond irrational exuberance uttered words with EV/S (Enterprise value to Sales) ratio at the highest level in history along with P/S (Price to Sales) ratios of many companies at unheard of levels - just take a look at PAYC - trading at over 27 times revenue - and the Fed bobble heads - say valuations are little high - I think these guys smoke pot together in a room and get high - Yellen/Bernanke have taught Mr Jay (we cal him Jerry from Tom and Jerry) that bubbles are good and to keep pumping..the money spigot...

So if you ain't making money in this market - guess who is the monkey.. The Fed is giving a hand to everyone to make insane amount of money and if you do not see it - its your fault.. Stocks are being traded by the machines and have become insanely predictable... Go check our site in the screener section and why we run certain screens - these are to quickly identify stocks that we can trade..

Here are the links - we have a multiple technical screener and a single dynamic screener:

https://trucharts.com/drpScanner.aspx
https://trucharts.com/Scanner.aspx

The big industrial stocks are crumbling but everyone in the DOW is moving to stocks like UNH, MA, AAPL and MSFT. Stocks like CAT, DE are trading at reasonable prices - but not from a fundamentals perspective. Make a list and trade it.. hold for a day or so and then sell it.. This is not a buy and hold market. We will do a video and post it on youtube channel and publish the link in an upcoming blog post.

Here is a suggestion - look for stocks trading at RSI (Relative strength index less than 30). Or Bullish MACD crossover stocks.

We are now providing free real time quotes and charting on our site. Check it out and for a small annual fee you can get access to our technical alerts.

https://trucharts.com/StockCharts.aspx - for charts and company detailed data.

Now time to make some $$$$..

Good luck trading.

Schizophrenic markets, Fed Reserve, Powell and markets moving up, FAANG stocks

Schizophrenic markets, Fed  Reserve, Powell and markets moving up, FAANG stocks

Well the man with balls - lost them over Xmas and New Year's eve - you know who we are talking about - none other than good old Powell himself.. I guess he had a good chat with grandma Yellen and good old bubble maker Bernanke himself and suddenly had his balls chopped off for being too aggressive and making the rich poor - oh we feel for the rich!!! What a fucking joke. Markets gyrating 1000 points in a day, 700 points - guess we have to get used to these type of moves. And then we have the blabber heads on TV trying to explain these markets. And non stop talk about the Fed and their constant analysis - just annoying - it would be nice to have a channel where no one says anything. Yet have you heard anyone yet mentioning that the bubble is falling apart. Somehow the Fed roll off the balance sheet is now being questioned after the teachers of Powell (Yellen/Bernanke) made some noise on Friday and everyone was excited. Again we are coming off very oversold conditions and several stocks are bouncing of key moving averages. We like any stock here for the short term - normally all stocks in the indices will move with the move up. so the FAANG stocks are also good for the ride up. Banking stocks look strong on charts - again be mindful - we are talking about some short term moves here and these can be used to trade intra-day and for overnight positions. Obvious names come to mind - FB, GOOG, SHOP, GRUB, NFLX (which moved up and we think it is going to 300). There are many other heavily shorted stocks that also have high betas.

Here is an article worth reading:
https://www.zerohedge.com/news/2019-01-06/ugly-truth-you-wont-hear-fed

The AAPL news was expected - it was obvious based on the suppliers indicating that their biggest customer (as if this was a big secret) was canceling orders - so the news from AAPL should not have shocked anyone and it was also obvious when the stock started falling after the last earnings report. As expected the stocks dropped and the once darling of Wall Street lost a total of over 350B in market cap value - that is the whole market cap for FB - and we say the markets are not over-valued or expensive - this is actually happening - everyone is in equities and the ETFs do not help - we think ETFs should be banned - these distort markets and are really another way for Wall St to just make more money. How are these different from mutual funds - there is really no difference.

AAPL will need to change its approach on the next generation phones and there is nothing new on the horizon and specially this paying $1000 for a phone days are over. These companies need to start realizing that after a certain point - (same as computers) - people are not going to pay up for small feature improvements and there is a lot of competition in this space. Competitive phones are cheaper and better. A good phone should be no more than 500 - yet all these companies keep pricing themselves out of the markets. As you can see Samsung and AAPL are losing market share to Chinese competitors all around the world and we expect that prices will trend downwards as we may have reached the peak with IPHONE X.

There will be backlash as ordinary customers will stop paying these high prices being pushed onto them. This is going to be the next computer - lots of competition and prices will start to come down. There is a lot of buzz around 5G - we expect some noise around this - but it will be short lived. Prices will not be going any higher from here on forward. This means it will impact margins not just for AAPL, Samsung and others - but also their downline suppliers - they will be put under pressure on component pricing.

We would trade the markets here as earnings season is upon us - watch the man without the balls now - Powell - who changes his tune every couple of weeks. He is like a management trainee..

We are expecting to launch our new revamped site with new features and buy/sell directly from our site towards the end of Jan - slight delay to our original planned date.

Time to go and make some money.. Good luck trading.

HAPPY NEW YEAR 2019..

