BOOM

/27 Comments/in /by

Just a quick update –

 

I apologize for not being able to write sooner, XFINITY  was working on the wires and Boom, I lost internet for hours.  I also seem to be having a problem with the comments section of Chartfreak?  It may be  DISQUS is having issues, because the rest of the site works.  EMAIL alerts will not go out with DISQUS  down, so I hope to send a manual one .  Today is a technology nightmare for me.

 

That is not the BOOM I am speaking of though.  Looking at The dollar we see a sudden sell off.  In our  Oil trades of  UWTI, USO, UCO – we see follow through.   XLE –  we finally have a Bullish reaction.  I would not be afraid to buy Energy stocks reacting today.

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REXX & BAS off of the 50sma are safe buys NOW  –  Use stops

XCO & UPL are buys to me   ( the NatGas stocks that I mentioned this a.m.)  Use stops

I also love what  VALE, MTDR, CLF, FCX  are doing. I would buy these right here too, recovering the 50sma.   USe Stops

Take a look at  HK, CDTI,KEG ,  EXXI, GDP, SFY, etc for reversals .  I buy the ones that have good volume or trying to re-take the 50sma, etc

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UGAZ sold off hard and reversed.   BULLISH ENGULFING – I just added to my position.  These are all low risk entries becase you are able to catch lows,  you put your stop below todays or yesterdays price  ( the low) .  I hate to say this bit even the MUCH HATED and MUCH FEARED Coal stocks may be getting some short covering here  ( BTU, ANR, ACI) so we see a nice commodities reaction to a possible Dollar toppiness.  This is something  that I have been mentioning for months, and 1 day does not make a market,  but I like what I see so far.    Except for GOLD/MINERS at this point.    THAT is not a gret reaction to THAT kind off a sell off in the $USD.   I am a big advocate of increased volume on the rise and it lacks a bit in GDX.  Some individual stocks look interesting  ( TC, GFI, RBY, ASM, FSM, SA, etc are “interesting” Charts.  I’m holding off for now.  Some are bullish engulfing however and could do well .

I havent had enough time to fully look around since getting back connected to the the internet – I just wanted to release a quick update of what I see right now. Tomorrows report will finally be something other than ” more of the same”.  YAY!

27 replies
  2. Bill
    Bill says:

    Thanks Alex, been buying the last two days. Have some dry powder left. Not sure what to get.

  6. Gary Savage
    Gary Savage says:

    I was a bit hesitant to call the cycle low in oil because the correction was so shallow, but after today I’m convinced it is in. I would think we should at least get a test of the 38% Fib level at $67.

    Got to love the volume in the double leveraged oil fund.

  7. Onlooker from Troy
    Onlooker from Troy says:

    NBG is breaking above the 100 DMA which has been holding it down; on good vol

        • Cason
          Cason says:

          Greek government owes a historic amount of money to its creditors. So they are borrowing money to pay back other debts, Eurozone partners trying (maybe) to fix with them. Thinks tomorrow agreement could be reached. Check out German 10 year Bund!

  9. Cason
    Cason says:

    This is what I was thinking all day, so really good to have my basic analysis confirmed by a pro. I posted on yesterday’s blog this morning that REXX likely a buy. Added to that today, added UWTI yesterday, havent made any new moves with gas. Added UUP long calls, that was a heck of move down today, should retrace some of that Euro move, also serves as hedge for commodity positions.

    Gold underwhelming considering $$ move. I’m still in the camp it goes net nowhere for next 2 weeks.

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