Just Charts

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Charts – Charts – Charts!  It’s Friday and I just wanted to post a few charts that look interesting . I am not talking about buying and holding for a month,  some  traders dont even like to hold over the weekend with Greece and other geopolitical issues out there.   Today I am talking about what look like trade set ups / reversals and so on.   Buy one or two , or put these on your watch list to possibly buy a pull back .  We had reversals yesterday in OIL & Metals.  I liked them because they  can be trade-able.   I bought as mentioned in the chat / comments area, but is it long term or short?   Just a quick trade or more?    I’ll discuss that this weekend.    On to the charts …

$WTIC-  small bounce or lows?

WTIC 5-28

What about NATGAS?…

 

Many were saying how brutal yesterday was, but I actually have been expecting more selling

NATGAS 5-28

 

The XLE ( And a few Energy Stocks) look pretty good here

XLE

 

 

In the weekend report I will discuss more about  Energy and Metals/Miners , but there were a number of interesting looking reversals , as mentioned in our chat / comments section . Stops are being run and buyers are stepping into the fear,  I love that for short term trading signals.  I did NOT send out an alert, because it is early to say whether a 1 day reversal should be bought, but for traders it can be good for a quick scalp anyways.

 

I liked the look of the reversal in CDE , BVN, and a few others mentioned in yesterdays premium report.

CDE

 

With the SILVER C.O.T. report,  one may want to look at the WKLY CDE  and wait for a break out.  The bigger picture.

CDE wkly

 

For TRADERS:  YOU CANNOT BUY ALL OF THESE, THESE ARE JUST SET UPS THAT OUR TRADERS MAY BE INTERESTED IN. Choose 1 or 2? Put some that interest you on a watch list? These are trade ideas.

I like MDR on a weekly and daily

MDR WKLY

 

FMSA

FMSA

 

ATRA

ATRA

 

TUBE – has more upside I.M.O.

TUBE

 

MSCC

MSCC 2

 

NQ

NQ

 

FRO –  THIS LOOKS GOOD

FRO

 

 

I was asked a while ago about long term ‘buy & hold’.  Its tough with the markets in the wedge pattern, but I did mention  NKE, UA, and ULTA. 

ULTA – still a healthy chart, looks like it could break out

ULTA

 

 

CLNE-  we have waited patiently for this pull back.  Is it ready now?  Its a low risk entry , since your stop can be just below that 50sma  (I would use a loose stop) .

NOTE: In technical analysis  the High Volume candle from Feb  Can be “tested” , all the way down to $6.25!  This wedge would still be in tact, the blue top line might be raised to todays high.

CLNE

 

Enjoy your Friday trading and I will have a weekend report that discusses the various sectors and the crazy week of activity that we had on this holiday shortened trading week. As always,  thank you for being here!

 

~ALEX

 

P.S. I am going to release some of this report in the public area later this morning.  Maybe after the 1st hour of trading.  I wanted my  readers here to be able to see it first.  I really like the set up in  FRO, for example,  so I wanted everyone here  (Especially the traders)  to see these set ups first.

62 replies
      • Maria
        Maria says:

        and DQ…fyi…pretty sooon.. to the moon alice…party at ChartFreaks house.. ha!!
        o mannn .. can u imagine? what would the neighbors think…..

        • chartfreak1
          chartfreak1 says:

          They go away to the lakes on wkends, I use a huge projector to shine my charts on their house and have “outdoor movie theater experience” chart tutorials.

          To answer the question: They’d think I’m crazy?

          Man, U can tell its FRIDAY

          • Maria
            Maria says:

            no way .. i do the very same thing in my gazebo it’s 14×20 so everyone has plenty of room & no bugs ‘bug’ us…. sweetness.

  2. Onlooker from Troy
    Onlooker from Troy says:

    Well GDP came and went without a big reaction, though I suppose it’s notable that it was better than expected (slightly) and gold didn’t sell off, but the dollar didn’t do much at all either.

    • JDWM
      JDWM says:

      Last day of month port mgrs will be hasitant to do much of anything

      Next week looks more interesting, espec if Euro can keep picking up which it looks to be doing

      • chartfreak1
        chartfreak1 says:

        Its a tough call. Sometimes you get that window dressing end of month , beginning of new month. As you said , that can happen next week too.

        • Onlooker from Troy
          Onlooker from Troy says:

          Yeah, I’ve often wondered whether it’s actually empirically significant, or just another bit of market lore that’s reinforced by our biases (i.e. we see it happen sometimes and that’s all we remember, not the others). I really don’t know.

  3. Onlooker from Troy
    Onlooker from Troy says:

    Oil is reacting off of that 23.6% fib at 57.81 again this morn. Regardless of whether that fib level is usually significant, that price level has shown itself to be meaningful a number of times, all the way back to Dec when it stopped a little bounce during the waterfall.

  4. Onlooker from Troy
    Onlooker from Troy says:

    HIMX, ouch. It was looking so good too, though it’s not completely “broken” yet it certainly doesn’t help. But it hasn’t really changed anything on a weekly chart where it still looks good as long as it defends that 5.75(ish) pivot.

  5. Maria
    Maria says:

    Bill
    Nice chart, but if you see DUST correcting, why not jump in on NUGT?
    8:49 a.m., Friday May 29 | Other comments by Bill

    Bill – answering your ? here because I’m not certain you will get it since it’s yesterday’s thread.