Trucharts team/Founder (Co-founder Jetstox.com)

The Fed, the markets and tech stocks - FAANG - NVDA and others

The Fed, the markets and tech stocks - FAANG - NVDA, FB and others

Well the Fed showed that it has balls and is not dictated by markets or politics - and this is what would be expected if they are truly independent and focused on maintaining their mandate of full employment and low inflation - the previous two Fed generals or chairman/chairwoman did a terrible injustice by not raising early enough and leading to a massive ALL asset bubble - not just in good old USA, but all over the world. We were not aware but Chairman Powell has been an investment banker and a hedge fund manager. We hope he saw that the bubble was brewing in the markets and that valuations were truly over extended to a level that matched the 2000 bubble. Along with this we have a massive debt issuance from corporates that are rated at grade "BBB" - when companies issued bonds at cheap rates and this number has ballooned to $4T (yes TRILLION) from 1.5T in 2008. Watch the FAANG stocks - these are broken..

We have provided here a link for a very good article from Mauldin economics (one of the better ones written) - 

www.mauldineconomics.com/frontlinethoughts/powell-the-third-mandate-the-new-fed-and-crawdads - Check it out - it has some really good data.

We are down a mere 6% and everyone is panicking - imagine that - a mere 6% and apparently a growing economy (bustling as they say) - where it cannot handle a Fed funds rate of a mere 2.5% - what is wrong with a 2.5% fed funds rate - that is just 50bp over the 2% mandated inflation rate. Really - how is that our wonderful economy cannot tolerate such a normal Fed funds rate.. All the idiots on CNBC and Bloomberg - are nothing but a bunch speculators who have never experienced a bubble.   As we mentioned in our previous blog post - not a single soul has mentioned the word bubble - or how truly overvalued the markets are still - even after this pullback. We also stated that bear market rallies are fierce and vicious - so watch for many more of these in 2019 - but the trend is still down and there will be a reversion to the mean - it is called the law of nature and physics. Drumpf panicking as is Mnuchin - such morons.. Do check our comments on our last blog on how tops are marked with 3 different events.

We would like you to refer to our previous posts on stocks and why these were overvalued - stocks like NVDA, ALGN, ADBE and NOW. Check the charts we had posted and we are still recommending to sell these if you are making money. NVDA and ALGN are both down over 50% - and do you recall the analyst who upgraded the stock at 290 along with the analyst who upgraded ALGN. Well these guys still have their jobs and the stocks are down over 60%. We picked ADBE as our next big short - as it has a market cap of over 100B - for a company that does only 10B in revenue - what is that - a P/S of 10x.. Again overvalued and over hyped stock. We keep track of our key indicators and our indicators are saying there is more downside and there will be rallies on perceived good news and from oversold conditions - but these will be rallies to sell into. Here is our updated short portfolio;

We are still recommending shorting HD and LOW - the retailers will have a tough time in 2019 and this is being reflected in their stock prices - shorting Macys (M) would be a good idea here.

Again we will are in process of revamping our site - expect to launch in January - new features along with direct trading from our platform. Can't wait..

We want to wish everyone a merry Christmas and Happy New Year and wishing everyone good luck in their trading and some sound advice - to stop listening to the bozos on TV - Cramer, CNBC and Bloomberg. Too much analysis and non stop gibberish. Do your own work and analysis - it does not take that long to make sensible decisions.

Trucharts.com Founder

Our top short picks and markets

Our top short picks and markets

What a roller coaster - down 700 point and then up 700 points, we have had one of the most volatile periods since any recent memory in the markets. But we said in our last article that bear market rallies are fierce and vicious - these happen to shake out the weak, but the trend does not change - it happens to suck in those who think markets are bouncing back and going higher - this picture has been played before many a time. Basically what happens after a long period in these type of bull markets, where every dip is bought and things go back up again. The mindset of the investors and many becomes complacent and it is like becoming habituated or trained and maybe even numb to any volatility. On top of that if you add all the sound on TV, news and articles - you seem to be lulled into the fact that it is all OK and you can just keep buying - it will always go higher. We mentioned in our last post - it is like being at a party and everybody is high and drunk - no one knows what the hangover will be like. We recommend you read this article and it echoes our sentiment on housing and credit bubble:

https://www.zerohedge.com/news/2018-12-08/everything-bubble-has-popped

We are witnessing people reducing prices in one of the most hyped up housing places in America - California - specially Bay Area where folks were tripping over each other to buy houses - overbidding with cash offers was a common staple.. Now we are seeing price reductions ranging from a very low percent all the way up to 40% reductions - UNHEARD OF IN Bay area - we are staying with our prediction of the coming 30% price correction in California and Bay Area.

We wanted to also show how tops in some stocks are made - this always happens when companies build monuments to their success - good examples of this in our present era are - guess - NVDA, AAPL, FB and CRM - this tells us the story in these stock is also over.. So sell these while you are making money.

If you recall we have been steadfast on our call on NVDA stock being one of the most over-hyped and over priced semiconductor stock in the history of the markets (as much as we missed the bull run in the stock) - we stayed with our call on shorting it all the way up. As we stated sometimes it requires a lot of patience - the stock was trading at the highest P/S multiple ever. Well the markets finally spoke and the stock has crashed over 50%. We think it is going to $80.. Another over-hyped stock in our short list was ALGN - what a joke - stock went from 80 to 400+ - we said short it - and as of Friday the stock has crash 50% - think about that 50% - it is now at 200. The stock was trading at a P/S multiple of 17-18 - so for every $1 in revenue - people were willing to $17 - what a fucking joke. We were long puts and made some good money.

