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us stock market, top stock pick
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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The Market Summary video is DIVIDED 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:
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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 including additional information, e.g. option tickers, after hours pricing
http://investmenthouse1.com/ihmedia/SSRTable.htm
CONTINUING PLAYS TABLE
* * SPREADSHEET DOWNLOAD * * *
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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 210.71 +1.38 138.55 149.91 13M 23M 207.91
Current. This is an important stock, and it was breaking higher Thursday after working laterally for two sessions. Really quite solid action at this point and as it is a leader we will see how things pan out. Do have to be on the lookout for the jobs report Friday, however, and will see how that factors in to things.
AAPL 04/15 Test 20 210.71 +1.38 119.69 132.77 13M 25M 207.91
Current.
ABVT 02/19 Flag 61.60 -1.14 63.51 69.95 100K 175K 59.89
Current. Third day of testing, and shaping up nicely as it holds over the 18 day EMA (61.37). This one is primed to bounce, but will see if it can do that Friday, or if it tests further to the 50 day EMA (60.44) before holding.
AET 02/18 BullRev 30.65 -0.63 29.94 34.91 6.8M 8.2M 29.77
Current. Stepped lower Thursday, but bounced nicely off the intraday low at the 50 day EMA (30.26) support. Nothing wrong with this test back down, and AET can continue to fade to that level further if needed. If it starts right back higher again Friday, though, no complaints from us.
AMED 01/30 ABCD Up 60.37 +0.78 57.05 67.95 886K 1.5M 57.24
Current. After that Wednesday turn lower, AMED is bouncing nicely over the light 10 day EMA (59.37) support. Working along the uptrend just as it should right now, but still have to see if it has the strength to move through the January and February highs at 62ish. Will watch to see if AMED continues to rebound Friday.
ANN 02/05 Flag 17.97 +0.49 15.12 17.65 1M 3.2M 16.77
Current. Gravestone doji Tuesday, then gapped lower to that Wednesday doji. Now showing a credible bounce back, but hit the prior closing high and then closed there. Showing life still, but a lower volume move so will have to see if it can stick Friday. Still ok at this point to let ANN test more, so will see if it does indeed fade back any Friday to start the testing.
ASH 01/27 Asc Tri 50.09 -0.26 42.69 49.89 1.3M 1.5M 46.98
Current. Just slightly lower with this doji, but not crazy about this close off the intraday high. Had been looking for more after seeing the short Wednesday upside, but at this point does look like it could still test. If it fades we see how it reacts at the rising 10 day EMA (48.09).
ATI 02/18 ABCD Up 47.49 +0.72 45.34 51.91 2.3M 3M 44.48
Current. This one took a decent step higher, but closed back from much better intraday levels. Second session now of finishing off the high and ATI is slowing down after bouncing nicely over the late February peak. Has not been a very long run higher, but this is one that could also benefit from a little pause. Going to see how the jobs report turns out and how that affects this one.
ATW 02/16 Rolling 35.48 +0.34 34.21 39.45 881K 1.3M 32.03
Buy Not Issued. Gapped higher more and a decent move, but decided to hold off the buy. With the jobs report coming out there is no reason to rush into any upside, so we can just see how it reacts at this level with the 50 day EMA (34.97) and early February high. Then will see if it can still be bought.
BMRN 03/02 Asc Bse 21.67 +0.22 21.32 24.95 959K 1.4M 19.83
Buy Not Issued. Another step higher with volume still just under average. Not really at a level we want to buy, so dropping it for now until it can set back up.
BWA 02/24 Asc Bse 38.18 -0.40 38.69 44.88 1.3M 1.8M 36.31
Current. Gapped down, filled, and then slid back to finish with a doji over the 10 day EMA (37.92). Not the best testing, but as it is holding the moving average and then late February levels it is still in decent shape. Do want to see strength at this support Friday, but if it continues to fade we look for support around the 18 day EMA (37.47).
