Hubert Senters here.
Let’s take a look at PENN. When you look at it it’s one of the biggest percentage net gainers on the S&P 500 and on the surface of you like oh, that’s going to be a great long. Not necessarily.
Now, it’s a decent long because it’s got a little double bottom here and it might head to the cloud.
If you look at this on like a 60-minute timeframe. 60-minute fired off a long today which means it’s going to have at least 3-5 days of bounce the way I look at this stuff.
But I don’t know how you look at it as this is a risky long unless I’m just willing to hold it for three to five days so I’m not going to get mere to that in that situation.
So I’m willing to give up some of the potential gains on this thing so if I was looking at like to do a long I would say from this high to that low.
It could potentially retrace about 50 percent which should be around $100 to $110. I’m willing to give up most of the bottom catching like right here.
So the quickest that I would get in it will be at the purple line here at $72.26 that’s going to be the most agressive stylistic trade I would do there.
The second approach is I would wait for the daily to get above the cloud which is around $84. So if you can see I’m costing myself from $71 to $84.
A potential gain what I’m getting in that situation I think is a little less riskier trade a little safer which no such thing as safe in any financial markets.
For the potential of not getting stopped out and maybe going to a $110 and then let it run a little bit higher.
I’m going to be doing a special webinar on The Mother Of All Bubbles Saturday, August 7th at 10AM.
You’ve probably noticed in the last several months it’s getting harder to trade just because the markets getting tired up here. It’s running out of steam.
And then the next step is just going to slightly roll over then it’s going to speed up and then it’s really going to speed up.
If you know how to trade that type of stuff you can potentially double dip. You can be long in your index and your retirement account.
And you can also short and hedge so when your portfolio is going down in your retirement account you can actually add to that. And you would get a better return by adding it to where there’s broad in the streets.
And then also you can short either in the index or future or you can do puts or calls. However you want to do it.
You can bet on the down side. You can double dip. You do have to know how to time that stuff and what to look for.
It’s not hard. You do have to know what to look for so that’s why I’m doing this webinar for.
You know how to fill a webinar form. First name, email, mobile phone number. If at anytime you need to opt-out this stuff the voice call hit zero, it will opt you out.
And if you to opt out of a text message because I’m going to remind you a couple of times to show up on time then it’s just on the text just hit stop and they’ll reply.
Good luck. Hope it helps. See you on the next video.
Hubert.