Well we want to bring to you our next top short picks - if you make some money - at least give us some credit and subscribe to our site - here they are - LULU, HD, ADBE and NOW. ADBE is trading at a P/S of almost 14 - Market cap 114B and 8B in revenue (ridiculous); NOW trading at 17 P/S ratio - 2 B in revenue and market cap of 33.5B; HD is a call on the housing slow down - just short it - over priced - we expect their earnings are headed lower.. LULU another retail dump stock and over hyped. We have other plays but these are on the top of our list. We are still short and hold shorts on these stocks in our account except HD for now - we will swap TXN short for HD short.

We like gold as it has been holding up and cash as a holding - gold has been moving up and this is telling us that there is some event that may occur which will impact the markets - maybe Deutsche Bank (DB) - it is not clear. In addition this has been a market for traders and not investors and it will stay the same for the foreseeable future - there is money to be made for the last few weeks via via intraday trading. So stay on your toes and again - this is not an invest-able market - majority of our accounts are in cash and we published our short and short/long portfolio on our twitter handle - @trucharts.

We do not do FB - but do post on twitter our trades. One additional prediction - FB will not be a company in ten years.

We have an incredible deal coming in Jan on our site www.trucharts.com  - stay tuned..

Good luck trading.

Founder and Trucharts team

Tech Stocks - Alibaba (BABA) and China/Semiconductor Stocks Updated/Fixed for fonts

Tech Stocks - Alibaba (BABA) and China/Semiconductor Stocks

First disclosure - We missed this bubble and are really upset that we missed it - made money in the last two bubbles but did not see this one even though it was staring us straight in the eyes. But this was an important lesson learned and a very expensive one at that. We missed many amazing stocks and that is what upsets us the most.. Truly disappointing..

Now back to the markets:What a run up - absolutely amazing - it was a classic up move from a huge pullback from earlier in the year. Every stock was just going up, up and up. There was no stopping the BULL train and indices hitting new highs - many stocks hitting new highs - company valuations crossing $1Trillion - bigger than the GDP of many nations put together.. Yet not one analyst or talking head or journalist (except that 1%) were willing to utter the word BUBBLE. New startups being valued at numbers that exceed the 2000 bubble, funding at levels not seen even in 2000 - Idiot Masayoshi - raising 100B funds like candy.. These are the signs of bubbles - not a single soul is scared or even concerned - margin debt at all time highs. P/S of companies at records - companies making no money being funded as they are going to make BILLIONS.. We have to say these are all signs we have seen and witnessed before and these never end nicely.. We have become addicted to bubbles and we have now perpetuated 3 within a span of 18 years - that is unheard of. Massive money printing and FOMO amongst the VCS, the investing public and machines doing the trading has led to this excess of massive proportions. There is not a single day when a company is going public - which is a sign the smart money (VCs) are cashing out - while everyone is high and drunk.. Some examples of stocks trading at ridiculous P/S - NOW - over 18x P/S; ETSY - over 14x P/S; and there are many more. The numbers of companies trading at these type of valuations is absolutely staggering. And every new company has now a valuation above $1B - it is an absolute joke - NVDA trading at over 170B market cap and P/S of over 15 for a semiconductor company - that is unheard of in the history of semi companies. Full disclosure - we are short NVDA.Here is a comment from ex CEO Scott McNealy from good old Sun Microsystems which eventually went out of business: read the words - they are actually amazing from a valuation perspective:



Anyway we can go on and on and now the 10Y Treasury is yielding over 25 bp over 3% and heading higher. Housing bubbles are cracking in many parts of the world - India, Australia, Canada, Hong Kong, New York, Denver and many other locations are starting to breakdown from this incessant building of homes and apartments (flats as they are known abroad)You can only blow a bubble so big before it eventually explodes.. And the Fed and the world are all addicted to bubbles. We have huge issues with pensions all around the world - debt to GDP ratios at extremes and student loans, auto loans (with high car payments ever and highest number of payback years). Credit card debt at extremes and everyone is loaded with debt - this is unsustainable. The Indian banking system which was flush with loose money and corrupt insiders is now unraveling at a rapid pace and the INR is dropping to record lows while the markets are finally coming down. We think there may be a reset - do not know when and how - but something has to give because we have gone past the limits of what makes sense. It would have been better if the central banks had a good plan and approach to the crisis and managed it in a much slower and better fashion - but that is not what happened - they turned on the tap at full speed and now what we are experiencing is the overflow effects with no control left. It is like unleashing a monster.. If they would have taken a slow and gradual approach we would not be where we are today - staring down another bubble.. Unfortunately we want quick fixes and have been addicted to these bubble methods - which in the end always lead to busts.. This bust will last longer then anytime before and it will not be pretty. Just wanted to pen down our thoughts this week.We would sell the stocks like BABA - broken down and many tech stocks are finally breaking the 200d SMAs (some have already done so and have gone down since - look at MCHP and now we expect the same for TXN and BIDU etc.) So buy and hold works great when everything moves up in tandem but fails when things go sideways and/or start to breakdown.. We will update more next week. We are recommending short on ETSY and ROKU.

There is some exciting news coming from our site/platform - keep tuned..Good luck trading.

Founder Trucharts.com/Co-founder JETSTOX.com 

Do we keep buying or sell here..

Trucharts Blog 8/24/2018

Do we keep buying or sell here...

