Were You Prepared for the Recent Market Sell-Off?
by Mike Paulenoff
October 16, 2018 • 12:00 AM EDT
If your answer was no, you were not alone.
But members of MPTrader were prepared!
Mike Paulenoff, host of MPTrader.com's live Trading Room, had model portfolio positions in the Direxion Daily S&P 500 Bear 3X ETF (SPXS), the ProShares UltraShort 20+ Year Treasury (TBT) and the Direxion Daily Gold Miners Bull 3X ETF (NUGT) ahead of last week's seismic market moves!
The SPXS gained 17% at its high last week over the previous week's close, and +15% from where Mike added it in early September. The TBT gained 8% from when Mike added it September, and NUGT rose 22% in the week since Mike added to the position on October 10.
MPTrader features Mike Paulenoff's macro and chart analysis of key indices and sectors, along with trade set-ups.
He'll play both leveraged ETFs and key bellwether stocks to capitalize on an anticipated sector move.
Last week he added FireEye, Inc. (FEYE) at 15.80, bullish on cyber security, which is already up 10%.
Come join us at MPTrader.com, where you can not only view Mike's range of market analysis but interact live with him throughout the trading day.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
Eight weeks ago, Mike Paulenoff discussed the budding technical setup and upside breakout in CRWD (CrowdStrike Holdings) with our MPTraders members, writing:"CRWD has followed the bullish scenario we discussed in late August, and in fact, today (10/06/23) has thrust above 5 months of resistance to new recovery high territory at 176.32. Although my next optimal upside target zone is 190-200, the BIG picture setup points to 230-240 thereafter... Last is 174.86...
On Monday morning, November 13, 2023, a full 5 trading sessions before the approaching November Options Expiration (OPEX) (11/17/23), I posted my chart-based commentary for our members:SPY-- Considering that Friday is November Option Expiration, where are the "magnetized strike prices" as we start OPEX week? Based on my attached Hourly Chart, the magnetized strike price zone spans from 436 to 441. Should SPY take out the upside barrier of 441, then the follow-through outlier magnetized target could be as high as 450 before or on Friday.
On October 23, 2023, ten days before the November 1st FOMC meeting and policy statement, I posted the following commentary about the downward-spiraling TLT (20+ year T-bond ETF):My attached 4-hour Chart of TLT shows that the relentless and near-vertical downtrend that commenced at the beginning of August from around 100 hit a new long-term low at 81.92 this AM, positioning it in my intermediate-term optimal downside target zone from 80 to 82.
On the afternoon of September 25, Mike Paulenoff posted a warning signal to MPTraders members about the developing acute oversold condition in RTX (formerly Raytheon Technologies), writing:"RTX (formerly Raytheon Technologies) hit a new multi-month corrective low of 71.02, down 33% from the 4/10/23 post-pandemic High at 106.02. Although RTX has violated my optimal target window of 73-75, the stair-step corrective pattern off of the 4/19/23 high at 104.
On October 3, Mike Paulenoff posted the following "Heads Up!" about GLD (SPDR Gold Trust, ETF) for MPTrader members: "GLD has pressed to an important technical inflection window from 169.50 down to 166.30, from where I will be expecting corrective downside exhaustion off of the 5/04/23 high at 191.36, and new buying interest. From a nearer-term perspective, given the acute oversold but CONFIRMED Momentum reading of 17.16 an hour ago, my preferred scenario argues for another loop down that marginally violates today's low at 168.