CMG 01/26 Test BO 109.03 -1.05 98.45 110.00 317K 550K 104.89
Current. Showed that doji Wednesday, so not a shocker with this Thursday fade back. Not too serious a move with the lighter trade, and does seem to be testing normally. Thus, just seeing how it reacts with a fade back to the 10 day EMA (106.79).
CMI 02/24 Flag 59.73 +0.55 56.82 64.85 2.6M 3M 55.78
Current. Short step higher, but showing a doji similar to the Wednesday action with this finish off the high. Stalling now after clearing through the February peak on Monday, so going to watch how it holds this level Friday. If it can simply begin to work laterally, that would be good enough and a great place to start running from again.
CNMD 02/04 ABCD Up 22.77 +0.29 22.89 26.45 61K 265K 21.56
Buy Not Issued. Squirted higher and held the move, but not quite enough for the buy. Needs to continue the upside to follow through, but also need stronger volume before we pick it up. Overall in good shape, but as it pauses under the early February high, a short reach lower and bounce could give this move more power.
CY 02/27 Flag 11.98 0.00 11.98 14.22 2.2M 4.5M 11.49
Current. Gapped up, tested back to the 18 day EMA (11.74), and then bounced to finish flat for the day. Like this action better with the test of support after seeing CY close down from better intraday levels over the previous few sessions. Ok for now to just see how it holds up with this support level, and see if it can do anything with the Friday jobs report.
DNDN 01/21 ABCD Up 34.85 +1.23 29.54 33.48 6.7M 3M 31.94
Current. Gapped higher on news that its new cancer drug will likely be approved in the spring, and will be very popular. Did close back from the intraday high, but working solidly higher still. Will see if DNDN can stick to this level, or if it fills the gap and then starts to bounce again.
EAT 02/08 Test BO 18.08 +0.23 16.81 19.91 2.5M 2.8M 17.24
Current. Short step higher, and like many others, it did close down from the intraday high. Still working laterally along the 18 day EMA (17.74) though, and doing what it needs to for now. Will see how the news affects this one Friday, but right now it is at a great place to start running.
F 02/23 Asc Tri 12.79 +0.10 11.77 14.22 90M 95M 11.77
Current. Short gap up to a hanging man doji Thursday. Not a much of a gap at all so it could stick to this level, but then again a test Friday is not out of the question either. Has had a pretty decent week so far, so will just see how things wrap up and see how it is set up for next week.
FIRE 02/22 Flag 26.57 +0.77 24.94 28.00 338K 400K 23.89
Current. Gravestone doji Wednesday, but went right ahead and started higher again Thursday. Still finished off the intraday high, but looking better with this resumed upside. Will watch it to the end of the week to see if it can keep bouncing, and see where that leaves us come Monday.
FNSR 02/13 DB hdl 13.34 +0.41 11.75 13.97 3.3M 1.2M 11.97
Current. Gapped down to the 18 day EMA (12.09) and then bounced right back up for solid gain ahead of earnings. Then faded back to around 12.92 on earnings after hours to leave this one at the Tuesday/Wednesday closing levels. Nothing wrong if it can just continue laterally, but will watch for this volatility to subside Friday and see if it can just resume the steady upward trend.
GMCR 02/01 Test BO 87.32 +0.09 86.12 99.88 626K 2M 83.21
Current. Holding its ground Thursday after testing lower then bouncing back to finish with a doji. Like how it is testing over light 10 day EMA (85.25) support and just seeing if it can hold this level heading into the weekend.
HCSG 03/01 Cup hdl 22.51 +0.05 22.49 25.94 71K 250K 21.22
Buy Not Issued. Stepped laterally, and a nice intraday test down that bounced back to a doji. This is better action than we saw Wednesday, and HCSG is still setting up for a buy. Can see if it will start to bounce Friday or early next week and hold, and then we can pick it up.
