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24 Nov

Tuesday November 24, 2015

by

Good morning.

It’ll be a low key week for us with the market closed for Thanksgiving Thursday and only open until 1 p.m. Eastern Friday.

Overall I’m still very bullish on the S&P 500 and believe we’ll see a new all time high in December or early in 2016.

I’ve recorded 16 wins and 2 losses since inception of this newsletter for +$29,255 profit in about 3 months.

Currently I’m holding partial size on both positions in the portfolio FCX and GLUU. I’m looking to add more FCX around $8 soon and then put a stop loss in around that level. I’m unsure if I’ll add to GLUU anytime soon, right now I like the partial position and the direction and think holding for 10%+ on this trade will work fine.

BIS is looking good for a starter position around $30 and profit around $36 as biotechs, which have been on fire, lose momentum into December.

bis

CHK is an oversold play on energy I really like above $5 with range to $6.40 for profit. I’ll probably look to start scaling in soon as the dollar weakens and dollar based commodities bounce.

chk

GRUB is pushing into the gap from October’s big drop so I won’t chase it here but continue to watch for entry above $24.

grub

NBG is oversold after falling for nearly a month. I’ll be watching for it to settle around $.20 and position for a bounce. This could be a momentum monster if fear for the bank’s future and recapitalization news fades.

nbg

As noted above, probably a low key week ahead but I would expect an alert or two into any S&P 500 weakness so we can attempt to capitalize on the ensuing 52 week high rally.

Jason Bond

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