Were You Prepared for the Recent Market Sell-Off?
![Mike Paulenoff](/assets/cdn/static/mptrader/images/mike-paulenoff.gif?id=853baf5e048aaccf8689bd216813fa18)
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%.
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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
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More Top Calls From Mike
This past Monday, July 15, right after the opening bell, Mike Paulenoff cautioned our members about the technical setup in TSLA (Tesla), writing:"TSLA is in the grasp of a corrective period off of last Thurs (7/11) high at 271.00 that hit an initial low at 231.52 last Friday (7/12). The big rebound off of 231.52 to 262.72 during this AM's pre-market trading has the right look of an "intervening bounce" between two distinct corrective declines (the first being 271 to 231.52).
This week's selection for our Top Call -- VZ (Verizon Communications) -- is less a function of its recent success and more a reflection of Mike's technical setup work that projects gains in the days and weeks ahead. On June 17, one of our MPTrader members (FJB) alerted us to his fundamental work on VZ. After seeing his positive comments, Mike Paulenoff posted the following technical interpretation of the pattern setup:"... somewhere above 36.
On the morning of June 20, Mike Paulenoff posted a heads-up about AMD to MPTrader members, writing:"AMD has been upgraded this AM by Piper Sandler with a Target Price of 175. Piper reiterated its OverWeight rating and has made AMD its top big-cap pick for the remainder of 2024. Technically, AMD has its challenges and its work cut out for it to climb to Piper's 175 target. My attached 4-hour chart setup argues that for starters, AMD needs to climb above 158.
On the afternoon of May 7, 2024, ahead of earnings the next morning, this is what I discussed with MPTrader members about a forthcoming opportunistic technical set in UBER (Uber Technologies):UBER reports earnings tomorrow morning before the opening bell. My Big Picture setup suggests strongly that the bull phase that commenced in June 2022 at 19.90 still has unfinished business on the upside into the 90-100 target window.
This coming week is filled with consequential macro and micro "events," such as NVDA's 10 for 1 stock split, CPI, PPI, and TSLA's annual meeting, during which shareholders will vote to approve or reject Elon Musk's 2018, $56 billion pay package.Arguably, the most significant "event" for the technology sector, in particular, and for the major equity indices is Apple Inc.'s WWDC Conference, which begins tomorrow.