Tuesday Jan 15th – No Big Changes
Monday s market action did not change the expectations mentioned in the weekend Big Picture Review, but the trading has been very good and most of the recent buy opportunities continue to play out. Lets do a Tuesday review…
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QQQ – We expected this pause and…
QQQ – I still expect this to eventually move higher above the 50sma, and then a peak to the first daily cycle.
WTIC – Oil paused as expected too. It is at resistance, but I think that it will break higher in time too. Watch the 10sma for possible support.
XLE – Crawling under the 50sma is usually resolved bullishly if it hugs the line. Let’s look at a few Oil / Energy charts too..
OAS – During the day, OAS reversed off of the 10sma.
WPX – WPX is hugging the 50sma, and so are many other Oil / Energy stocks. See also LPI, DNR, OAS, AREX, AXAS, etc The sector looks to be setting up for the next leg higher.
1. Add to current positions anticipating the break out,
2. Wait for a break out and add on a break out ( Stop under the 50sma) or
3. You can also start a trade with a stop under the 50sma.
DQ – DQ is back testing support.
UUP – GDX & GDXJ dropped again Monday. The USD ( UUP) may have a dcl here. If this bounce continues , GDX can drop a bit more to the dcl.
GOLD – This looks like a bull flag at resistance, and it looks like it should pop higher…
GOLD – GOLD itself looks like a Bull Flag on the 10sma. It could drop under that 10sma, because Miners did that on Monday, but it looks pretty bullish to me. For now, let’s look at GDX & GDXJ and see what happens to Gold overnight & on Tuesday .
In the weekend report I mentioned this …
GDX DAILY – This is actually now 3 weeks of choppiness as it consolidates the recent gains. We now have a MACD cross down and this can drop further from overbought. So far, each dip to the 10sma has been bought. When that is broken, I’d say we’ll get our DCL.
GDX – GDX closed below the 10sma Monday. SO in my head I am wondering : Is this day 40, or was that quick reversal 4 days ago a mini dcl and this is day 4? We will know soon. This can drop to the 200sma or 50sma and be an excellent buy.
GDXJ – I’m drawing it as a ‘shake out’ dip, but that is just an idea of what we may see, we just have to watch it from here. Let’s look at some individual Miners, you’ll see quite a mixture of activity.
AUMN – I captured this within the first 1/2 hr of trading. It actually broke the 200 sma later in the day and recovered by the close, closing down just 1 cent. So individual Miners are still looking bullish, though they are pulling back.
AEM – After a bullish run $33ish to $41, we’ve had 1 Month of sideways chop. This is consolidating along the 200sma, and that helps it to go from Overbought to oversold. It remains bullish and I think that it can be bought since it is holding the 200sma area rather well, but that doesn’t mean that it cant tag that 50sma on a quick drop too.
CDE – CDE actually closed at $4.93, it is not selling off much. I drew a possible target if we get the sell off, but so far it remains above the 10sma (not shown) .
GPL – I Captured GPL 1/2 hr into trading, GPL looks as though it wants to drop to support. You could buy a reversal there, however…
GPL – However, this is how it closed. Buyers stepped in early and it reversed into the end of the day. This is why I feel that it is safe to hold a basket of Miners as they sell down.
KL – Then you have this guy, right? At the highs again, so Miners are not being sold off recklessly, they seem to be under accumulation.
TRX – POSTED AS A “BUY THE REVERSAL CANDLE” – with a stop below the low.
TRX – Still moving higher and may break the 50 sma.
VGZ In late December – VGZ bullishly broke the 50sma and looked like it would back test as a buy
VGZ – After that back test, it has now moved above the 200sma as of Monday. So again, these laggers are now playing catch up and acting bullishly on their own.
So what we see at this point is what we have expected for the most part. Trading has been good and we are seeing some nice moves higher in some areas and pauses along the way in Equities and Energy. I will discuss that a bit more below. My past reports have many Miners, Mj stocks, and other ideas for trades, so check your watch lists and enjoy the upside while it continues to play out. 🙂 So far, it has been good trading for the last few weeks.
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Enjoy your Tuesday trading!
