Climbing Up While The Market Turns

Mid-Sept 2019 Trend Trading Note Update

This will be a welcome update in terms of a potential market turn happening at the same time as it is making new highs. This is a market that is moving slowly higher.

The Long Bond, the 30 year UST, has fallen back to the medium time frame averages.

Likewise with Gold. The urge to panic fading.

Not much of a small recent bounce within the past week for Euro. EURUSD chart.

BTCUSD a/k/a Bitcoin. I read that acquaintance Jared Dillian has declared he likes it.

Brent crude, Dec 2019 basis.

A look at the good “doctor”, copper.

Now let’s turn to stocks within the Trend Trading ideas universe of Rooster360.
The best clue is sometimes seeing what is not working, to help us focus on where liquidity, attention and sentiment is increasingly focused. We begin with stopped out charts. These off clues of where the market is turning and what is not working.

The LONGS which have been stopped out include the following, which include two Top 10 leaders, ENPH and AU. Good-bye hot solar and briefly super-hot gold for now.

AU AngloGold Ashanti Limited daily Stock ChartENPH Enphase Energy, Inc. daily Stock Chart

The other longs which have been stopped out include several gold focused plays. This makes sense in terms of profit-taking and sentiment reversal. Panic is subsiding.

And WHAT is Working? Here is the Koyfin List Link for the Top 20 LONG LIST as of this week, followed by a nice updated Top 20 LONGS Summary with risk/share notes.

TOP SELLS which have been stopped out, with profits include the following.

What follows is one of the best lists of the “worst” charts. These are SELL ideas which have been stopped out. There is profit taking, sentiment change, leadership shifts, and sometimes just plain bottoming.

A slow-moving new long trend might be coming. Consider adding these for your shopping lists for late Q4 2019 at the earliest but more like Q2/Q3 2020. These are blasted businesses and charts that at best are rebuilding. Don’t rush into them.