July 27, 2021 Update
July 27, 2021
The destruction of China’s technology stocks continues today again, I linked an article below that gives a brief idea of what is happening over there, but the charts say it all. Today, I’m posting the KWEB WEEKLY chart, since yesterday we already examined the daily and monthly charts. I took today’s decline as my opportunity to bring accounts up to full-sized position in KWEB LEAPS, I welcome the opportunity to put this position on cruise control now, and look at other ideas. The beating has been relentless, I can only say I am glad that just now I am reaching full risk on this one, because went straight down faster than any other etf I have seen in my 25-30 year trading history! Still, I won’t be surprised if we end up making money on this trade, due to proper risk control more than anything else. This helps explain why Chinese stocks are in a tailspin:
https://www.zerohedge.com/markets/tencent-shares-tumble-wechat-removed-chinese-app-stores
And the WEEKLY chart of KWEB:
I also began to nibble again on a junior copper/gold explorer, FreeGold Ventures (FVL.TO), which was adding to a losing position like many miner positions lately. I will continue to look to add to this one and others, as the miners might be getting ready to mount a rally if the general stock market is going to weaken further, like it is today. The Nasdaq was down 2% at one point today, I wager if it can get a red bar (down month) on the monthly charts, it might be the catalyst we need to get miners headed higher again. Here is the DAILY chart for FVL.TO…
