Nov 12th – Still No Change Here

SPX –  ‘No Change’ from yesterdays report. Just keep riding it until a trailing stop takes you out. This can keep riding the upper line higher for a while too.

XBI – Just yesterday I mentioned that I liked the XBI at this 50sma, with the MACD about to cross up, etc .  In the comments section I was asked about  LABD  ( bear Biotech)  and I noticed that that chart looks good too, so let me review where this sector stands.

XBI dropped yesterday and the MACD started to actually curl down already.  IF this trend line breaks,  it may be bullish for LABD – see this chart & the next one…

LABD- A break out here could happen if XBI above breaks down. This does look bullish.

USD – On day 18, the USD can drop down into a dcl  ( the last run had a peak of day 20, and a low at day 24.  So this can drop as shown here and allow Gold to pop, or…

USD –  This can POP first to say day 20 and then drop.

WTIC WKLY from yesterday – Oil reached a resistance area, and could Pause or pullback…

WTIC-  No change from yesterdays thoughts on Oil.

Individual Energy stocks can act separately from Oil, unless it gets into a steep sharp drop, so…

PDS –  I own PDS and added today Wednesday with this sideways consolidation over to the 10sma.  If it started dropping quickly, I would sell it, but this looks like a bull flag type set up.

WLL – I mentioned that I sold 1/2 of my WLL from the  run up off of the 50sma as it tagged the 200sma. So far it is dropping to the 10sma, I would like to see that hold. This may start to crawl along the 200sma and that would be bullish, but a faster break down might be a drop to the 50sma.

GOLD – Gold made a higher high for the week, but as mentioned in the last report, this should NOT break above the 1308 and the 50sma will probably stall it.  With Gold looking and acting bullishly,  GDX & GDXJ are still not very bullish.  Let’s look at Miners…

GDX – GDX popped this morning and reversed back lower toward the end of the day. I am still watching this trend line, but at this point, it still does not look like we are missing anything.  HOWEVER…

I have mentioned that some Miners look very bullish compared to GDX or GDXJ.  Take a look at a 3 month chart of EGI.It has moved very bullishly this week.

I also pointed out  NSRPF here to show how this consolidation resembles the last one  (Which was bullish),   so we are getting a mix of bullish Miners and maybe some lagging.

NAK – NAK was pointed out as a buy a few times recently, with a bullish set up.

NAK – And it is breaking higher.  This is considered a Miner as well as a ‘metals’ company. SO we are seeing some bullish action in this area.

IAG – While EGO made a new low today,  IAG popped bullishly on earnings.  If we drop into an ICL, this would likely back test the trend line, but it is starting to look like Miners are ‘surprising to the upside’ in many cases.   The sign of a bull market, not a bear.

So while Gold has not broken the OCT lows, Miners have.  That makes Gold look Bullish, but Miners?   Not as bullish, but individual Miners are showing some bullish activity.   That kind of a mixed bag makes it tricky, but another day goes by and we still have no change here too. I am trading in other sectors while watching the parameters that I have laid out in these reports, looking  for further confirmation of where we are seeing timing – wise.  Enjoy your Thursday trading.

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~ALEX

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MYMMF – Tuesday I mentioned Canadian Medical Marijuana companies, and that this set up could lead to a quick 40% gain ( 40 cents to 60 cents). I wanted to point out that…

MYMMF –  60 cents is the first target, but this COULD break out & run a lot higher too. Let me show you something…

These are Canadian medical Marijuana stocks lately, as they break from bases.

OGRMF –  This was the buy on OGRMF, trying to break from a nice long base.

OGRMF – Nice POP.

OGRMF – And this is it now, consolidated the recent gains and is currently still moving higher. I expect a run to former highs above $3.25  ( that alone is 30%) and possibly even higher the way these have been moving.

This is just to show how devious these markets often are.

PLNT – I posted this bullish chart as a reversal buy above the 50sma. I didnt take the trade, but the chart is bullish,  running higher,  tagging the 50sma.

PLNT – Tuesday was a ‘shake out’ below the 50sma, I probably would have sold my position if I bought it.  and then on Wednesday, earnings come out and boom, it pops up 20%.  It is so hard when they run the stops and then it gaps open like this.  As I have mentioned before, even for the buy & hold investor riding a trend higher,  it is not as easy as it looks.

GRPN – I mentioned this ‘buy’ as a reversal during their earnings call, and said that I bought it.  As you can see, this is a bull run and a bullish recovery for this stock longer term. I personally was planning on buying at $5 and selling maybe selling when it gets near $6, that was just the trade that I wanted to make…

GRPN – Basically rising every day, it does seem to be heading for $6 and could just keep going higher.    The chart is still bullish longer term, and you could ride this longer if you want, but I may lock in gains soon. I just wanted to mention that for those with a longer term plan, this looks just fine.

FCEL –  I bought FCEL, because these tight weekly patterns can be very bullish.

FCEL – It continues sideways, I still own it, but the last consolidation lasted for about 2 months.  This may go sideways until it reaches the 50sma , but it COULD drop & fill the gap and the 50sma now.  That does not make it bearish, it is a bullish set up at this point, unless it really starts selling off.