Two Profitable SLW Trades
by Mike Paulenoff
December 4, 2015 • 6:02 PM EST
Mike had two successful SLW trades this week, first closing out of his November 12 entry for a profit of 5.2% (entered at 12.42, exited on Dec 2 at 13.07).
Mike re-entered the SLW on Dec 2 at 13.23, and exited Dec. 4 at 14.01 for a profit of 5.9%.
See point-and-figure chart from Dec 2 below.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
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More Top Calls From Mike
Ten days ago, on February 17, Mike Paulenoff posted a detailed analysis of the bond market for MPTrader members.
In it, Mike highlighted the "increasing fear" in the bond market, with longer-term rates projected to continue to rise, and in the "Fear Index" itself, the VIX, suggesting increased risk in the equity markets.
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This past Tuesday afternoon (Feb 9), one of our long term subscribers, Sid_F, asked Mike in his MPTrader discussion room what he makes of QS (QuantumScape Corp), which develops and commercializes lithium-metal batteries for Electric Vehicles.
Mike responded: "Sid, QS looks to me like it ended a major correction from its high at $132.73 (12/22/20) into its $40.62 low (2/01/21), and for the last week or so, has been carving out a potential bottom ahead of lift-off into a powerful rally phase.
Back on November 23, Mike Paulenoff alerted MPTrader members to a long opportunity in Occidental Petroleum Corp. (OXY).
OXY, he explained, stood to benefit from the Biden Administration's "much less friendly" view of fossil fuels than its predecessor, which could result in reduced output amid increasing demand, thus lifting the price of crude oil.
Plus, technically he saw the stock in a developing multi-month base formation, and emerging from a significant double-bottom low.
This past Monday, after Vaxart, Inc. (VXRT) popped above key technical resistance, Mike Paulenoff posted a timely update alerting MPTrader members to a potentially significant upside breakout:
"VXRT has again climbed into heavy, but very consequential resistance from 8.30 to 9.45," Mike wrote. "If VXRT can chew through the resistance zone, it will be poised for upside continuation that projects 14-15 in a 'normal' market.