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~ALEX
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MJ ETF – The MJ ETF continues to run steadily higher, and is now over both the 50 & 200 sma. That is bullish and many MJ stocks seem to be forming ‘Cups’, so I drew the MJ ETF that way too. Look how these ran in August & September.
ABC was recommended down here and along the way, the whole sector was firing up…
ACB – Today it was trying to break the 200sma after gaining the 50sma last week. I would say that THIS would even be a buy, this CAN run all the way to former highs ( a cup as shown above).
ACB – By the way, ACB did close above the 200 sma. I added to my position Monday in NBEV, ACB, and YGYI.
ISOLF – I also pointed out the high volume in ISOLF, and mentioned that I bought it in the final hr of the day. It was already up 8 % when I bought it but…
ISOLF – It was already up 8 %, but I’ve seen these move 10-15% for 3 or 4 days in a row. It closed up 14.4%, and you can see the massive volume flowing in and the upside potential if it gets going. It is a starter position that I want to add to if it continues to be bullish. This is still just in a base.
NBEV – I posted this in the comments area, it was about to break above the recent highs and that is the inverse H&S that I have been pointing out. I own it and I added earlier in the day near the open.
NBEV – It closed up 13% but was up even higher earlier in the day. I’m expecting this to run to prior highs, so I am just using mental stops.
CGC reversal off of the 10sma when the sector started to heat up. WATCH HOW FAST THINGS CHANGE IN THE NEXT COUPLE OF CHARTS.
CGC – shoots up 13% to the 50 & 200sma, and is breaking out with STRONG VOLUME. A BUY Again.
CGC – More great follow through above the 50sma day after day after day. This is why I added to ACB above the 50sma.
WTER – A BUY at the 200 sma, it was Up another 20%, now up over 50 % in a couple of days
YGYI – landed on and rode the 200sma as support. With this POP, I posted that I bought YGYI, a FAST Stock, a bit risky. I used an intraday chart to buy it. The last time it Popped at $5, it tripled. 🙂
YGYI – Monday it gapped open over the 50sma and then closed that gap, landing on the 50sma, so I added to my original position. I still think that this will run higher, so if it reverses , it could be considered a buy ( but a fast moving stock). At least it trades on the NASDAQ.
CPST – On Jan 3rd, CPST popped above the 50sma
CPST JAN 7th – Last week as it flagged, I pointed it out as a bull flag, a buy at the 50sma
CPST – It just kept going sideways but finally popped Monday morning, so I posted this as a buy.
CPST – Now up 14%, I posted this for a reader that owned it, showing that the upside had further to go. This can run straight to the 50sma , but a basic measured move is 95 cents.
CPST AT THE CLOSE – It closed up 20% just under 90 cents. The trading has been good as Bullish set ups are now playing out well. With that big volume, it should have follow through Tuesday too.
VHI Jan 3 – We had been watching VHI Pushing on the 50sma with a tight base in December. A break out should run well. The set up was very good.
VHI – Last week it broke out and THIS WAS ANOTHER BUY , with a stop under the 50sma. Look at the upside potential.
VHI – After forming a high tight flag, Monday saw it break out with very high volume. This is now breaking above the entire base and could move higher swiftly (barring any bad news, etc).
TRTC – I bought TRTC as it broke from a tight base and added- with a average Buy price in the 70+ cent area. I expected a run to the 50sma, a pause, and maybe a run to the 200 sma. Well..
TRTC – After a nice run, we got a big gap open over the 50 sma Monday ( Yay!) , but then TRTC sold off rather quickly (boo !), so I bailed out & posted that I was out in the comments section. I still had good gains, but not as much as I had when it gapped over that 50sma. I want to watch this from the sidelines now, and I dont like a big reversal with high volume.
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DONT FORGET THAT WE DISCUSSED THE SOLARS
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ENPH – Slowly but surely still moving higher above the 50sma. This can still be bought here, because it is moving slowly.
SOL – Breaking out above the 50sma. I dont like the volume really, but I wanted to show that the sector is bullish.
VSLR – Riding the 10sma higher and a bit of an extension Monday. This is a buy in my opinion, it runs well when it gets bullish. Just a trade to the 50sma? Or hold and see how it goes? That is up to you, both seem reasonable.