Such a conundrum buy or sell. Stocks keep moving up on the Nasdaq - this is very reminiscent of the 2000 bubble - the Dow Jones moved up first, stagnated and then the NASDAQ took over. We are seeing so much froth - in all stocks and at prices that are exhibiting absolute bubble characteristics. But yet stocks keep moving up - and we believe this may be driven by FOMO and central banks seeing the US economy as strong and buying stocks - think about that central banks buying stocks. Never has that happened in the history and ever since central banks have been in existence - money printing has become the norm and no longer an exception. Risk metrics are being thrown out the window and the predictions are getting frothier each day as if there will be no event that will kill this bull market. Valuations for all metrics are at the highest ever and yet there is not a sign of even a single bear on TV. Just run a check on price to book and price to sales along with PE screeners and you will see what we see as the most frothiest market ever. Every deal is getting funded and VCs are raising funds at an unprecedented levels. Everyone is an investing genius when all assets are moving up.. Very typical behavior at the top of bull markets.. You can never call a top until all leading stocks start breaking down.

Anyway - that was a short treatise on our thoughts as to where we are in this stage of the longest bull market in history. We are witnessing one of the biggest bubbles - and we do not know when or how this will end. In this market a $10B market capitalization is considered to be very low. Companies like VEEV, NOW, ALGN, and many others have revenues of no more than $2.2B but their market caps exceed over $78B - total annual revenue for these companies - $4.7B - so the multiple is - 16.59 - so for every dollar in revenue - people are willing to pay $16.59 - hmm - and the Fed says there is no bubble or folks come on TV and say - it is all great - bubbles are made this way.. 

On another note - marijuana stocks CGC and TLRY are trading at P/S of over 150 - so people are paying $150 per ever $1 of revenue - TOTAL MADNESS.

But these thoughts aside, we know this is an excellent market for trading and making money on a short term basis and also by the use of options or intra day or even from day to day trading. We are seeing machines doing a lot of the trading based on very elemental trading signals and this tells us that fundamentals do not matter - no matter what anyone is saying - there is froth, technical trading and money is being made at a frantic pace..

Using options or put spreads for stocks that are moving sideways or are in an uptrend is a very good way to generate income on your portfolio - candidates for these type of spreads would be CAT, DE, EA, IBM, ATVI, MNST, QCOM, INTC. 

No charts this week but checkout some new features on our site like our dynamic screener at with multiple options for screening:
http://www.trucharts.com/drpScanner.aspx

Our single variable scanner at:
http://trucharts.com/Scanner.aspx

We are planning to go long BIDU, EA, QCOM and INTC. We are heading into the AAPL announcement in September so you can be long stocks supplying to AAPL - like IDTI, INTC and others.

Good luck trading - check out our buy/sell signals on our page http://trucharts.com/Stockcharts.aspx

Subscribe and get access to all our features along with notifications..

Good luck trading.

Trucharts Founder

Fed testimony, Markets, Tech Stocks and Backtest feature on our site

Fed testimony, Markets, Tech Stocks and Backtest feature on our site

LATEST UPDATE: Yellen dovishness sparked huge market move and tech stocks came off oversold conditions. Revenue growth is not there - but we are in bubble mode. We like the following pair trade - Long NFLX calls, Short NVDA. VIX is at all time low and volume in markets is also low - therefore the grind higher. Keep tight trailing stops. SP500 is going to 2500 and DOW to 22000. No stopping this bubble - we like also KLAC and AMAT. BA was our top pick and we still like it.

Brief update on the markets and Yellen testimony. 

Well looks like the squirrel went back into its hole - Yellen and the central bankers are now clueless as to what to do - one moment they are hawkish and then the next two weeks they become dovish. They are so scared now to raise rates, that they have just completely given up. They talked about reigning in the monetary stimulus via draining liquidity from the system by selling their assets on their huge balance sheet of over $4T - loaded with mortgage backed securities. They want to start this in September and increase that as they go along. In addition, Grandma Yellen also indicated that she may not be raising rates (of course that would increase our debt burden) T aggressively - the markets rocked up in a straight line, dollar crashed but gold was up slightly. Basically the Fed is saying we do not care about the bubbles, asset valuations and whatever else the loose monetary policy has unleashed in asset bubbles around the world. Case in example - do you know that the Indian stock market is up over 1000% - yes 1000% - in 14 years - no one is mentioning that the Indian banks are drowning in NPLs - but yet the market is up over 1000%. PEs and company valuations in the US are at levels not seen since the 2000 and 2007 heights and moving higher. But the central banks do not care as this is making the rich richer and the goal is to make the average guy feel richer. Nasdaq is out performing and we are heading into earnings season for Q2 - we will have to wait and see how the companies manipulate their results using financial engineering and stock buybacks etc. Oil has been crashing - we had predicted that and we will have to wait and see how that plays out. Tech stocks are rocking and rolling like there is no bound to valuations and PEs - sounds like the 1999-2000 bubble times (i remember those days very distinctly). FAANG stocks are rocking and we like NFLX and AMZN. FB is breaking out and we need to watch carefully where it goes. We like BABA, QCOM, BA, CAT, LLY, AAPL and are short NVDA. Airline stocks like UAL are about to breakout and rail stocks along with defense stocks look good. Even though there may be issues with the valuations etc., these do not matter as we are in full bubble mode - in Bay area people are over bidding on houses by over 350K with multiple offers - exactly like 1999. We expect this to continue. In addition, we are not seeing any real technical weakness in the markets other retail and oil stocks. We also like EEM as merging markets are doing well.

Always put a stop limit loss of 5% to 10% below 50d SMA to limit your loss or gains in case there is a crash. Check these values on weekly charts also - like 13 week and 20 week SMA.

