I am going to buy a very small position in OXY since it traded almost to it’s downside tgt. We’ll use a 3 dollar stop (77)
3M has put in a double bottom on the weekly charts.This instrument needs to hold 76.60 ish on the breaks, with major stops again under 76.
BHP…a long with a stop against 74.80 looks reasonable.
36374 level in the SOX index should be monitored for tone. Above the tech’s will rally and take the broader market with. I would look for this event to be price negative Gold in the near term.
As far as the straight indices go, they’re in the middle of nowhere for me. Investors should only be contemplating trades where they can codify their risk reward. This means you have to risk a little to make something in this market. Only put on positions that will allow you to sleep. You also have to be willing to lose the money! “Get stopped Out”
Trade accordingly.
