MO - Breakout trade

I posted some longer term charts on Altria last night and thought I'd lay a basic long trade out for any newbies. I'm seeing last weeks trades as the formation of a Bull flag consoldation for a move to the next fibonacci line at 19.50.

A stop should be placed just below last weeks low of 18.01 giving a bit of room for pick-off plays by the big boys - say 17.91 or so.

Altria just INCREASED the dividend and the yield is now 7.5% on a very stable cash cow company.

$INDU

MO 2yr daily

MO - 5yr weekly

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MO

Impressive....

GLD

GMR-Update

Bottom fishing and caught a gap up.....Posted early last week at $7.36

XHB

BAC

Getting short Bank of America on break of trend.

AMZN fans on a weekly

Fans still working on Amazon.

GLD

Gold is banging up against the underside of a 50% Fibonacci Fan line and could be a possible short trade with a tight stop at 93.07 or a moderate stop above last weeks high of 93.80 or loosely above the fan line at 94.25.

It is probably likely that GLD could trade higher along this line into October and top out at 95.70 providing a better shorting opportunity as the top of the channel will create additional resistance.

My bias is on the short side as the dollar is rounding the bottom out and could rise putting pressure on crude and commodoties such as gold. However, be aware that this could take a few months to materize and pick up momemtum.

XLF

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S&P MONTHLY

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S&P WEEKLY

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S&P 500

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Bottom fish - GMR

Stop 6.95

MO

S&P 500 monthly

Pretty easy to see the resistance points at 1015. Short with a stop just above 1015 and a buy stop to get long at 1016.

Crude update

Long term monthly chart of crude shows how important the $75 level is as the 200 month Simple Moving Average is $74.70. A break above this level could send crude on a trek back to triple digits going into the winter months. This is definitely a market sentiment indicator to watch closely.

XLF

Two ways to play the XLF on a breakout or failure of the channel line.

Breakout: Use a Buy stop above today's high of $14 to catch a possible breakout of the channel. Today's low 13.67 or the 20 sma - 13.50 as possible stops.

Breakdown: Go ahead and buy the Puts with a tight stop above $14.10 and a loose above 14.35.

No doubt the XLF is gonna make a move and a pick up in voulme will tell the tale as to which way to let ride as the other trade is stopped out.