Let’s Take Profits in an Unloved Sector

Talk about waffling!

Even though oil basically meandered over the past few weeks, it still managed to notch its ninth weekly gain in a row. The underlying stories about oil prices aren’t any different than they’ve been for weeks.

The biggest story is the glut in the amount of global supply, while a secondary concern is that the net number of rigs taken offline has now exceeded those put into service for the last 23 weeks in a row…

…and some weeks, that appears to be welcome news.

My “line in the sand of support” sits at $58 a barrel. So long as it holds there I will continue to anticipate prices eventually going higher.

All of which brings me to this post-Memorial Day case study rooted in the oil patch.

You see, when I get a buy signal in one of my analysis tools or the other, that’s all well and good, but when I get a signal on a stock across multiple signals, I tend to favor these, as they have the “stacking” effect that I love.

Stacking is when you get confirmation from several technical, fundamental, or seasonal signals.

And for today’s highlighted case study, well, we got all three…

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My 3-Step Process to Wealth

I get a lot of letters and emails from Power Profit Trades readers, and I try to answer as many of them as possible.

Recently I fielded one from a reader who, after raking in a 50% gain in Apple Corp., asked about suggestions on how to cut short any potential losses.

Today I’m going to take a few minutes to talk about a subject near and dear to my heart: how we can make even more money while cutting back on our risks.

Before I start, let’s get to the question that came in from “Linda” just a few short weeks ago.

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