Time To Add To Qualcomm (QCOM) & Apple (AAPL)

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ITZ suggests adding to Qualcomm & Apple position here, having entered Qualcomm on April 24 @ $61.40 with a 1/4 position. Let's add another 1/4 position  $58.50.

With Apple we entered again on April 24th @ $559 let's add another 1/4 position here under $539.
Past Post entering QCOM & AAPL

Position Update:
Silver Wheaton (SLW) 1/2 position 4/17 $30, 1/4 position 5/8 $26.75 & 1/4 position 5/9 $26.75

Freeport McMoran (FCX) 1/2 position 4/5 $38 & 5/14 $34.80 1/2 position

Apple (AAPL) 1/4 position 4/24 $559 /  1/4 position 5/17 $539  (cancel $500 Stop)

Qualcomm (QCOM) 1/4 position 4/24 $61.40 / 1/4 position $58.50 (cancel $57 Stop)

Proshares Ultra Crude Oil (UCO) 1/4 position 5/9 $36.70

Starbucks (SBUX) 1/2 position 5/10 $52.50 

Silver Approaching Key Levels

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click chart to expand image

Where Is The S&P500 Heading?

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Adding To Freeport McMoran (FCX)

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ITZ is adding to the Freeport McMoran (FCX) position @ $34.80, having initial purchase April 5 @ $38. Average cost basis now $36.40 with a near term price objective of $40.

Position Update:

Silver Wheaton (SLW) 1/2 position 4/17 $30, 1/4 position 5/8 $26.75 & 1/4 position 5/9 $26.75

Freeport McMoran (FCX)  1/2 position 4/5 $38 & 5/14 $34.80 1/2 position

Apple (AAPL) 1/4 position 4/24 $559 /  $500 Stop

Qualcomm (QCOM) 1/4 position 4/24 $61.40 / stop $57

Proshares Ultra Crude Oil (UCO) 1/4 position 5/9 $36.70

Starbucks (SBUX) 1/2 position 5/10 $52.50

Commodities (CRB)

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Starbucks (SBUX) Buy

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ITZ has took a 1/2 position on Starbucks (SBUX) today @ $54.50, look to add on any pullback towards lower end of ascending channel as indicated on chart  below. Past Chart

Silver Wheaton (SLW) & Proshares (UCO) Update

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Adding to Silver Wheaton Position  (SLW) 1/4 position at $26.75, to a full position now.

Also taking a 1/4 position in Proshares Ultra Crude Oil (UCO) at $36.70 chart

Silver Wheaton (SLW) BUY!

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Both Gold & Silver are getting hit hard, however silver more so than gold as per the Gold/Silver Ratio. ITZ favorite Silver Wheaton (SLW) has also come down from it's recent high around $40.

 ITZ suggested entering a 1/2 position back on April 17th @ $30 and a 1/4 position on 5/8 @ $26.75. As I type SLW is bouncing from the morning low of $25.57 now $26.35.

The chart below highlights entry and exit points and is just one in several charts ITZ incorporates. Fundamentals are also compelling SLW earnings $1.55 in 2011; estimates for 2012 are $2.00 & 2013 $2.44. So around $26 a share it is selling a 13xs this year and 10.6xs forward...very attractive valuations. ITZ sees Silver Wheaton selling at a 20 pe/ and based on 2013 eps of $2.44 est. should trade near $50 next year....a 90% gain from here

ITZ WTI Crude Oil Observations

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This is the 3rd consecutive year where crude oil has sold off in the month of May.

click on chart to expand image

Oil turns negative for 2012. Mark Fisher, MBF Clearing CEO, shares his thoughts on the reasons why.

Silver Wheaton (SLW) & ITZ Updates

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ITZ is suggesting cancelling the $27 (April 17) stop on Silver Wheaton and placing a BUY @ $27.  LINK

Current ITZ Position Update:

SLW 1/2 position entered 4/17 @ $30
FCX 1/2 position entered 4/5 $38 (cancel STOP @ $35)
AAPL 1/4 position entered 4/24 $559 Stop $500
QCOM 1/4 position entered 4/24 $61.40 (cancel STOP @ $57)

*NOTE On the Radar - looking to get back in Proshares Ultra Crude Oil - UCO. With WTI oil testing it's 200ma today ITZ is looking to reenter this position...follow ITZ on Twitter

ITZ Update: GDX & UCO

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Two more ITZ suggested buys hit their respective stops  UCO & GDX. Remaining stocks are Silver Wheaton SLW entered $30/ stop $27; Freeport McMoran FCX entered $38 / stop $35, Apple AAPL $559/ stop $500 & Qualcomm QCOM $61.40/ stop $57 LINK

Oil & and the markets are down on several factors, the BLS Non Farm Payroll jobs report, CME requirements, Chesapeake (CHK), Europe & French elections, and strength in the US Dollar.

Can Apple Go Lower?

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Apple has given most of it's recent gains back and ITZ sees it heading lower. link