HOLX 02/04 Test BO 17.11 -0.04 16.51 19.91 3M 5M 16.46
Current. Gapped up and then faded back to finish just slightly in the red Thursday. Pretty solid testing still and we will just see how it continues and if it sticks over the October '09 high and 10 day EMA (16.89). Then we see if it takes the bounce there.
HUM 02/05 ABCD Up 47.12 -0.37 47.69 54.55 2M 3.5M 45.44
Current. Slight fade back, but pretty decent action still with the intraday test down to the 50 day EMA (46.46) that bounced back. Really just holding in this same range that started towards the beginning of February, so we are just waiting this one out. Great position to run from, just has to actually do it.
ILMN 02/10 ABCD Up 38.27 -0.61 36.53 40.97 655K 4M 35.97
Current. Pretty solid action this week, so not too concerned with this Thursday fade lower. Moved with smaller, below average trade, and can just see how it holds the support with the February high (37.85) that is directly below. Taking its time, but positioned to run so we are giving it that chance.
ISRG 01/28 Test BO 354.49 -8.31 335.64 374.75 580K 700K 342.44
Current. Gapped lower, but did manage to bounced lightly off the intraday low at the 10 day EMA (351.24). Not an unexpected move after the back to back gravestone doji, but holding up over light support. Will now see if ISRG sticks to this support, or if it fades lower to the 18 day EMA (345.03) before bouncing.
JOSB 02/25 Flag 46.45 +1.04 44.81 51.75 314K 385K 42.48
Buy Not Issued. Jumped higher off that Wednesday doji and could never get the buy with this one. Time to drop it until it can set back up.
JOYG 02/13 Test 20 54.35 -0.16 49.05 55.00 3.2M 4M 49.97
Current. Saw that big gap up Wednesday, and just held with a lateral move Thursday as it gapped up then faded back to close. Still seeing if JOYG starts to fill down towards 52.50ish and bounce or if it can just take off again from this level.
KSU 02/25 Cup 34.88 +0.20 35.28 39.94 603K 1.4M 32.81
Current. Very slight upside Thursday with this doji over the 10 day EMA (34.42), and holding up as it should after two days of testing. Now just seeing if KSU sticks at this level with the December and January highs for support and can bounce Friday. Also have to watch how the jobs report affects things Friday.
MDZ 02/25 Cup hdl 8.31 -0.06 8.44 10.35 213K 900K 7.85
Buy Not Issued. Short fade on Thursday with light volume to hold the 10 day EMA (8.28). Nice action at this level over light support, and primed to start bouncing. Just have to be patient and see how things finish up this week.
MR 02/02 Test 50 38.00 -1.80 36.94 41.95 3.3M 1.4M 37.11
Current. Announced a public offering of 4M American depository shares and that gapped MR lower. High volume move but did hold the uptrend with this doji over the 18 day EMA (37.49) so we let it continue. Has bounced from this level of support nicely throughout February so just seeing if it will do the same Friday.
MTW 02/19 Cup hdl 12.45 +0.16 12.02 15.45 1.9M 4.2M 11.22
Buy Not Issued. Showed a big gravestone doji Wednesday, but went ahead and bounced right back up Thursday. Not a big move by any means, but still showing life under the mid February high. This one is in pretty decent shape, so we just let it be and see how it wraps up this week.
NETL 02/05 Test BO 56.18 +0.59 50.68 56.94 365K 750K 53.88
Current. Tapped intraday at the 10 day EMA (54.68) and then bounced back to finish with a doji. Slight move higher, and holding up as it should after the Wednesday selling. Ok to see how it ends the week if it continues to work along the uptrend.
NFLX 02/05 Test BO 68.01 +0.46 61.42 69.97 1M 2.2M 63.77
Current. Opened at the 10 day EMA (66.75) and then bounced to post modest gain. A lower volume move with this upside, but still rebounding after that Wednesday gap down. Just letting it run to see if it can keep recovering.
