Long Trading Ideas

The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out). which I published for members and 12631 subscribers this past Sunday. 

LONG TRADING IDEAS

I like the following long ideas only on further strength this week. I recommend that you keep protective stop-losses on all trades, not much looser than 7-8% from where you initially buy. Also, please be sure to check earnings dates for any and all of your holdings.  

1. CAVM
2. ENV
3. EXH
4. FLR
5. FLS 
6. FWLT
7. GTAT
8. ILMN 

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It is hard to believe that it is has been twenty years since Forrest Gump (1994) was released, a bonafide classic in the heat of summer.

Tom Hanks stars in this unforgettable, sweeping drama/comedy/romance story about a challenged Alabama boy who grows up to partake in many historical events.

I would argue that the ten-minute Vietnam War sequence in the movie is as solid as several feature-length films devoted solely to Vietnam.

Also of note in the cast for great performances are: Robin Wright, Gary Sinise, and Mykelti Williamson.

In addition to corn, of course, is the other yellow thing–Gold and gold miners (as well as silver and silver miners).

The are all on watch early next week to see if there is upside follow-through.

The gold metal ETF, for example, is basing quite well on the 30-minute chart today without much giveback, even as the junior gold miners do a fast shake.

Regarding GDXJ, $41 and especially $40 are the general areas I am looking to see hold for a reentry into JNUG next week.

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Nice action in my corn long to close out the week, it appears.

However, a big issue into next week is going to be clearing the 20-day moving average for the corn fund, seen below as the orange line on the dally timeframe.

Still, corn broke a steep downtrend to the upside this week, which is a good first step as other soft commodities, like sugar, wake up.

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I like what I am seeing from the crude oil ETF since its breakout last week, avoiding a gap-fill lower and now pushing higher yet.

The 30-minute chart, below, for the crude ETF shows a base breakout potential for a secondary thrust higher.

As a result, I added back to my UCO levered long inside 12631, raising my stop-loss to my original entry in the $37 range.

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