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

Bullish tone and wild markets - making money like crazy

Bullish tone and wild markets - making money like crazy

There are now some bullish undertones in the market with the VIX which had risen to an unsustainable level was a good sign that the huge bounce was coming. It was not only obvious from the VIX but also from many technical indicators that had become extremely oversold.. Many stocks had been driven own to the 200d MAs and the machines were starting to kick in - just check stocks like AMD, NVDA and SHOP. These are amazing times to make money in both directions long and short and that is why timing matters no matter what anyone says.. You could tell from the indicators that the markets were very stretched before the huge pullback and it was a big nasty correction of around 35% and if you were keeping an eye on the stocks that had moved down, you could have made a ton of money on the short side. And this rally we saw today was very expected based on the recent price action over the last 2 days of the previous week. The markets and many stocks were bouncing of the recent lows and today these stocks moved up very nicely and this was an excellent opportunity to make a lot of MONEY.. That is why we say technicals are important to understand and use as a way to make trades. We are sticking with over night and intra-day trades and that is the most optimum way to make money. There is nothing like buy and hold and go tell that to the guy who has been holding on to XOM and CVX and WYNN and see what he says...about buy and hold strategy..

Options are another way to really enhance your returns and yet people do not want to even spend 5 minutes a day to learn basics about options and how they can boost your returns.. I feel sad for these people... Educated engineers and scientists who will delve into complex equations and designs will not spend even 30 minutes a day or even a week to figure out simple technical trading skills and learn basics about options - what a joke.... Anyway - we are recommending to go long here and the markets are down quite a bit and we think the DOW (DJIA) has to move to around 23500 and all the components of the DOW should also move up - we like every stock here except oil related stocks.. Tech stocks are a good bet for trading and we like BA - Boeing (we are long) and WDC... we closed our ROKU position but we still like it on a pullback - check out EXAS and PANW for some good trades. We like DE, CAT, ISRG...

Follow us on twitter @trucharts for our daily updates and stock picks - also check the screener on our site along with the stock charts page for real time charts, quotes and fundamental data.

We are working on a technical alerts system from our site and this should be ready soon..

Good luck trading..

Bob B.

Founder/CEO

Trucharts.com