May's Monthly Report

Here is the report from May's Trades showing the trades I made through out the month with the profit or loss I incurred from each trade.  I am up $488.40 over the course of this month.

If you have been following the trade alerts sent out by subscribing to Chris Vermeulen's Alert Service, then you may have experienced similar results.  Past performance is not indicative of future performance.

 

Summary:

Number of Completed Trades:  12
Number of Trades Still Open:  0
Number of Profitable Trades:  9
Number of Losing Trades:  3
Profit/Loss:  +$488.40

S&P and Silver Not Recovering -- Positions Stopped Out

My S&P and Silver positions were both stopped out this morning. 

The downward slide that started yesterday after the FOMC is continuing.  In the announcement, there was mention that we can expect a slow unwinding of the QE in the future, and that was enough to cause considerable panic selling. 

The S&P:

While there is still potential for another push up in stocks once the panic subsides we are price is sitting at a support level.  I got stopped out on the S&P by a pip and a half. It's frustrating, but it happens.  It is time to "Wait and See Where it Goes", not time to "Take a Gamble and Guess".  Price is at a support level right now, and that support level could either hold, or it could break.  

The plan is to take advantage when some evidence comes in to suggest which way price will go; and that will only be provided with time.  

In the bigger picture, there is certainly evidence to suggest that the S&P is topping.  The uptrend is losing steam, and it will eventually roll over.  But I am not in the business of picking tops.  In my experience there is no money in that.  Until it is confirmed that it has topped, I will not be guessing where that top may be.  

Silver:

A new low was broken.  Was the low pierced and it will recover?  Or will it start a whole new wave of selling?  The low offered considerable support, and the trade to go long was a valid one.  I will be waiting to see where it will go and wait for a good set-up.

This post is not a recommendation to buy, sell, or hold on to a position.  This is for informational puposes only, and to log and track my own trades.  For more analysis on the S&P, silver, and other commodities, please subscribe to Chris Vermeulen's Alert Service.

S&P and Silver

I have gone long on the S&P at 1627.6, and long on silver at 21.3.  I have placed stop losses at 1600, and 20.

This is not a recommendation to buy or sell.

To check out the analysis on this trade, please see CV Analysis

Oil Appears to Be Stalling

I have closed my long oil position.  It increased nicely this morning, but it was on low volume, and it has since backed off.  The Fed today could mean some crazy price action for many markets today.

I closed it for a small profit.

This is not a recommendation to sell oil, or to close an open position.  It is for informational purposes, and is personal reference. 

Has Silver Bottomed?

I have placed an order to buy silver at 21 with a stop loss set at 20.  My take profit point is open. 

When silver dipped to $20.16 on June 17, 2013, most of the long positions were shaken out and the price bounced right back up.  The $20 price point should now offer strong support. The price action may bounce between 20 and 21 as silver looks for it's footing.  I will be watching the price action closely.  This is not a recommendation to buy or sell, but if you'd like the detailed analysis on this trade to evaluate the risks on your own, please visit CV Analysis.

My long oil position is still open.

Sitting Tight with a Long Oil Position

We had a nice rally this morning on oil, and it is now pulling back a bit.  I continue to wait for oil to climb to the 100.00 level, and my long position is set to close at 99.8 to ensure I catch the price and close out at a profit. 

For the analysis on this trade please subscribe to:  CV Analysis

Is Oil Worth Holding On To?

I will be holding on to my oil position through the overnight unless my stop loss or limit order is hit. 

For those needing catch-up I purchased oil at 97.75, have a stop loss of 97, and limit order of 99.8. 

Signing off for the day...

Is it Time to Go Long on Oil?

The set up for oil was good enough for me.  As mentioned this morning, I placed an order to buy if the price dipped to 97.75 and this order automatically got filled.  My stop loss is set for 97, and limit is set at 99.8 just in case it doesn't peirce 100.00.


To view the analysis please see:  CV Analysis

Possible Opportunity to Buy Oil

If oil slips back to 97.75 I will be looking to buy. 

I have set a limit order to trigger at 99.80, just shy of the psychological 100 mark to ensure I lock in profits.  My stop loss is set to an even 97.00.

Cheers.

Are Gold and Silver Carving Out a Bottom?

It has been a very long couple of years for the precious metal bugs. The price of gold, silver and their related mining stocks have bucked the broad market up trend and instead have been sinking to the bottom in terms of performance.

Earlier this week I posted a detailed report on the broad stock market and how it looks as though it‘s uptrend will be coming to an end sooner than later. The good news is that precious metals have the exact flip side of that outlook. They appear to be bottoming as they churn at support zones.

While metals and miners remain in a down trend it is important to recognize and prepare for a reversal in the coming weeks or months. Let’s take a look at the charts for a visual of where price is currently trading along with my analysis overlaid.

Read more...