Waiting for a break-out

I like ETFs, they seem to always recover. Here are some ETFs I am expecting to continue bullish trend. I am looking at a monthly and yearly trends, I seldom use daily trends, because I use position trading.

NDX

SPX

RUT

SPY

DIA, QQQ, IWM, XLY,  are the other ETFs that I like to trade.

A lot of people trade the USO ETF, they usually use covered call strategy on this one. And it might be a good strategy if you can buy 20000 stock of USO, then you can probably get up to $5400 each month by selling 200 calls. However, to buy 20000 of USO you will need $275200. It will take you 4 years to recoup the amount you spent on buying the stock.

Another ETF I like is the VXX, I usually sell calls against it (not a covered call strategy).

I am waiting for SLV (silver) and GDX (gold) to change trend. So far it’s not a good sign for them, although it might change in an instant.

Next support line for SLV is at $13.04, GDX support is at $12.4, so we’ll see how low it can go.

Gold, Silver, and Oil will increase in price, but I want to catch them on a low point, so I can get the most gain.

I do trade stocks, but I am wary of them, because unlike ETFs, stocks can go down to “0” and if they are down, they take a while to recover if they recover at all. For example GoPro (GPRO) in 2014 was at $98 and now they are at $6.41. Which is surprising, because I see GoPro cameras, and they are popular.

Ford (F) is also on a down trend. They are selling a ton of cars, and even more trucks, which will be even more expensive in the future. I am going to avoid Ford stock, and will keep my 11 year old car a while longer.

 

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