A little housekeeping and updates…
We are still expecting the Wyckoff Wave (WW) to work a little lower in next few days/weeks. We like to purchase individual stocks when the Wyckoff Wave is giving us an all clear buy signal. Be prepared with a list of stocks that are showing outperformance to the upside.
We are long VanEck Gold Mingers (GDX) from $22.45 and it is currently trading $22.85. We now want to raise the stop to $22.20 which was the low a week ago.
We are long Lumber Liquidators (LL) from $21.17, and want to raise the stop to $23.50. This is a position that we would like to add to.
We are long RigNet (RNET) from $17.60 with stop still at $15.60. We would like to see this stock dig in right here and start outperforming to the upside.
Another stock we are still closely monitoring is Hexcel (HXL). This stock looks interesting at these levels and has much higher upside figure counts. Having a good day today and this might be the start.
Las Vegas Sands (LVS) is also at an interesting juncture. Stock has much higher upside objectives and long term uptrend.
Todd – just wanted to let you know I thank you for your Pro Trader commentary – George Riess