Also spend your time to learn how to trade options - it helps to reduce and improve your portfolio risk and return.

Do read the following: http://www.zerohedge.com/news/2017-07-13/global-stocks-hit-new-all-time-high-after-dovish-yellen-strong-chinese-trade-data

There is a very unique feature on our site - call backtest and we use it for checking certain technical analysis parameters for many stocks to see which yield the best winning results. Here is an example for stock Facebook or FB and you can see one of our trading strategies generated a buy signal on 7/7 and the results showed that this was a very strong signal for FB and it yielded 7 winners and 1 losing trade. So there was a very high probability that the signal would yield to higher prices and sure enough the stock moved over $8 in 3 days to 159. See the snippet of the testing below:

It is tested over 600 trading bars and the results are amazing. We will be restricting use of this to paid subscribers only very soon and you have a chance to test it out. You can also check out our videos on youtube - links are on our site - www.trucharts.com.

Good luck trading.

Fed meeting, gold, tech stocks and where we are headed

Fed Meeting - Fed stance, Gold and Where markets are headed

So the Fed meeting was over last week and they raised the rates by 0.25bp. In addition, indicated that they need to start winding down their balance sheet. Whoa!! Is Grandma Yellen and the Fed waking up to the scenario that they are the primary cause of the bubble - well surprise, surprise - they and all Central banks have co-ordinated this massive bubble and they have no idea how to truly unwind it. Stocks are trading at ridiculous valuations and at levels above the 2007 peak. The 1999-2000 peak was a real bubble of truly massive proportions - but we are now in an all out massive bubble in all assets except gold (maybe).

Tech stocks are valued at the highest EV/Sales ratio, high PE's and the insiders are cashing out. Does that sound familiar? Right now machines are trading and there we believe will be the catch 22 and the main risk. We can tell via our intraday charts when machines kick into the trades. Right now machines are running the show and there is very little human intervention. In addition, complacency is running at lows and we expect this to stay this way possibly through the summer.

We had predicted that the DOW stocks would hit new highs and many of the big names are hitting new highs. Our prediction of Dow 21500 was met this week and we do not see any reason for now that would not allow it to move higher.

We trade on technicals and these seem to be working very well - as we think the machines are programmed to work on technical signals. This is another reason to use our reports page to identify stocks that meet certain technical criteria.

So which stocks do we like - and how does one protect your portfolio.

Based on our analysis, we are seeing a move into the Dow component stocks and big names. We still like AAPL as it is cheap 0 but we would wait for a nice pullback before taking a position. We like BA, MDT, JNJ, CAT and DE. These are looking strong. 

We would take profits in tech stocks as we thinkthe tech cycle and bubble is over and although we may see signs of a rebound - we would sell into the rallies. There is definite rotation going on and tech is not the place to be at least for the summer or until the IPHONE 8 announcement happens. We are short NVDA and will stay short. We are long puts on NVDA also. 

We believe that the Fed is on a tightening and liquidity draining from the system and this will result in a profit taking in tech stocks as these are overvalued on all key parametrics - except for AAPL. In addition, please keep tight stops at around 8% to 10% or at 5% below 50d SMA depending on your buy price.

Check out our site - we offer AI based trading algorithms with clear buy/sell signals, end of day technical reports which work great to find good stocks to trade or buy.

We do not like gold as the Fed is in tightening mode and draining liquidity.

Good luck trading. 

Check out our site tour youtube video at -  

https://www.youtube.com/watch?v=dFC5iVaTkQY

Friday's Nasdaq Tech Bloodbath

Blog 6/10/2017 and 6/12/2017 

Trucharts.com

Was it a tech carnage or not?? Friday was a huge rollercoaster ride but we made out really well!Well, Friday started out like a good day in the markets with many of the FAANNG stocks hitting new highs and then reversing ending lower. AMZN moved around 100 points and we were very fortunate that we had closed our puts and were long the lower puts on many stocks and all of these made us some really good profits.We have been short NVDA and are staying short - we know this is a bubble stock trading at ridiculous valuations. Many of the stocks on the NASDAQ have been going up non stop in a straight line up with almost no end in sight - it looked and still looks like the bubble of 1999-2000 with a different feel. Everyone feels invincible and like a investment pro. It is all easy to think that one is a genius in investing when making money is so easy. It is days like Fridays when folks start getting margin calls that we see selling and then everyone tries ti buy the dip. We will have to wait and see if buying this dip makes sense. 

Now there was one key thing we had noticed on Thursday even when stocks were moving higher - MSFT was acting weak and that was a sign that something was changing. Everyone in the midea and online (CNBS - Cramer) has been harping on and on about NVDA - a chipmaker which momentarily reached a market cap of 100B - yes 100B and selling at price to sales ratio of around 12+ - no semiconductor company has ever traded at such a huge multiple or valuation. Also it is very common to see when stocks are high flying that analysts and idots on TV come out and try to justify the valuations of such stocks - vocalizing terms which they have no idea about like AI and VR etc. NVDA is a chip company - end oif story and their sales will never ever reach the lofty valuation it carries. NVDA is primarily a graphics chip company with lot of competition and this is a very hyped stock. We highly recommend taking profits, if long, and we are short and long NVDA puts.So what happened Friday tech stock bubble - we think there is a shakeout that took place. Technicals are still strong and until we actually see real technical breakdowns - we have to count it as a shakeout. In addition, it would be prudent to take some chips off the table and ring the bell on profits. Many of the stocks bounced up from their 20day and 50d SMAs. Very typical when machines are running the house. We can expect some bounce but we are also seeing rotation out of tech stocks, which we mentioned have been going up in straight line fashion, into energy and other sectors. 

