Still Running FAST

SEPT 2, 2014    Many equities were breaking from good bases this summer and some of these equities mentioned in the last report are STILL running fast!   Look at charts of HGSH & DGLY for example. These types of runs leave most behind because you just cant jump into a stock that has run up 100- 500% without risking losing your shirt.   You can set up a watchlist and look to possible buy retracements later  (Patience is required here, but it is important to wait for a lower risk set up). In my last report, I also mentioned that I had various watch lists with similar set ups  to those already running strong, but before they broke out.   It is best to know when they have earnings reports coming out and watch how they respond AFTER the release. One such stock mentioned last week was RALY.  Earnings were due, will it RALLY?  It was at $9.80 & had a bullish pattern that looked like this …

 

 

Next Chart: Earnings were released on Thursday Aug 28  , and Friday it looked like this as a possible ISLAND BOTTOM…

 

 

 

Gaps on ISLAND BOTTOMS do not fill, so this one may not either.  The WEEKLY CHART may break out today.

 

 

 Last week I also pointed out ADEP as a bullish set up with earnings due.  It failed big time, so thats a good example of why I said it is best to let them release earnings first  (You can look that after earnings current chart up on your own to see the ‘fail’ ) . The bullish set up in my last report was this…

 

 

And then this chart from last weeks report-  HGSH, mentioned in the opening paragraph with DGLY …This is an example of how they RUN, and sometimes KEEP RUNNING when they explode from a long base. Even with the long pullback  (Again, patience was needed) . I mentioned how you couldnt chase this because it just ran from $2 to $6 , but it MAY RUN TO $12 from here.  Today it hit $11 pre-Mkt!!    

  As mentioned in last weeks report   (DGLY, HGSH, JRJC, etc etc )  IF you can catch these early , you can do very well  ( HMMM, are these signs of an impending Parabola in the MKTS?).

 

 

 

So going forward, lets look at some more charts that interest me. For the sake of time…I may just list them one after another here, writing little about them. Most are WEEKLY charts to show the bigger picture.

 

Last week I saw  VJET like this … You could have bought the blue trendline break & Add above the orange. Possibly add on a break above the 50sma too.

 

Currently – Its pushing against the 50sma  – if it breaks above it could run nicely (like the last run up).

 

also watching … VMEM

 

 

SCOK,  Notice: THIS TRIANGLE BOTTOM didnt lead to more downside…

 

 

 

 

 

 

 

 

From last week, I still like JVA if you like Coffee or JO

 

 

I also mentioned RENN last week, and this is it now  (Still looking bullish with that long base)

 

 

I’ve been talking about WHEAT, CORN, JJG, COFFEE, NATGAS etc since JULY.  I STILL love their set ups…so they’re on my watch list-

For Example:  here is what I posted on WEAT in JULY , the follow up chart, and current chart. STILL BULLISH  I.M.O.

 

 

 

The only concern is that DBA looks very similar to the last time it looked ready to break upward…and it broke down.

Time will tell, other things are bullish in this sector for now.

 

 

OIL looks set up Bullishly  ( At least Short term)

 

 

 LASTLY…Whats up with GOLD & MIners??  They look both Bullish & Bearish to me, and “Cycles” used for “Timing” $GOLD  indicates more downside .

 

Here they are using Technical Analysis- I had these written up Monday ($GOLD IS NOW DOWN $15)

 

$GOLD – Pushing against resistance overhead, may struggle here…

 

 

Possible support wkly??

 

 

GOLD has room to rise (With 50sma over head resistance at the downtrend line) and room to drop inside this channel.  =  Neutral

 

 

The puzzling part is that to me, GOLD looked weak last week, yet MIners looked stronger and SOME MINERS looked downright bullish  (RIC- GORO-GFI, etc etc on Daily & weekly charts) .  The following WEEKLY GDXJ chart looked bullish  IF IT BROKE OUT –  Daily chart said to wait for a break out also .

 

 

You see the GDXJ Daily broke BELOW the 50sma on somewhat heavy volume, and rises up to “Test” it on weak volume = Bearish  (So far)

 

These Miners looked great on weekly & Daily  (Extended however)  …

 

Sorry I didnt get this report out before the bell,  I know its hard to read while trying to watch the live markets. 

I started writing it over 3 hrs ago, 6:30 a.m. Eastern Time, but drawing up the charts takes quite a bit of time and I only had 6 of them drawn up last night.

 

Thanks for stopping by and I hope some of these ideas added to your own trading style can be useful in helping you to make some great trades!!

 

Best to you all,

 

~Alex