Friday June 19th

We  really did not see a lot of change in the Market sectors with Thursdays trading, though some of the ‘stock picks’ exploded nicely. It is Friday, the last trading day of the week, so I’ll just quickly review the markets and discuss a few extra things at the end again.

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FROM TUESDAY : SPX  – With some upside gains, we are getting confirmation that the long trade is on track.

 

 

SPX  – So you can see that 2 days later and the markets have stalled here, so we have no big change. We are at the 20sma, this may be where they do a final bounce before dipping into a dcl.

 

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KEEP AN EYE ON MOMO  (Thanks RIK) – I was asked to have a look at MOMO, and this is a pretty Bullish set up as an oversold,  double bottom set up with MACD Divergence.  And the weekly…

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MOMO WEEKLY   I flipped to the weekly and can see a very oversold stock with a high volume reversal ( if it ends here or higher Friday) double bottom. I can’t guarantee that it is just ready to go higher right away,  but it is an easy buy with a tight stop under this weeks lows.  It looks good.

 

 

WTIC YESTERDAYS CHART TO SHOW THE COUNT  – Oil can have 50 plus day daily cycles, so there is still time for this to pop, tag the 200 sma, and then quickly drop to a dcl.  That isn’t a guarantee obviously, it is just likely based on the current set up.

 

WTIC  Day 40 – Oil still looks ready to go and oil stocks are set up bullishly too.

 

YESTERDAYS REPORT : XOP – I put a box around the first daily cycle & added one to the current run…

1.  I see a 1/4 cycle low on both daily cycles near day 10

2. Then a run to day 16 high

3. That was followed by a drop to a 1/2 cycle low on day 20 & 21

4. That is where we are now, so what happened next in the first daily cycle? It ran higher.

XOP moved a little higher Thursday and as mentioned in yesterdays report, some Energy Stocks look ready to go higher too.

 

 

GOLD YESTERDAYS REPORT – Another day of sideways chop, but this can lead to a bullish pop.  I still see a possible inverse H&S.

GOLD – You can see that we have no real change with GOLD from Thursdays trading here too. We DO want to see GOLD push higher sooner than later, due to cycle counts growing older.  It is still only day 9.

 

 

GDX FROM YESTERDAYs REPORT – I have been saying all along that Daily cycle counts often last 33+ days , and we are just getting there. I use them as a guide for ‘timing’, so at least we know that we are at that timing for a dcl.

 

And we had no real change with the GDX or GDXJ, but a quick drop could still take place if Gold doesn’t break out soon.

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AG lost the 50sma, so I start to look at what is considered ‘normal’ Fib pull backs. AG is at the  stronger 38.2%, then you have 50% @  $7.53, and 61.8% @  $6.74.  Volume is light, so the selling isn’t heavy or reckless, but it gets annoying.

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CDE may be taking a trip to the 50% dip. That still isn’t unhealthy, but no one wants to ride these down day after day.

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I was asked to look at IAG – We see the same thing going on here.  As the Main Metals drift sideways, the miners are drifting lower.

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We have hardly seen any change in the various market sectors all week, but individual stocks and Miners are doing their own thing.  Is it Big money trying to get people to sell, so that they can accumulate in bigger size without driving price higher?  It often works that way, but it is hard to know for sure.

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This is Gold as I write:   If gold could break out above this downtrend line (let’s say $1735), the Miners would likely take off higher.  Let’s see what Friday brings our way!

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~ALEX

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For the fast trades, we got some strong action again.  It seems to come in waves.  I’ll just do another quick review with a pick or 2.

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SXTC  JUNE 10 – THE VOLUME STANDS OUT IN A BIG WAY. I said I bought this & would hold.

 

SXTC  This Week – A nice high volume reversal.  I was asked that day if I sold that dip and I said, “No, I am in this for the base’. This is a great base set up with that volume character.

 

SXTC  JUNE 15 – This was in the report again this week. This honestly is a beautiful base, but the chop was boring people and causing people to lose confidence that it would break out. I said that I am still waiting  ( just like the NAKD trade, I had to stay in the base for a while).

THURSDAY SXTC  (1 hr into trading = LAST CALL!) –  4 million volume and breaking higher, this looks very good.