Financials were strong but we still think this was a dead cat bounce. We like BAC and some financials, in energy we like beaten down names like SLB for short term plays. We also like some retail names - short term trades - GPS looks good. We would short SBUX, NVDA and LRCX. Although the real technical weakness or clear breakdown is not evident yet - have tight stops above at recent high. We suspect there will be some bounce back and maybe this was just a shakeout. We will have to wait and see confirmation - as there were no breakdowns below 50dSMA. NVDA was a classic textbook climax high reversal.

Financials were looking strong as these were oversold and oil bounced with gold closing lower. We need to watch for follow through on these next week. GPS chart looks good and we are watching BABA to see if it consolidates here for a breakout.Monday was a nice bounce back day. Many good formations on charts - need to watch closely - still short NVDA.Good luck trading and checkout our video on youtube and follow us on twitter (@trucharts). We will start posting more videos on youtube on how to use our site more effectively for trading decisions. Do subscribe - it is only $10 per month for full year subscription.

B. Bhatia
Founder - Trucharts.com

Happy Post Thanksgiving Blog - Markets and where these are headed going into 2016?

Happy Post Thanksgiving Blog - Markets and where these are headed going into 2016?

Started writing the blog in Hong Kong and now continuing to write in Singapore (a truly amazing city - so clean - it is like spotless). Still writing (now from Singapore lounge - Hong Kong airport is soooo much better).. 

Schizophrenic markets controlled by Central Bank speak and driving us crazy.. Down one day and up another just because of Central Banks (specifically Draghi - he is becoming such an annoyance) - Eurzone economy sucks - just suck it up and go home. What a waste of time. Well we had two days of trading on the downside and after the stupid huge ramp on Friday, because of options expiration and Draghi speak, we still expect the markets to stay range bound due to Q4 seasonality and technically weak. Energy stocks are crashing and our theme has been consistent on the energy stocks - stay away from these and our target for oil was between 35-60 - now we are at the low end of this range - tough to say where it goes - commodity complex is crashing and I was told that folks who bought real estate in many places (folks who were in the commodity business) are trying to dump their real estate holdings to pay off debts and get liquid. The COMMODITY boom is way over.. What happens to gold?? This will be tough sledging for gold with rate hikes coming. Negative interest rates in the Eurozone - who ever thought we would have negative interest rates - these are truly amazing times and the printing binge is not ending - then Saudi Arabia just secured financing for the tallest building in the world - Who the fuck wants to live in Saudi Arabia other than the fu%$$ng Arabs in such hot weather and crappy place. Having lived in the Middle East for a long part of my life - I hated every minute of it there. Someone's ego needs to be stoked - Alwaleed Bin Talal!! Ridiculous - this country is going broke and they are worried about tallest building in the world. Such BS..These people will never learn - they are here to just stoke their stupid egos.. 

Finally able to write freely after the stupid censors and blogging restrictions, 2 days of overcoming food poisoning in China - makes you wonder how is this country going to really move into the 21st century if it blocks freedom of speech, gets away with human rights violations and yet we welcome it everywhere - sounds too hypocritical to me. But, the progress in China is unbelievable - they keep on building - i think I counted over 500 cranes (since I was bored) in the taxi from Dongguan to Shenzhen. Crazy. There is no stopping the real estate train in China - not happening..Who knows where and how this will end - but right now it keeps chugging along. Travelled to India on this trip another crazy place with so much traffic, pollution and no control - and yet people keep talking about the Indian economy growing - where - it is predominantly driven by real estate, black money and infrastructure sucks, loans are defaulting and banks keep lending. The world is going crazy with the carry trade and there is no telling what the outcome is going to be. Right now everyone is acting like a drunken sailor and there is non stop money printing going on with no end in sight. Sounds like the good old Roman empire days..Well thanksgiving was great for the markets and black Friday looked good except online buying was even stronger. Then Yellen spoke and we had two down days right after that markets bounced on Draghi speaking.

It is typically a strong part of the year for the markets so you would have to buy the dips here - in strong stocks, typically Q4 is the best performing quarters and with quite a bit of under performance this year for many funds including hedge funds, we would expect a run on stocks going into the end of the year primarily in the big names that are holding the markets up - what we call the Trojan horses - AMZN,NFLX,GOOGL,FB,BIDU,BABA, and many others in this list and also top names that are underperforming this year will be picked up just to show good or at par performance relative to the markets - so our position would be to go net long here in the big names and ULTA also fits into that list. We stated in our previous blogs and on twitter that we liked the tobacco stocks(MO and PM) and LLY. We were net long the market with these stocks and these performed well for us. We have been short puts on YHOO - we like the idea of the sale of the core business - stock could go to 40.

Please do check out our site for our great buy/sell signals - we have been posting the charts on twiiter (follow @trucharts) - we have some amazing buy/sell signal strategies and we followed them for the energy stocks and that saved us a ton of money - specially stocks like SDRl, RIG, XOM, CVX and XLE. 

