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Begin part 2 of 3
NOTE: PART 2 PRECEDES PART 1 THIS EVENING. THE PART 1 VIDEO MARKET & TECHNICAL SUMMARY IS AVAILABLE AT THE FOLLOWING LINK. PART 1 AND THE TRANSCRIPT WILL FOLLOW.
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We have DIVIDED the video into component parts: Market Overview, Technical Summary, Economy, and the Next Session. This allows you to choose the segments you are interested in without having to find the spot in a longer video. Click on the link to the portion you wish to view.
MARKET OVERVIEW
TO VIEW THE MARKET OVERVIEW CLICK THE FOLLOWING LINK:
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TO VIEW THE TECHNICAL SUMMARY VIDEO CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/TechnicalSummary.wmv
TO VIEW THE ECONOMY VIDEO CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/Economy.wmv
TO VIEW THE NEXT SESSION VIDEO CLICK THE FOLLOWING LINK:
http://investmenthouse1.com/ihmedia/NextSession.wmv
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HTML CONTINUING PLAY TABLE. Click the following link to view the Continuing Play Table in HTML format:
http://investmenthouse1.com/ihmedia/SSRTable.htm
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CONTINUING PLAYS TABLE
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LEGEND FOR CONTINUING PLAY TABLE
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri =Ascending triangle; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
PLAY STATUS: Buy not hit (stock has not hit buy point); Buy not issued (stock has hit buy point but did not enter due to weak volume, poor intraday action, poor market action); Current (ongoing play already entered); Entered today (entered the play that session); Exited (closed the position); Target hit (play hit initial target; will note if took all or partial gain or let run further); Trailing stop (exited using a trailing stop loss).
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AAPL 07/08 Rolling 198.67 +3.55 138.55 149.91 20M 23M 207.91
Current. An important leader that bounced with better volume Thursday. Key resistance at 200 from the October gap up, then the Oct/Nov peaks that butt up to the bottom of the January consolidation at 205ish. Those are the key levels for this stock and the market because the indices mirror what AAPL has done. Will see if further upside Friday takes AAPL on through this resistance level or if it pauses ahead of the three day weekend.
AAPL 04/15 Test 20 198.67 +3.55 119.69 132.77 20M 25M 207.91
Current.
AMED 01/30 ABCD Up 57.14 +0.96 57.05 67.95 1.2M 1.5M 54.77
Current. Slipped higher Thursday with a short bounce up from the 10 day EMA (55.79) and volume still hanging in at just under average. Fourth straight sessions higher now, and getting to resistance levels with continued upside. If AMED carries forward Friday, will see if it gets to the early February peak (58.83) and how it reacts there.
ANN 02/05 Flag 15.05 +0.16 15.12 17.65 1.4M 3.2M 14.06
Current. Soft step up to close positive, but really nothing more than a lateral step at this level. Still working along with the low volume over the 10 day EMA (14.49), but is holding this level fine for now so letting it continue. If it can start to run, great. If it retreats ahead of the weekend, we will see where it can bounce.
ASH 01/27 Asc Tri 43.04 +1.53 42.69 49.89 1.6M 1.5M 41.44
Current. After spinning laterally for two sessions, ASH burned higher off the 50 day EMA (40.56). Volume was up to above average as well with this start higher. Now we see if ASH can continue to run towards resistance at 44 with the early February peak on Friday. That is the next key area to move through.
BWLD 01/26 Test BO 48.40 +0.79 46.35 53.35 1.3M 600K 45.97
Current. Closed higher, but got slammed after hours with a miss on earnings, poor outlook. Going to see a gap down, but it is holding near that 42.50 level with the earlier highs, pre gap level from January. It will be a battle Friday, but we will see if BWLD can bounce. If it can retake support with upside (serious support level at 44) and hold the move, ok. If it retakes the support but gives it up, or cannot move past those levels then it is likely headed for further downside. Will have to see if this one can show very serious strength Friday to keep us in the play.
BWLD 01/07 Rolling 48.40 +0.79 40.62 44.00 1.3M 500K 45.97
Current.
