Part 2 : More On These DOGS

Quick buy update ....

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The Dogs Are Lining up.

After any extreme sell off takes place and people finish  discussing all the reasons why there can be no recovery, it's often a good time to go shopping.  Why?  When it gets overdone, the bargains can be great %-Wise.  Recently while OIL  & NATGAS   sold off beyond expectations , I noticed that the equities stopped selling off and began building constructive bases. Temporary bottoms or permanent? Its too early to say for sure , but trade-able?  Most certainly.

 Here at Chartfreak, we have been buying & trading  them for weeks now.  I want to share some of the charts and ideas that we are again looking at , since I am expecting another leg higher.

OIL Feb 10- Some said "Bear flag"  We had been trading energy stocks , and I  saw signs that OIL wanted to go higher.


Feb 18 - consolidation/ base building. I posted this chart  , I wanted a drop to $49 actually...

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After watching various sectors endure some  prolonged sell-offs, we've been able to buy near the lows and make some decent gains %-Wise.  This does raise a few questions.  Are these THE lows?  Are these sectors  just bouncing from oversold conditions, only to continue lower later with a double bottom or even making lower lows?  Lets start off by looking at some "lows"

 This is our current chart of OIL


You see definite signs of improvement in this bounce, but I wanted to point something else out just to keep us alert...

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FRIDAY – We Have Another Sign

 The Thursday report covered so much and the weekend report will wrap up the weeks activities, so I dont always feel the need to write a report on Friday.  There are actually a few things of interest to note since yesterday however, so I wanted to cover those before the weekend.  I'm going to start with...

OIL -  As expected, A productive & Trade-able bottom for now. More on OIL in this weekends report.


Moving to the markets ...

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Did You See It? Traders To Your Stations

Did you see what I saw yesterday?  I had mentioned in the weekend and daily reports  what I was looking for,  and by the end of the day I was fairly certain that we got what I was looking for . First lets review the markets and then discuss other sectors.

Again, I had been shorting the Nasdaq at prior highs using TZA, but I stopped last week and pointed out why last wkend...


What do I see now in the NASDAQ, SPX, and DJIA?...

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Buy The Dip?

At times we sell and stay out, conditions may not be setting up for a low risk buying opportunity.  At other times, however,  we wait patiently for the trade to come to us and then we Buy The Dips.  Are we in that position now? Some sectors are saying,  "Yes, you may want to buy the dip!" lets review several sectors first and then discuss what might be setting up as a good long entry.   To the charts!...

QQQ - this weekend I said I wasnt shorting this set up anymore at the blue arrows anymore / I saw internal strength


Yesterday we saw this


Here is what I am thinking...

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My observations in last weeks reports and the  weekend report are playing out very well and my recent recommendations in Energy  are already  up 20 - 40 % .   There isn't much to add, but we are watching how things unfold to try to see whether we have further upside in some sectors, reversals in other sectors , and so on.  This helps us to see where our  opportunities may arise in the future. To the charts....

I expected a turn down, but wasnt shorting it this time


Why wasnt I shorting it this time? ...

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Learning Obedience ?

I have learned over the years that you never win when you try to tell the markets what to do. It is best to be patient and listen to what the markets want to do... being patient and less forceful  can help  keep one from  getting bitten . With that in mind, I have a lot to look at in the weekend report, Equities, Natgas, Oil, Energy stocks, Gold & Miners , etc so ...To The Charts!

After shorting the trading range a couple of times at the tops with TZA  , I posted this Friday Morning


I wanted to watch things here and even though the markets did reverse into the close and started to head down, I still didnt take the short side. Let me show you why...

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Friday , one last day in the trading week.   'Friday reports' are often not necessary,  unless something has changed. For the most part , Tuesday ,Wednesday, and Thursdays report still apply , but there are a few noteworthy developments , and today we have JOBS REPORT FRIDAY , released at 8:30 A.M. Eastern time , so let me just cover a few things.

 I posted this yesterday


I had been shorting the blue arrows and selling 1/2 at the lows. It was fun while it lasted , but I said I was closing that position, some things looked different...

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The website went down and my apologies for this report being released a little late, thank you for your patience! I had so much to cover, so I am going to try to write less and allow the charts to speak for themselves, feel free to ask questions in the comments section if you need my help...I will be available on & off today. To the charts...

QQQ -  Same ole same ole.


I had been shorting the top ( adding TZA) and  closing half at the lows,  also watching the 50sma. I closed out this position , but may add if we reverse & drop lower again.   It is still unclear which way this will eventually break,  here is why...

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