For 2016, we expect huge challenges for the markets due to lowered earnings and there is lot of technical issues with the markets that do not suggest a higher market - narrow breadth, leadership and overvaluation in many sectors - tech specifically. We would stay in some consumer staples with dividend stocks and stocks which have proven earnings power and options for hedging.  AAPL going into Q1 still looks good - but we would would hedge our position. Watch VIX closely - whenever it shoots to 30 - 40 range - start buying and we would sell biotech here - biotech bubble is over. Good luck trading.

Trucharts Founder/CEO and team
BB

Best October Market Rally, Do you Buy, Sell or Hold?

Best October Market Rally, Do you Buy, Sell or Hold?

Trucharts.com Blog update week of 10/26/2015

Well again due to some business commitments we were unable to update our weekly blog for over two weeks now. We are finally back and updating our readers on what has transpired and with all the financial media going nuts over the best October rally, we have to sit back and see what to do next and plan for Q4. Check out our site for the best buy/sell signals for stocks and just apply it on BABA stock and you will see why we went long at 62.. Go tot the stock charts page and click on the Trucharts Trading Strategies bar - seen in red below and you will get the different trading strategy options to apply to the chart - (please read our disclaimers - please do your due diligence and consult with your financial adviser before making investment decisions) - this is for information purposes only. We offer this to our paying and free subscribed users only. You can try this on VRX and you will see it generated a SELL signal around 220.

There is no doubt that the rally was expected. We had discussed this in our last blog and our updates via twitter (twitter handle: @trucharts) and on facebook at (https://www.facebook.com/truchartscom-273554162830234/) - we expected S&P to reach around 2100, DJIA to reach around 17800 to 18000 and that is exactly what the indices did during the October rally and with earnings season in full force - markets responded to stocks with good earnings. We believe that this is a short lived rally and even if we hit new highs, we would sell into the rallies. Markets are not significantly overbought yet so we expect some sideways movements in the indices. The Fed spoke (amazing) and now that they realize they are well behind the curve in raising rates, the again tried to spook the markets by indicating a possible rate hike for December. Markets are in bubble mode - real estate along with it and it is not just here but all around the world. We have bubble blowers and Central banks printing money while earnings from companies are drying up and not even meeting lower estimates. The Wall Street gang plays this game beautifully, lower the estimates and when the companies report slightly better results, the street starts their cheering. One has to look through the numbers - but from a technical trading point of view you just have to be ready to trade based on the earnings announcements. Here are some charts for the S&P , DJIA and a chart we pulled from a very interesting article on M&A activity which typically tends to peak around market tops.

ADDED: Another good read:
http://www.zerohedge.com/news/2015-10-31/quick-bull-vs-bear-case-8-charts

Link to article: http://finance.yahoo.com/news/ubs-beginning-end-bull-market-131106708.html 

Source Bloomberg/UBS:

From the charts below for SP500 and DJIA we expect sideways movement and possible new highs into Q4 due to a typically strong Q4 season for the markets and we would lighten up into this sideways and possible upward movement. We would not hesistate to write covered calls on long positions. We have done that already for many of our accounts. Many tobacco stocks appear overbought, so we would either sell these or hedge with puts or reduce cost basis via covered call strategy. We are long PM and LLY. Our MRK position got called away.

As you can see the MACD is getting extended as is the RSI reaching overbought conditions. But we expect this to last for sometime with minor pullbacks and sideways movements.

 

We would lighten up on biotech stocks and health insurance companies. We believe that Obamacare is a total disaster and will very likely get repealed if the GOP takes the White house. The premiums are unaffordable and we are seeing several co-ops going out of business due to high costs and then the insured are being put into a situation with no coverage and high costs. We believe this will not end well and there will be a new wave or change in the healthcare system in this nation. The current scenario is not sustainable and is designed heavily in the favor of insurance companies and drug companies. We also think these insurance companies may have reached a peak in their earnings cycle. Our net portfolio is short tech stocks. AAPL seems to have peaked and we do not expect any major move in AAPL - we still like NFLX - as Q4 is a strong season for them.

Good luck trading.

Trucharts team

NASDAQ,DOW and SPY where are these headed? What to do with your portfolio? Trucharts Weekly Blog

Trucharts Weekly Blog

NASDAQ,DOW and SPY where are these headed? What to do with your portfolio?

Sorry that we were unable to publish our blog last weekend due to some family commitments. Well the Fed speech impact was short lived and then volatility picked up in the past week and the biggest standout was the biotech sector which had driven up the NASDAQ to its 2000 highs and everyone on TV was still bullish on biotech sector. As much as we like some stocks in the drug sector and the biotech sector, the valuations were not justified - in addition, we were seeing heavy insider selling in many companies. Many biotech companies with no revenues were showing exponential charts and if you recall how we warned about exponential charts - these always are a bad sign of things to come. Just check out some of the high flyers in the biotech sector. We were also seeing weakening technical signals in the ETF IBB when it was hitting new highs.

Check these stocks:

www.trucharts.com/stockview.aspx?TICK=BLUE
www.trucharts.com/stockview.aspx?TICK=ICPT

www.trucharts.com/stockview.aspx?TICK=PBYI

and then there are many more in this sector that would move on the smallest drug news. Absolutely ridiculous. We have been saying to keep and eye on the 50 week SMA for ETF IBB (which we have been short), and sure enough once it broke the line in the sand it cascaded down and now it is a pure short. We are stil short but we are long BIS (short ETF) which closed for the first time above 50 week SMA - here is a comparison chart (IBB vs BIS). Check the BIS volume - highest ever.