CMG 01/26 Test BO 101.12 +1.61 98.45 110.00 942K 550K 96.22
Current. Bounced higher at the close, but this restaurant also got knocked back after hours. Holding near that 98ish support level with prior highs so will see if it can bounce from that level. If it can bounce and start to work for the upside again, great. If it begins to slide back further, will have to watch our stop and see if it can hold up.
CNMD 02/04 ABCD Up 22.46 +0.08 22.89 26.45 105K 265K 21.56
Buy Not Hit. Nothing wrong with this side step as CNMD continues to bounce over the 50 day EMA (22.13). Still, lower volume and did not really take part in the upside market day. Going to let this one play out further and will most likely have to wait until next week to get the buy. We will see what it does Friday though.
CRL 02/09 Cup hdl 36.13 +0.31 36.44 41.94 620K 1.2M 34.77
Buy Not Issued. Bounced solidly, but retreated off the highs into the close so we held off the buy. After this modest upside we will see if CRL can continue to break over the 18 day EMA (36.09). If it does and can hold that move, then we look for a way in.
DNDN 01/21 ABCD Up 31.09 +1.96 29.54 33.48 6.9M 3M 28.98
Current. Opened at the 18 day EMA (29.15) and then blasted higher on volume. Cleared through the 30ish range with all those prior highs and then just kept running. These sometimes will test the big move, and if DNDN does that we will let it. Not going to complain if it continues, though.
EAT 02/08 Test BO 17.54 +0.39 16.81 19.91 1.4M 2.8M 16.38
Current. Bumped higher to move over the January peak (17.42) though volume did fade further below average on the move. Still, moved through a fairly key level Thursday, and now will see if this move can stick. If it does, awesome. If EAT fades Friday, will just see where it can manage to bounce.
FCX 02/05 Dbl btm 74.17 +3.14 70.96 84.92 23M 20M 68.77
Current. After the back to back doji, FCX busted higher Thursday with stronger volume. Good move to see out of the double bottom pattern but now FCX will have to deal with more serious resistance from the December lows (75.96) and 50 day EMA (76.53). Moving for now, though, so seeing what it can do ahead of the weekend.
GMCR 02/01 Test BO 83.02 +0.49 86.12 99.88 1M 2M 80.91
Current. Just a slight nudge to the upside with this doji, but really nothing more than a lateral step over the 18 day EMA (82.29). Still looks hesitant to swing either way as it closed off the intraday highs and lows, but ok to let it run for now. Will see if it can make a move ahead of the three day weekend.
GOOG 02/05 BullRev 536.40 +1.96 539.42 574.45 2.4M 4M 521.91
Current. Tried to work to the upside, but held under the 10 day EMA (537.46) with a close off the intraday high. Struggling somewhat as it tries to work higher with volume fading back below average. Ok to let it be though as it can just continue working laterally over the 525ish support. Will see if it gathers strength and can then start to bounce up.
HOLX 02/04 Test BO 16.11 +0.08 16.41 19.91 3.6M 5M 15.68
Buy Not Hit. Tested earlier in the week and now just a short bounce up off the 10 day EMA (15.96). Turning in the right direction off light support is a plus, but closed off the intraday high so not able to get the buy yet. Still, volume did increase with the upside, so will look closely to see if it continues heading into the weekend. Any buy will likely happen after the three day weekend though.
HUM 02/05 ABCD Up 46.82 -0.28 47.69 54.55 2.1M 3.5M 45.44
Current. Faded just slightly back, and a decent bounce up from the intraday low at the 50 day EMA (46.11). Holding the support it needs to for now as volume fades further below average. Going to see how things play out and if HUM can hold the line and bounce.
ILMN 02/10 ABCD Up 36.63 +1.04 36.53 40.97 1.4M 4M 34.11
Entered today. Jumped off the 200 day SMA (35.57) and out of the ABCD pattern to give the buy. A cleanly set up ABCD pattern and for now just letting that work for us.
IPAR 01/29 Test BO 13.41 +0.18 13.52 16.00 59K 150K 12.48
Buy Not Hit. Tested intraday to key support at 13ish and then bounced to close for moderate upside. Solid action Thursday, but volume was lower and IPAR closed under the late January high (13.62 opening). Will have to see continued strength towards the prior peak before moving in.
