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
This past Tuesday afternoon (11/24), in response to an MPTrader subscriber question about PayPal (PYPL), Mike Paulenoff wrote:
"My interpretation of the BIG picture set up is that PYPL ended a near-term correction from its 9/02 high at 212.46 into the 11/03 low at 174.81, where it also started a new upleg that remains in progress, and points to a target zone of 215-220."
The stock, which was trading at 205.
Ten days ago (on Nov 11), with Blink Charging Co. (BLNK) trading at 9.62 just ahead of its earnings report, Mike Paulenoff wrote in our his Trading Room:
"Is this [report] the catalyst that sends BLNK surging to and through multi-YEAR resistance at 14.50-15.00? It certainly could be because the huge base formation exhibited on my attached Daily chart shows that for the past 3-1/2 months, it has been digesting the gains from the March low at 1.25 to the July high at 14.
This past Tuesday November 10, Mike Paulenoff put out a chart on Southwestern Energy Company (SWN).
Pfizer (PFE) had just released its vaccine news the day before, and SWN was rallying along with other energy and industrial names.
As Mike noted, "Yesterday's vaccine news suggests the shift to economic normalcy might come sooner than later, and with it more aggregate demand to propel revenues and profits in the industrial sectors (value more than growth for a change).
A week ago Friday (Oct 30), with the equity markets and precious metals under intense pressure ahead of the forthcoming election, Mike Paulenoff told members of MPTrader:
"If there is one equity sector I think is imperative to participate in starting on Tuesday, well into the next Administration, regardless of who is in charge, it's the Precious Metal Miners in general, and in the (Junior) Silver Miners, in particular (SILJ).
This past Tuesday afternoon, with Zoom Video Communications (ZM) at $539.50, Mike Paulenoff told MPTrader members:
"ZM followed a very technical price path into its October high at 588.54, which my work argues ended the up-leg from the August low at 230.75...