    Short answer: As I said – the picture wasnt crystal clear – I was getting mixed signals & I ..well .. I need to FEEL it up near ..ohhhhh I’d say 90% b4 I lay my hard earned cashola on the line in those 3x ers. ;o) I work FT so I cant be certain I will have time to check them….

    HOWEVVVVER… giggle .. I was ‘feelin’ SLV and USLV and took a swing position there… GL2day

    https://www.tradingview.com/x/EmZdvwl6/

    • chartfreak1
      chartfreak1 says:

      Very interesting. Actually looks like a shake out to new lows ( 8 month chart) and the recovery is setting up pretty nicely. Good low risk too, with a stop below recent lows or $1.10

    • Ken
      Ken says:

      Good Morning,
      I can Not Confirm or Verify this info (I cant seem to find the article) but a third party CPA firm has stated that SD has a 17% risk of bankruptcy. HERO has an 18% risk. WRES also an 18 % risk.
      Not touching them with so many other energy plays available. Just my 2 cents worth.

      • Maria
        Maria says:

        interesting ken… anything on HK? that baby has been scraping the bottom of the barrel ….. i keep watching it for a sign of life… but pee youuu eeee it’s lookn like a stinker…

        • Ken
          Ken says:

          Nothing on HK but:
          MILL is 23% risk
          SWFT is 19% risk
          REN is 17 % risk
          You will be an announcement away from a big fat 0. imo. I have been there -(

      • CS
        CS says:

        Ken, I would be interested in any info. you might come across on this. Appreciate the heads up.

  7. Carlnetscouts
    Carlnetscouts says:

    Natural Gas looks like it’s pretty much at Alex’s trendline here. Might be a good UGAZ entry.

    • Bill
      Bill says:

      Really took a beating, almost starting from the lows, could be very low risk here. I don’t remember CFs chart on this? Was it Yesterday?

    • chartfreak1
      chartfreak1 says:

      R U reading my mind? Its a tough buy , because the drop the past 2 days has been a lot for UAGZ, but a reversal liek UWTI had would be a nice signal.

      And the UWTI , UCO, USO trades have nice volume and price spread . Thats a good sign

    • chartfreak1
      chartfreak1 says:

      Nice. I dont see any news.

      EGY has been no hero, but its looking like solid BASE and nice turn upward today. It trades between $2 and $2,50…I can make $$ on that until it decides to break out ( or down)

    • Maria
      Maria says:

      o mannnn fugly… but cut the man sum slack wild bill .. ;o)
      he cant be perfect on EVVVERY call… tho it IS fun 2 tease him, isnt it?? and this does give us a nice setup 4the slam .. lol lol (only kidding Dr. ChartFreak…wellllll .. only HALF kidding) giggle lol giggle

      • chartfreak1
        chartfreak1 says:

        C’Mon Traders, Its BUY THE DIP, now get in there, roll up your sleeves and BUY BUY BUY some FRO.
        It crashed right to the 50sma…perfect!

        J/K – Actually, its now on a watch list ( Earnings today I believe).

        Let me make it up to you ….BUY REXX Refresh for chart
        .

    • chartfreak1
      chartfreak1 says:

      I think I may let it go. (It too is not oil, it is alternative energy)

      I dont think its “Ugly” , but I bought it with the idea that it had a strong run , natural, light volume pullback to the 50sma , and I was looking for a reversal and second run up.

      That may still happen, but like SZYM- It is taking longer than expected and below the 50sma . That puts the weekly under the 10 WMA and I usually buy around that area.

      When I buy a stock with a specific plan , I want to see it act correctly. This isnt :Bad:, but not according to plan, so I may add to REXX with the funds or something like that.

  12. Steven
    Steven says:

    Alex,
    With oil’s nice move here, would you be a little cautious here or concerned with PLUG

  13. chartfreak1
    chartfreak1 says:

    Risky trade – due to the 3x etf moves, I have to use a loose mental stop 7 monitor this

    I BOUGHT UGAZ , using the daily chart posted in the report, and a small wedge pattern possibly forming in the 10 day with divergences, and the timing for a NATGAS cycle low.

    And the selling the last couple of days made me afraid of buying, that is a must : )

    It may be a quick trade if it goes against me. Others should wait for a reversal . We are on day 23 of the daily cycle. They tend to run about in this area,

    EDIT: The volume is heavy in UGAZ and UNG, this could be capitulation type selling, but also could go lower.

  14. LeChiffre
    LeChiffre says:

    Bought more UGAZ. It’s outside its BB, with heavy volume. (oversold big)

    (REN is not acting well today but nothing too worrisome)

    • Maria
      Maria says:

      great buy… i think its in wave 2 now – correcting – may possibly see the infamous 99% retrace here….knock everyone out b4 wave 3 blastoff…GL2U

      • LeChiffre
        LeChiffre says:

        Yes. 99% retrace will be painful (and a good exercise of Zen).
        Fundamentally NatGas is not going anywhere. Prices of NatGas are much more expensive everywhere in the world. (Europe $8-10, Asia $12). Once the USA starts exporting (end of the year, right?), the price will jump up big big time!

    • chartfreak1
      chartfreak1 says:

      Thanks LeChiffre,

      In my OIL chart in the report, the top line is resistance and did likely hit there today. I lightened on part of the position, but will add again soon. I do think we may have just started the 2nd leg up ( a Daily Cycle low being put in).

      I love the volume in UCO, USO, UWTI .

      TAKE A LOOK AT OIL WEEKLY on the first run. WOW

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