ISRG 01/28 Test BO 329.77 +7.82 335.64 374.75 421K 700K 325.68
Current. Bounced higher Thursday and then held onto the entire move at the close. This one was getting soft on us, but the action turned more positive Thursday. Not out of the woods yet, though, and want to see ISRG continue now. Will see if it ends the week on a positive note.
MJN 02/09 Asc Tri 45.30 -1.26 47.21 54.55 3.7M 6M 45.54
Buy Not Hit. Turned back down Thursday after bumping the January and early February peaks for the previous two sessions. Volume spiked on the downside also, but as it is holding over the 50 day EMA (44.83) we will continue to watch it. Going to see how it finishes up the week.
MR 02/02 Test 50 37.13 +0.81 36.94 41.95 476K 1.4M 34.77
Entered today. Gapped higher, filled, and then started to bounce right back up to give us the buy. Held all the gain at the finish and closed with a doji. After breaking over the key 36 mark Wednesday, MR looks ready to run.
NETL 02/05 Test BO 50.64 +2.26 50.68 56.94 1.2M 750K 47.13
Entered today. Reclaimed that key 48 mark Wednesday, and gave us the buy with this Thursday bump higher. Strong move on heavy volume and this one looks ready for more.
NFLX 02/05 Test BO 63.36 +1.87 61.42 69.97 1M 2.2M 59.49
Current. A hold over the November high and then bounced solidly Thursday. Did clear over the January peak with this move, but did so with volume down below average. Will see how it sticks this move Friday.
NKTR 01/29 Test BO 11.78 +0.09 11.88 13.97 291K 1M 11.05
Current. Tapped the 18 day EMA (11.43) on the low and then bounced to finish just barely higher on the day. Very low volume with the move, and does not appear to have the power to make the break on Friday. Will likely have to see how this one continues along at this level and see if it can bounce next week.
PLXS 02/02 Test BO 32.83 +1.02 32.22 39.94 481K 425K 30.74
Entered today. Had looked shaky for several sessions but not the case Thursday with the bump higher on volume. Good enough for the buy as it broke through layers of resistance and now seeing how it continues.
PNRA 01/26 Test BO 72.91 +0.54 71.97 79.50 783K 650K 70.77
Current. Closed with slight gains but then was down after hours. Earnings Thursday, and it is the outlook that is hurting it more than anything else. Holding around 70.75 after hours, but that is over key support areas so we will leave it. Looking at the 70is level with the February low, and then down at the 69 mark with the December high, January pre gap level. This one looks like it will be ok, but will see what kind of bounce it takes Friday.
RIMM 02/05 Test 50 69.17 +1.99 68.11 79.94 14M 22M 64.76
Buy Not Issued. Bounced up off the 10 day EMA (66.60) but not too trusting of this move so held off the buy. Decided to see if it tests back to the top of the consolidation (67.85ish) from the past week before we move in to more positions. If it can bounce at that level, then we will move in.
RIMM 01/13 Pennant 69.17 +1.99 66.11 79.94 14M 22M 64.48
Current.
RMD 02/10 Test BO 55.50 +1.22 55.08 61.89 911K 6.2M 52.77
Entered today. Held the doji over the January high and 10 day EMA (53.74) on Wednesday, and then the thump higher Thursday gave the buy. Moved on better volume with the upside after the lighter volume testing. Acting just as it should and now we see where it takes us.
SHLD 02/04 Test 50 90.52 +1.09 91.31 104.89 1.6M 2.4M 87.68
Current. Still working in this lateral range over the 50 day EMA (88.27), but bouncing up from that support nicely. Looks ready to hold up at this line, and now we see if SHLD can take the bounce to get the ball rolling again.
SII 02/01 Cup hdl 32.18 +0.39 32.04 38.94 4.5M 8.2M 29.81
Buy Not Issued. Further upside Thursday and the buy is out of reach right now. Going to see how this one plays out and if it tests. Dropping it for now.
