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T3’s Trades of the Week: Jeff Cooper on USD, the Red Dog on Biotech


Welcome to the latest edition of T3’s Trades of the Week newsletter!

Let’s jump right in with this week’s trades and analysis:

1) Jeff Cooper on the US Dollar and Gold

Unless the dollar can recapture its 50 day in short order, it is vulnerable to a break to 98 and an Eiffel Tower move — a complete retracement of the-post election rally.

An extension lower in the dollar should perpetuate a breakout in gold and the miners over the last swing high.

Click here to see how Jeff’s swing trades are going (they’re going well…)

2) Scott Redler on IBB (IBB)

IBB needs to prove it can hold above $293.57. Like a lot of traders, I got stopped out last Thursday. It’s now below the 8/21 day. If this breaks and closes below Friday’s $293.57 low, it could fade back into the base towards the 50 day near $286.

Click here to get a FREE look at Scott Redler’s Trading Screens.

3) Off the Charts on XLNX

It was a pretty quiet day for XLNX Friday. For the second session in a row, an early green move was sold off but similar to Thursday, buyers stepped in to defend 60 and once the morning action slowed down it settled into a long sideways range into the end of the day, eventually finishing above 60. Friday’s close above 60 marked the 3rd day in a row that XLNX finished above the important resistance level.

Although it couldn’t hold onto Thursday’s gains, establishing support above previous resistance should bode well this week. A move above 60.50 that holds would be a solid first step, and clearing 61 should ultimately get momentum rolling.

Click here to learn more about Off the Charts.

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