Thank U-Alanis Morissette Re-Worked-Sing ALONG
https://www.youtube.com/watch?v=i-jSWME37As
Thank you Stimulus
Thank you Janet Y.
Thank you, Federal Reserve
Thank you QE4
Thank you GDP
Thank you, thank you market!
S&P 500 (SPY) Subscribers: Positive Pivots in all
Russell 2000 (IWM) The high from October 29th is 111.62. Needless to say that is a place to see clear
Dow (DIA) Cleared the channel handily.
Nasdaq (QQQ) Another new high with 82.70 now major support. Don’t forget that this had a runaway gap on October 18th and hasn’t even gone parabolic from that level yet!
XLF (Financials) 21.04 high matched with close just there
SMH (Semiconductors) Inside day which could be a gift! Subscribers: Today’s low will be the perfect risk
XRT (Retail) Whoa! Again.
IYT (Transportation) New highs
IBB (Biotechnology) Confirmed return to a bullish phase if the 50 DMA holds
IYR (Real Estate) 63.88 place to hold and the 50 DMA would be the place to clear
XHB (Homebuilders) 31.40 good place to clear next
GLD Even when it gaps higher, it’s still boring
OIH (Oil Services) ok-new highs
XLE (Energy) 87.62 recent highs
XOP (Oil and Gas Exploration) Over Thursday’s high, takes out a trendline from the old high
TBT (Ultrashort Lehman 20+ Year Treasuries) TLTs gapped above 104.11, therefore if holds gap, could be a good bottoming formation-especially if it clears the 50 DMA
UUP (Dollar Bull) Interesting inside day in its recovery phase
EEM (Emerging Markets) After a slingshot low, cleared the 200 DMA and has to confirm the phase change
FCG (First Trust ISE Reserve Natural Gas) Confirmed phase change to bullish. Subscribers: As long as today’ low holds, looks poised
EWG (Germany) Nice follow through-looks really good longer term
FXI (China) Subscribers: Look for a confirm over the 200 DMA
Longs: On categories: Gap higher days we go to all categories and choose ones with lowest risk that break the opening range. On weaker days, we look at Category 3, especially if the picks hold S1, previous day lows or a major moving average and have a good risk on the reversal. The difference between Category 1 and 2 is the stock condition-a Condition 1 is strongest stock and more likely to make a parabolic move.
Note: Anything that is on this list is a candidate for a swing trade-(of course market condition is a factor) -use the max risk mentioned along with an opening range stop using fudge factor and time confirms. I suggest you decide on 1 or 2 that have a risk you like and then position size accordingly
**NOTE: New and Old Subscribers: I do not include on the list 1. Anything with a weekly or daily RSI over 92 2. Anything within 4 days of reporting earnings 3. Anything with a risk over 1 ATR from its current close 4. Anything with only one day under the Floor Trader Pivots (unless specifically noted. 5. Anything with a potential slingshot or brick wall high (new 60 day high, close in the bottom 25% of the intraday range.
Category 1: (Aloha) N/A
Category 2: (Pipeline) N/A
Category 3: (Double Up) Positive Phase, Condition 1 through 4, Positive Pivots which means can either buy a opening range breakout or candidate for Opening Range Reversal, with Risk S1 or previous day low, whichever is lower unless noted differently, Target- Day to at least 3 ATRs from entry: (Opening range reversals are good on anything above S1)
BSX Over 12.00 now with risk to the 50 DMA 11.84
BUD Miniswing trade to hybrid in holiday/football season. Near the highs 104.74 but have to use a daytrade to miniswing risk against today’s lows or S1.
VMC On the 10 DMA so if today’s low holds, another one crossing the 80 monthly moving average
CLF Inside day and although it closed red, it has positive pivots. Like over 27.49 and has to hold today’s low
CCL In for a swing but like even better over 36.32 recent highs. Has gap to fill to 37.65. Crossing the 80 monthly moving average
HCA One more push over 46.00 will clear the 10 DMA Like to see that happen very soon.
Category 4: (Rip Tide) Oversold (2 or more days under FTP), Condition 4, Needs to clear R1, Risk previous day low unless noted differently, Target- Day to at least 3 ATRs from entry:
Phase Change
CNX Unconfirmed phase change to warning but one more shot to clear 36.27 then rock and roll.
IGT unconfirmed back to distribution, but not dead yet. We will use S2 again for a stop and if see a move over today’s high, add
CYH Most likely will gap above the 200 DMA and if does, use gap rules against the 200 DMA
USG Unconfirmed bullish phase. Looking for entry if holds the 200 DMA
MTW Cleared but closed on the 200 DMA-big watch tomorrow since moving averages are converging
NEM Unconfirmed phase change to recovery. Like if today’s low holds for move up-possible double bottom on monthly chart from 2008 and now
C Over 50.30 looks good with risk to today’s low
THC 2 inside days. We have a small position which will either be stopped out under today’s low or look to add over today’s high for swing
Shorts:
Category 5: Titanic-Bear Phase, Negative pivots, not oversold, Risk R1 or previous day high. Target: Day to swing
TEL Broke S1 end of day. Will look to short if cannot clear 52.27 with first support 50.76
Bye For Now