NKTR 01/29 Test BO 14.58 +0.26 11.88 13.97 1.5M 1M 12.98
Current. Saw that very strong bounce Wednesday, and just followed that up with smaller upside Thursday. Still a solid move, but not showing the pop we saw Wednesday. Also closing further back from the intraday high, so we do watch for NKTR to test this move soon.
NLST 02/18 ABCD Up 4.18 -0.19 4.18 6.45 686K 3.5M 3.87
Current. Turned lower Thursday, but left it on as it managed to hold easily over the 50 day EMA (4.06) support. Will give it a chance to pause under the February high at 4.50ish for now, and see if it can put a move together next week to take out that resistance.
PCLN 02/24 Flag 233.12 -2.70 226.14 247.22 1.6M 1.2M 231.91
Current. Short gap lower to this doji that bounced lightly at the 10 day EMA (230.08). Not a bad pullback, but is rather quick after that last one. Still, now we just see if it can take the bounce back up.
PCLN 02/11 Dbl btm 233.12 -2.70 210.99 229.91 1.6M 13M 231.91
Current.
PDCO 02/13 Test 50 30.57 -0.22 29.57 33.89 1M 1.3M 29.81
Current. Pretty normal testing with this one as it slid lower Thursday for the second day down. Volume is hanging in around average, and PDCO looks set to just continue fading to the 10 day EMA (30.21). Nothing wrong with that action, and will see if it can finish testing this week to show the bounce early next week.
PDS 03/02 ABCD Up 8.33 0.00 8.38 9.98 1.4M 2M 7.79
Current. Lateral step Thursday with this doji, and finished off the intraday high. Pretty common move Thursday, so not too worried as it pauses under the mid February peak. Can see how the week wraps up, and then see if it starts to bounce again Monday.
PLXS 02/02 Test BO 35.91 +0.15 32.22 39.94 77K 425K 34.12
Current. Lower intraday and then bounced right back to finish with a doji. Holding up over the mid February high just as it needs to, so letting it continue along for now. Just watching Friday to see if the news affects it or if it continues along as is.
PNRA 01/26 Test BO 74.04 -0.05 71.97 79.50 182K 650K 70.77
Current. Stepped horizontally with this low volume doji over the 10 day EMA (73.42). Not backing down as it is butted up against the top of the January and February range and we see if it can break through. Good news Friday could bounce this one, but will just have to wait and see what we get.
QID 03/03 ABCD Up 18.69 -0.12 18.97 21.55 12M 19M 18.48
Buy Not Issued. Stepped to this doji with lower volume to just continue the lateral action. Nothing wrong as it holds the line, and we are just waiting to see which way thins will swing. Key to watch Friday with the jobs report, and ready to move in if this one starts to rise.
RIMM 02/17 Flag 69.98 -0.85 70.98 88.91 9.8M 22M 67.44
Current. Edged lower but still holding near the 200 day SMA (69.96) at the close. Important level as RIMM tries to hold against the February highs at 71-72ish. Looking for strength with a hold at this key support level Friday, and then we give RIMM more time to try for the upside move.
RIMM 01/13 Pennant 69.98 -0.85 66.11 79.94 9.8M 22M 67.48
Current.
RMD 02/10 Test BO 59.09 -0.17 55.08 61.89 341K 6.2M 56.44
Current. Volume held below average as RMD squeaked lower Thursday. More than anything, just working laterally after bouncing Monday and Tuesday. It looks like it could have a couple more days of lateral action left, or downside to tap back at the 10 day EMA (57.93) and bounce. Will see how it wraps up the week and where that leaves it to start things Monday.
SAPE 02/27 Flag 9.38 +0.02 9.12 10.95 1.4M 1.5M 8.77
Bounced off the intraday low, but definitely slowing down with this doji that just peeked to the upside Thursday. Does look ready for testing after the recent bouncing, and will look to see where it holds. If it can make a nice fade towards the 10 day EMA (9.04) and hold, we have ourselves a nice entry.
