Position Updates & Gauges For Trading on 6/5/2015

Mish Schneider | June 4, 2015

Existing Position: Long DBA 22.71 ATR: .21

Name of Instrument: PwrShsDB Ag Fd

Current Price: 227

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

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Existing Position: Long PHO on limit order filled 25.40 ATR: .26

Name of Instrument: PwrShs Water Resources Portfolio

Current Price: 25.65

***Raised***Trailing Stop: 25.29 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

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New Position: FB: Long 80.04 ATR: 1.23

Name of Instrument: Facebook Inc.

Current Price: 82.05

Trailing Stop: 80.07 with 2 min time confirm

Reason For Trade: On May 13th this made a 2-day Brick wall bottoming pattern (a new 60+day low followed by a strong second day closing in the top 25% of the intraday range). The risk to just under the 200 DMA now makes this a high probability trade looking for a test of the highs and possible higher (good risk/reward). We might trade this one more actively though, meaning depending upon overall market conditions, could adjust profits and stops.

***Reached! First Profit Target: Sold ¼ 82.40

Second Profit Target: Sell ¼ more of position 83.64

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