We also have the chart here for the buy/sell signals for IBB on weekly chart - see below (this feature is provided to our registered/subscribed users). We think IBB is headed to around 260 - 280 range. There will be margin calls on folks who are long biotech stocks.

  



Now where do we think the markets are headed - gold moved up after Godmother Yellen spoke on Thursday that rates would rise in 2015 and markets were up in on Friday early and then pulled back later in the afternoon. We believe the institutions are moving into the comfort of consumer cyclicals, staples and high divided yielding stocks in sectors that are still strong. We are concerned that we may see dividend cuts in the stocks of oil companies - just a guess - but with oil down - there is no way these companies can sustain such high payouts. In addition, we expect massive layoffs and the oil states economies will be affected (Texas, Louisiana and others). We like NKE after their earnings report. We hav been playing with NFLX and are short FIT/GPRO (valuation too high). We expect the DOW to stay range bound 15000 - 17000 for some time here, SPY is headed to around 1750 - current price is 192.85. We would be very careful here - SPY and DIA have broken 100 week SMA. 

China slowdown has now shown up in 2 major equipment suppliers - JOY and CAT. CHina is definitely slowing down and we have to see if they are headed the way of Japan. In addition, the central banks are still running loose with money printing and it seems to be helping the top 1% only. Brazil is going to the dogs with its credit rating cut. The rates for 10 year bonds in Brazil have shot up to 16% - want buy some Brazil debt - anyone? We would stay away from these stocks. We like gold stocks - but we need to see high volume breakout - we are not there yet. We encourage to write covered calls on your positions - that is what we have done and that has protected our portfolio. The trend is down. The ony thing in favor of the indices is the RSI is oversold - but needs to consolidate. Here is weekly chart for SPY:

Check out our site features at the best subscription rates in the industry and on the web:

http://truchartscom.blogspot.com/p/why-is-trucharts.html

Good luck trading.

Stay nimble.

Trucharts Team and Founder/CEO

Markets - What to do now? BUY,SELL,IGNORE,HOPE & PRAY

Markets - What to do now? BUY,SELL,IGNORE,HOPE & PRAY - Trucharts.com Weekly Blog Update - week ending 8/21/2015

Well we finally are getting some excitement in the markets.. Before we get into the gist of our discussion today after the amazing week we had - where the DOW plunged over 1000 points and VIX (volatility index) moved up finally, we would like to list the key viewpoints we have been discussing in our past blogs regarding the market action:

• There has been sideways movements with triple digit moves every week (9-12 weeks)
• Markets have been exhibiting very clear topping action
• Narrow Breadth, narrow leadership, New Highs and New Lows ratio skewed to the downside
• Oil and commodity complex crashing (we said oil dropping was a big deal)
• China - China - China - over mired in debt and capacity in all sectors
• WE HAD STATED THAT CHINA WILL HAVE NO CHOICE BUT TO DEVALUE AND THAT IS EXACTLY WHAT THEY DID - IT WAS THEIR DEFACTO STIMULUS AND WE EXPECT FURTHER DEVALUATION OF THE YUAN - headed to 6.7-6.8 to USD range
• Transports sector down
• We have been saying sell into any rallies, take profits and hedge your positions
• DO NOT listen to the talking heads on TV - it is all BS
• NASDAQ was being buoyed by the biotech stocks and these were going to breakdown and were the new darlings of Wall Street along with the big internet names 
• Earnings and Revenue forecasts were lower for the next qtr from many sectors -specially the tech sector
• Valuations in many internet stocks like FB,PYPL,etc were at ridiculous and lofty levels along with the valuations being given to companies like UBER etc in the private placement
• INTC and MU earnings were key and we had stated that the semi-sector was headed for a major slowdown. We said short INTC,AMBA,SWKS,HAL and MU 
• We had hedged our longs with covered calls to reduce cost basis 
• IBB ETF closed below 13 week SMA the week ending 8/14 for the first time in over 15 months

Well now everyone is wondering what next - what are you going to do with your portfolio - Well guess what - we are staying on the same viewpoint and thesis - Sell into rallies, take profits and short IBB (could be the best short). Markets will bounce - but these will be short lived - you can expect more volatility in the next few weeks. You will see clearly below in the charts below that major trendlines have been broken for all indices and the close below major moving averages is a big concern to us. We still like the INTC,MU,AMBA short and are shorting IBB/GILD. We were long NFLX - but with a covered call strategy. We will close half our position and wait for a better entry point. We will look to buy some index ETF on any bounce - target range for DOW is first support 16000 and then around 15000. We think PYPL could be another great short - we are short PYPL.

You can also use our BUY/SELL automated trading strategies on the stockview page to see where sell signals were generated and try to see which stocks in your portfolio are on a SELL signal - do this on weekly and daily charts for your stocks.

Here is the page: www.trucharts.com/StockView.aspx

Here is the image of trading strategy box on the page above: You have to click to expand the box:

Here are some charts we would like to show this week - look at the trendline and averages - these are weekly charts - please look at RSI and MACD - these are headed down:

 

 

       

Good luck trading, take profits here and now, and sell into any rallies and wait for better entry points. DO NOT LISTEN to the talking heads on CNBC.

We love documentaries and our recommendation for this week is an amazing documentary on smart meters and why you should not allow these in your neighborhood - we live a world of tyranny and corporate corruption and power: You can see this one on AMAZON or YOUTUBE.

Take Back Your Power

byJeffrey Armstrong

Trucharts Team/Founder/CEO