 

SXTC  popped up 40%+ at the end of the day as it finally broke out. This is not overbought and CAN run further, but I always just try to lock some gains in. We’ll see what happens Friday.   I also mention LLIT, so we’ll look at that after 1 more SXTC Chart…

 

SXTC WEEKLY – All I can say is WOW!  IF this were to just keep running over time, it would make a great buy & hold. I am holding a good amount for a while .

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LLIT  – This is the same pattern as SXTC so I posted this at 11:30 a.m.  SXTC looked just like this as it broke out  ( Scroll up and see), so this may be ready to go next.   They are both Covid-related stocks.

 

LLIT  – This is a Buy at the close if you ask me.  I bought it yesterday in the morning and added near the close when I took some profits from BIOC & SXTC.

 

 

BIOC REVIEW -This was in yesterdays report.  This was a buy near the 50sma, and after the run to $0.75, it kept dropping, but was also bouncing back.  I was showing that Buyers are stepping in and the drop to that 10sma as a gap fill may be all we get.

 

BIOC REVIEW FROM YESTERDAYS REPORT – I used the weekly to show that I am adding, since we are still bullishly above the 50 on a weekly chart and volume as BIG.

 

BIOC THURSDAY  – BOOM, it took off higher all day Thursday.  Let’s zoom in…

 

BIOC THURSDAY  –  Up 50% midday.  I sold some up here as it approached resistance, but I also hold a good amount because I want to see if this can break out above that resistance at $1.00  It Could even gap over it in the morning, but what if it pulls back?  I will watch it for a bit and add back at a reasonable area ( 10 sma?).  I think this will break resistance at $1 sooner or later.

 

 

 

 

HTGM  – This long term chart shows great potential , even for a buy & hold. It sold off for years but has been coming back.  If I zoom in…

 

HTGM  – It is VERY CHOPPY, but has worked its way above that 200 sma.  It seems to be a buy at the 20 sma, it is there now, but I’m passing on this one simply because I own several others.  If it drops back to the 200sma, I might buy it though (low risk/ high reward).

 

WHY DO I SELL ON THE POP?  SOMETIMES THEY DO KEEP RUNNING, BUT…

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BBGI  – Remember this POP? It dropped the next day.This happened to NAKD, GNC, VISL, and others that I bought.

– If they pop 20%, I may just let them ride.

– If they pop 25-40% by the close,  I might automatically sell 20%.

– If they pop 100% by the close? Sometimes I sell 50% or even all of it depending on what I am seeing at the time.

*Note:  If they pop 100% and you sell 1/2, you are just letting all profits ride and your principle is back in your pocket.

 

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**WARNING – WARNING**

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I HATE TO DO THIS, PROCEED AT YOUR OWN RISK: I mentioned a stock that I own that is wild, and said that I never discuss this one.  By request, someone picked up on that  🙂  and asked me to include it with a strong warning, so here I go.  This next stock has been VERY difficult to hold.

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This is a stock that I researched a bit and wanted to tell you about, so why haven’t I?  It is a wild one, and can pull back BIG if you buy at the wrong time.    HOWEVER,…

 

AHPI  manufactures and distributes respiratory products and when COVID struck , it rocketed from $2 to $40+. I checked it out, It has done NO reverse splits, that was just a pure run up.    Just an amazing rocket ride that has now consolidated for months into a somewhat tighter consolidation. By tight I mean $2 swings!   A break out could be special on this one.  IF we get a second wave of Covid, this company could work its way back up toward $20, $30, even $40-  but it could be a rough ride.

 

AHPI – On this weekly chart we see price  sitting at the 30 week  (or 34 week) Ma and it is quite oversold.

Know this:  Look at these swings.   When I entered AHPI, it dropped almost $1 right away and then came back and rallied strongly. It ran to $10.40 , then dropped $2, then rallied back up near $10.  THIS IS NOT AN EASY RIDE,  so…

 

For me:  I  just want to ‘set it & forget it’ (with a stop) . I want to use this chart and ignore it for a while and see where it is next week, or where it is next month?  A break above the overhead moving averages MIGHT have me adding to my position with a stop there, but this is a tough one to trade.  It IS NOT for newer scalpers or traders.