SJT 02/09 ABCD Up 21.38 +0.29 21.33 24.94 149K 350K 20.23
Entered today. Bounced up from the 18 day EMA (20.81) and then held the move into the close to give us the entry. Moving solidly out of the pattern now and just letting that work for us.
SOA 01/28 Rev HS 13.71 -0.04 14.16 17.94 1.5M 1.8M 12.96
Current. Bounced Wednesday and just a short side step with this Thursday doji. Holding up just fine over the 10 day EMA (13.51), and looks to be more of a continuation move. Will see if SOA can start up Friday to get back to that support level at 14.
TEVA 01/29 Test 50 58.30 +1.44 57.59 64.32 5.7M 6M 56.05
Current. This is the strength we were looking for. Gapped to the 18 day EMA (57.27) and then clicked higher with volume. Retreated off the intraday high modestly to close, but still a very solid move. Now things get interesting as TEVA holds under the January high (59.34 close, 58.62 open). Still not a clear cut move higher in the market overall, though, so will have to see which way that turns over the next couple of sessions as it will determine a lot. This one looks good for now though.
WBSN 01/21 DB hdl 19.88 +0.14 19.36 23.44 408K 450K 19.11
Current. Scratching out the upside with this move as it finished back from the intraday high. WBSN has worked higher steadily, though it is seriously slowing at the January peak (19.89). Will have to see how WBSN deals with this on Friday.
XTEX 01/29 Pennant 9.17 +0.08 10.01 11.95 115K 525K 9.31
Current. Bounced up from the 9 dollar mark, but not much of a move with the lower volume. Has turned where it had to, but now need to see the bounce that can stick for more gain.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AMT 02/10 BearFla 42.52 +0.93 41.41 38.92 3M 3.4M 42.31
Buy Not Issued. Bounced and that carried AMT up through resistance from the 50 day EMA (41.99). That was the line in the sand and AMT crossed it so dropping it.
AMZN 02/08 Rollove 120.09 +2.73 116.47 108.55 8.3M 12M 120.68
Buy Not Issued. Volume was higher with this bounce, though it still remained below average. AMZN holding under a line of support now with the January low (119.48) and 18 day EMA (121.16), but this is where we want to see it stay. It may try to test up further to the 50 day EMA (123.98), but really do not want to stick around for a break higher to that level. Will see if things slow down ahead of the three day weekend.
BCSI 02/04 BearFla 25.90 +0.81 24.21 22.18 355K 700K 26.44
Current. Volume was below average, but did increase as BCSI bounced Thursday. Held the entire move into the close, but also stopping at the prior February highs at 26. Pretty key resistance level to hold, so will see if BCSI can stall out and start to turn back down.
BTU 02/02 BearFla 44.01 +1.36 44.18 40.55 7.3M 7M 42.55
Current. Key point for our remaining positions as BTU bounced up with higher, above average volume. Had looked like it could turn lower after the Wednesday move, but with this upside we have to be careful. Need to see a hold under the 50 day EMA (44.74) to keep things decent.
BUCY 02/09 BearFla 56.90 +3.11 53.81 47.91 3.1M 4M 56.04
Exited. This one bounced on us and moved up through the 50 day EMA (55.58) resistance. Not what we wanted to see and had to close it down.
CHKP 02/10 BearFla 32.92 +0.17 32.57 30.52 1.7M 2.5M 33.21
Buy Not Issued. Small upside Thursday and putting pressure on the 50 day EMA (32.85) resistance. Still a good place to break lower from, but want to see the weakness from this one Friday. Looking for the drop down that holds.
COH 01/26 BearFla 35.38 +0.65 34.85 32.05 4M 5.5M 35.88
Current. Zipped higher with volume swelling as well. Key point with the bounce now as it closed off the intraday high to hold under the 50 day EMA (35.44). Also right at the earlier February peak (35.73) and this is where COH has to fail.
CRR 02/09 BearFla 65.07 +1.49 63.38 58.32 192K 450K 66.08
Buy Not Issued. Bounced up towards the 65ish resistance, but did so with very light volume. Not a bad move for the downside as this test up can give a better entry. Will just see if things can turn back south for CRR to get us looking at an entry.
