Hubert Senters here.
I got a question from a viewer a message from Anthony. MMM is on the move higher with a pending deal with China on the horizon. Is it a good time to jump on board? I’ll just call you Tony, Anthony. So I don’t usually do stuff like that but I will take the analysis of it so like the old ages buy the rumor or sell the fact, right.
It may or may not happen so I wouldn’t bank on that because Lord of Mercy how many times I’ve had companies that were potentially going to be bought out and then you stop trying to make profits and then you backslide as a company and you like I thought you guys were bonus. We decided not to. So you’ve got to be careful in that type of stuff.
And that’s just speaking from the school of hard knocks trying hard knocks just trying to sell companies to other acquiring ventures. So with that being said today it looks pretty good. It’s above the cloud. It’s above the turning. It’s above the standard if you look the weekly. It’s got a little overhead resistance here. Right here at about $222-ish so if it gets through that it could go as high as $260.
One thing that you can do is look at you can see it’s got more positive weeks than down weeks so 17 of the past 17 weeks all of them but three have been positive so a little known secret on Wall Street is if you can figure out which way the week’s going you can usually profit from a situation I’ll use that in bonds all the time, right. I’ll say I’ll look at 30 year bonds I’ll go okay what am I doing this week?
So Monday was down or not the past three weeks in bonds have been down so I know I’m probably pushing lower and what I’ll do a lot of times if I don’t have enough cushion in a trade say in Friday I’ll liquidate so if you look at that a lot of times Monday or the first week will give you an advantage of trying to predict what the rest of the week will do. It’ll go Monday, Tuesday, Wednesday, Thursday and then it’ll go in the opposite direction on Friday. Does that make sense? So overall your trade doesn’t look bad it’s got a little overhead resistance there but I wouldn’t bet the bank on it or bet the house on it based upon a pending deal because a lot of times those pending deals just don’t happen.
Mark Helweg is going to be doing a special webinar on ‘’How to Profit from Wall Street’s Secret Research without analyzing charts for hours’’ at a time. It’s going to take place Wednesday, May the 1st at 8PM EST. You can read the bullet point here. It’s so simple. My eighth grade daughter could do it. Now, that’s Mark’s daughter. My daughters are always are off in college so it’s not that his kid. It takes only 10 minutes a week designed to follow smart money in Wall Street and perfect strategy if you still got a JLP In other words if you’re a working trader. Click CLAIM MY SPOT NOW to register for the webinar.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
