New Position: TAN: Long 41.68 ATR: 1.10
Name of Instrument: Guggenheim Solar Energy
Current Price: 40.05
Sell Stop: 39.67 or just under 2 ATRs with a 2 minute time confirm
Reason For Trade: We bought this on an opening range reversal against the 200 DMA after a month and half long correction from the peak high. Our stop is under the 200 DMA for room. Longer term this is a growth industry-of course, if the market fails, this will too so our stop is a good risk/reward point should the market hold and turn back up.
First Profit Target for ½ off: 44.94
Existing Position: Long DBA 22.71 ATR: .21
Name of Instrument: PwrShsDB Ag Fd
Current Price: 22.49
Sell Stop: 21.49 Long term trade
Reason For Trade: After a long downward trend in commodities, many are basing out. DBA is a way to trade the basket of soft commodities. It is in a Recovery Phase. Risk is to the 2008 low so lots of room. Traded as high as 25.21 earlier this year. If commodities are bottoming, the upward potential is hard to predict.
First Profit Target for ½: 23.97
Existing Position: Long PHO on limit order filled 25.40 ATR: .26
Name of Instrument: PwrShs Water Resources Portfolio
Current Price: 25.57
Raised***Trailing Stop: 25.40 with time confirm
Reason For Trade: Broke out of a wedge going back from December 2014. Our stop is under all moving averages and the bottom of the wedge which means we have a great risk for the possibility that PHO’s basing action can take it up over 26.50 or more. A weekly close over 25.62 will take to over the 65 week moving average for the first time since December 2014 as well.
REACHED!! First Profit Target: 26.17 for ½
Second Profit Target: 26.64 for another ½ off