IVN 02/10 BearFla 14.79 +1.04 13.68 12.15 1.8M 2.2M 14.45
Buy Not Hit. Time to drop this one as it bounced up through key resistance. Not a downside set up we want to play after this move.
IYT 02/09 BearFla 70.80 +1.18 70.31 66.39 888K 1.2M 71.38
Buy Not Issued. Bounced up to the 18 day EMA (71.19) with volume higher, but still like this one. In a bearish position still, and moved the buy point up after this bounce. will see if it stalls out and starts back down, and ready to jump in if the move lower sticks.
MFLX 01/23 Put 21.40 +0.25 24.22 22.00 105K 175K 21.71
Current. Bounced again for the second day higher, but volume dropped off sharply to below average. Also closed off the intraday high and this looks to be more of a relief bounce shaping up. Will see how far it continues upside as things still have a downside bias for this one.
MON 02/04 BearFla 75.76 +0.19 75.56 70.15 5.3M 6M 76.78
Current. Gap and rollover Wednesday, but holding its ground Thursday with the doji. Also bounced up off the intraday low with higher volume so not the best action. Still, there is 76ish resistance, so giving things more time to play out and will see if it can fall Friday.
NVDA 02/06 HdShldr 17.12 +0.75 16.07 14.22 17M 20M 17.04
Exited. Gapped up and started to carry higher so shut NVDA downs. Broke through that key resistance with the shoulder at the 17 mark and not a level we want to ride this one to.
PCLN 01/28 Rollove 208.90 +2.50 196.62 185.00 858K 1.8M 207.31
Exited. After that decent looking doji on Wednesday at the 50 day EMA (206.28), PCLN went ahead and moved higher. Not what we were looking for and had to bag it in case it started to make a more serious move.
QID 02/09 Rollove 20.57 -0.65 21.21 24.21 19M 20M 20.66
Current. Sold as NASDAQ bounced, but it held the 50 day EMA (20.43) at the close. Decided to wait and see if this bounce remains strong, or if the NASDAQ can start to fade back. May be a further upside push as shorts don't want to be short over a long weekend. Will see how that pans out, and if things begin to settle back after the weekend.
SDS 02/08 Rollove 36.81 -0.80 37.21 41.45 55M 45M 35.95
Buy Not Issued. Fell back as SP500 bounced, but managed to hold easily over the 50 day EMA (36.13). Moved buy point as SP500 did not clear the 50 day EMA (1098.36), and still seeing if it will roll over.
SLAB 01/23 BearFla 44.44 -0.12 43.87 40.77 1.4M 850K 42.88
Current. Gap lower and then surged back to the 50 day EMA (44.98), but got swatted right back to close flat. Had a tough day with an upside market as it was downgraded. A plus for the bear flag pattern, but it still has to fall. Giving it a chance to Friday.
SLG 02/08 Rollove 45.33 +0.58 44.04 40.03 1.1M 2.5M 46.41
Buy Not Issued. Modest bounce to move to the 10 day EMA (45.60), and then it slowed once there. Also holding under the late January lows at 45ish as volume fades to further below average. Setting up solidly for the downside, but will see if the market takes things that way. Will see if it can fall, but that is most likely next week.
SNDK 02/04 BearFla 26.79 +0.70 26.10 23.22 10M 12M 27.48
Current. Bounced to close over the 50 day EMA (26.58), but still struggling as it finished off the intraday high. A good layer of resistance with the prior February highs as well, but this is where it should hold. Looking for the downside pressure to take over Friday and push this one lower.
TRLG 01/23 Rollove 19.34 +0.47 19.54 17.54 212K 750K 19.72
Current. Held under the 19 mark nicely for four sessions, but bounced back over that level Thursday. Volume was lower and TRLG held under the 18 day EMA (19.44) so we left it, but it needs to turn back down Friday. If it cannot start to give up this move we will have to shut it down.
WSM 01/25 Rollove 19.92 +0.50 19.60 17.55 1.6M 3M 19.55
Trailing Stop. After sputtering for a couple sessions, WSM started to bounce with higher volume. Not the action we want for the downside so shut it down before it could start to move past more serious levels.
End part 2 of 3
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