MCP seems to keep popping up. It must love Jason Bond Picks! In it again at 6.72.
Limit order initiated as planned, out of LEDS at 1.50 for a 7% gain. If you're still reading these posts and haven't joined Jason Bond Picks yet, you need to stop wasting time and get over there! Click here to try it out!
Into LEDS with 7,000 shares at 1.40 – putting my limit order at 1.50. I’ll be happy with 10 cents here.
Out of UVXY at 6.05 for a solid 4.3% profit. JB clearly knows what he’s doing with these trades.
Into UVXY at 5.80.
Jason Bond gave an interesting explanation of why he's in the stock:
"Here's why I'm in UVXY into Wednesday, we'll see if I'm right tomorrow.
UVXY - 10,000 at $5.79 swing, currently $5.82. First thing I notice is the VIX diverged from the SPX today and TLT started to turn too. See charts below.
Of the 496 stocks in my $.01 - $10 filter with $1 million in volume only 41 were up 5% or more Tuesday and almost half were red, despite the market being up nicely.
So UVXY is a leveraged ETF tracking the VIX. The VIX is the fear index. Tuesday the VIX started to reverse after a few days of pulling back.
Additionally, money stopped flowing out of bonds Tuesday evident by TLT below. This means big money is starting to be cautious about this stock rally too.
So I figure the odds of the market flat or lower are better than the odds it goes higher from here. Please don't make a habit of this trade, and it is just that... a trade. Nothing to buy and hold.
As noted above, I'll have a new watch list Wednesday morning once I see how Asia finishes up, Europe is trading and U.S. stock futures."
Good for you if you understood what all that meant. It’s all Spanish to me! Part of the reason for my subscription to Jason Bond Picks is my trust in Jason. I cannot analyze stocks, I have not the time or the skill, so I’ll trust his judgment here.
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Portfolio at start: