J.C. Penney (JCP) Nine-Year Trend Broken, NUGT Stop Updated, DJIA Chart Updated

 

It's rare that we see a 9-year trend broken.  Today retailer J.C. Penney did just that.

 

Here's the related news: J.C. Penney reports happy holidays, upbeat outlook

 

 

More importantly, here's the chart followed by a close-up view:

 

 

 

 

We went long today, and will sell on any close below $6.  JCP closed today at $8.36

 

 

The remainder of our NUGT position is up 226% since our mid-January entry and we're raising our stop once again, now to $35.

 

 

On February 11 we posted this chart of the DJIA:

 

 

 

 

The market has gone higher almost daily, up 1193 points (+7.7%) in the 9 trading days since the February 11 low (circled in green) and may have reached an area of resistance (marked by black lines):

 

 

 

 

 

 

 

 

 

 



We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
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This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained in herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.

20-Year Supportive Trend In Coffee Remains Intact

Three months ago we bought coffee via JO.

 

JO is the iPath Bloomberg Coffee Subindex Total Return ETN, an exchange-traded note issued in the USA. The Note will provide investors with a cash payment at the scheduled maturity or early redemption based on the performance of the underlying index, the Bloomberg Coffee Total Return Sub-Index.

 

Below is an updated chart showing a supportive 20-year trend.  It's virtually indistinguishable from the chart we posted three months ago, other than a slightly new low was made since we posted the last coffee chart and at today's close coffee is $2 lower than it was back then.  $2 is an immaterial amount in this context.

 

We remain bullish coffee and long JO.

 

 

 

 

 

 

 

 

 

 

 



We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained in herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.

NUGT Up 200% in Three Weeks, Selling A Quarter

On January 20th, we timed the current market low virtually to the minute. 

One position we purchased was NUGT.  As of this writing, it's up exactly 200% so we're selling half of our remaining amount (which equals 1/4 of our original holding since we'd already sold half). 

We're raising the stop on the remaining NUGT to $30 on an intraday basis.


Here's a look at the DJIA:

We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained in herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.

NUGT Up 100% in Two Weeks, Selling Half

On January 20th, we timed the current market low virtually to the minute. 

One position we purchased was NUGT.  As of this writing, it's up more than 107% so we're selling half. 

The other two purchases made on Jan 20th - OKS and UCO - are both up 29% with UCO having gone as high as +52%. 

We're holding those with stop levels unchanged and raising the stop on the remaining half of NUGT to $23 on an intraday basis.

We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained in herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.

Gold Chart and NUGT Stop Updated

In November we turned long-term bullish on gold for the first time since we turned bearish at virtually the exact top back in 2011.

We were virtually a lone bullish voice on gold at the time, other than the poor souls who had been mistakenly bullish all of the long way down.  They will repeat their mistakes of the past while we'll seek to again sell near the top and turn short. 

For now we remain bullish, and probably many others are about to join us now that this giant declining wedge pattern seems to be breaking upward as we'd predicted it would.

We were lucky to time the current market bounce nearly to the minute, and remain long those positions. 

NUGT is up 77%, UCO is up 34% (having risen as high as +52%) and OKS is up 22% in just two weeks.  Not bad! 

If you have oversized positions or are in need of limiting risk after the market drop this year, it's prudent to ease up on these positions. 

We'll remain long, raising our NUGT stop to $22 on an intra-day basis (up from the original $16).  We've no stop on OKS and will leave the stop on UCO at $5.50

We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained in herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.

Closing DEE +303% , Gold Update

In November we closed 2/3 of our double position in DEE for a gain of over 160% as diarized (and over 200% on positions we'd previously held that we disclosed at the time). 

At today's high DEE was up 400% from our suggested entry, up 303% at the close, and we're going to ease out of the rest of our position. 

In that same posting we turned bullish on gold on a longer-term basis for the first time in years.  Gold hit its low two days later. 

Later that month we identified a "declining wedge" pattern in gold which we'll update today.

The two gold charts below show the daily and weekly time frames. 

The daily shows a year-long downward trend channel being challenged. 

 

 

The weekly shows that there's also the potential for an upside break-out of the giant "declining wedge" pattern, which would be exceptionally bullish and is what we expect to occur.

 

We receive no remuneration or incentive directly or indirectly in any way, shape, or form for buying or selling the positions we do, or for mentioning any positions or publicly traded companies in this blog. If we hold existing positions we divulge the fact. This blog is merely a diary of some of our thoughts and trades and is in no way whatsoever to be considered investment advice of any kind. Always without fail consult a competent, experienced, and honest broker or investment advisor before making any investment or speculative decisions.

Please presume that we, she, he, I, it, them, they, us and you are purely fictional characters and that everything written in this blog is satire intended for comedic amusement only, and not to be taken seriously in any way. Just like "real" analyst proclamations. Thank you.

To be notified when this blog is updated :
Please e-mail christianguinness@hotmail.com with "Subscribe to blog" in the subject line or click here to do so automatically if your computer is configured accordingly. We have never shared our mailing list with anyone, nor will we. Please note that we only send update notifications when a trade idea is diarized or updated materially, not if a posting only contains general commentary.

This publication has been prepared solely for informational purposes and is made available on an "as is" basis. RidingTheGravyTrain (RtGT) does not make any warranty or representation regarding the information. The material is proprietary and without prior written permission from RtGT it may not be reproduced, copied, modified, performed, published, distributed or broadcast, in whole or in part, in any form, other than for your own personal, non-commercial use.

Nothing in this publication is intended to constitute legal, tax, securities, or investment advice, or an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Nothing in these pages constitutes an offer or a solicitation to buy or sell a security nor is it to be construed as investment advice.

RtGT is not an investment advisor. The general opinions and information contained in herein should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional concerning your own situation and any specific investment questions you may have. RtGT cannot guarantee the future performance of any investment.