SDS 03/03 ABCD Up 33.82 -0.15 34.23 37.78 22M 40M 33.46
Buy Not Hit. Faded just slightly Thursday with this low volume doji. Has held for the third day at this level, and does look like it could bounce now. Will have to wait for Friday to see how the jobs report turns out, as that could have a big impact on this one. We will see.
SHLD 02/19 Flag 98.33 +2.25 95.61 104.89 921K 2.4M 94.54
Current. Nothing changed with volume, but SHLD bounced nicely higher Thursday. Solid action over the light 10 day EMA (95.93) support, and this may be the start of a new leg higher. Just have to see if it can add to this move Friday.
SHLD 02/04 Test 50 98.33 +2.25 91.31 104.89 921K 2.4M 94.54
Current.
SINA 02/16 Dbl btm 39.40 +1.91 38.06 43.85 2.9M 1.4M 35.88
Current. Did not meet analyst expectations for earnings and gapped lower, but did manage to bounce strongly up from the 200 day SMA (36.41). Interesting move, but have to see if it can be sustained Friday. Also has to move through the 50 day EMA (39.38), so this is one to watch closely Friday. If it continues we let it be, but if it starts turning back down will have to watch and see if it can stick to any support.
SJT 02/09 ABCD Up 20.76 -0.32 21.33 24.94 172K 350K 20.23
Current. Showed a gravestone doji Wednesday, and now a gap up and slid back into the finish. Not exactly a great 1-2 punch, and SJT might have to take another test at the 50 day EMA (20.32). If it does get back to there, we see if it can bounce and make another run back to that key 22ish level.
SOA 01/28 Rev HS 14.40 +0.03 14.16 17.94 1.3M 1.8M 13.62
Current. Nothing wrong with this move as SOA held over the 10 day EMA (14.24) with the doji. Nice testing over the past few sessions, and now we just give SOA a chance to take the bounce.
SSYS 02/27 Flag 26.82 +0.05 27.59 31.94 55K 300K 25.78
Current. Another one that is testing solidly. Showed a very tight, low volume doji to hold over the 18 day EMA (26.31). Has already shown that it can bounce up from this support so we will see if it can do the same Friday or early next week.
TEN 02/22 Cup hdl 22.06 +0.52 20.20 23.98 749K 1.8M 19.92
Current. Bounced Wednesday, and just kept moving higher Thursday. Not a huge move, but held onto all the gain and is showing life at this level. Will be interesting to see if it can continue running to finish the week, but as it is doing everything right we can just wait and see.
TEVA 01/29 Test 50 61.17 +0.96 57.59 64.32 4.3M 6M 58.73
Current. Sold back Wednesday, but managed to hold light support and TEVA gapped right back up Thursday. Really just looks to be continuing along the uptrend so not going to mess with this one, but will watch it and see if the jobs report does anything.
TEX 02/11 Rolling 21.96 +0.63 19.34 23.77 2.4M 2.8M 20.03
Current. Very strong Wednesday bounce, and followed that up Thursday with another solid move higher. Volume did shrink back to average, but TEX is moving solidly. Will see if it can finish the week with more upside, and see where that leaves it for the start of next week.
TSL 02/13 Test 50 23.34 +0.04 25.85 29.91 1.6M 4M 23.89
Exited. Tried to bounce again, but could not stick the landing over the 50 day EMA (23.69) and closed back with a doji. Not what we want to see, so went ahead and shut this one down.
VLTR 02/27 Flag 23.79 +0.05 22.11 26.42 168K 400K 22.04
Lower intraday and then bounced back to finish flat with the doji. Holding nicely at this level after that big Monday bounce, and just waiting now for a fade back. With a fade we can see if VLTR holds 23ish support, or better, dips back closer to 22 before bouncing. That would provide a better entry so we will see if it gives us anything Friday or early next week.
WBSN 01/21 DB hdl 22.65 +0.16 19.36 23.44 400K 450K 21.54
Current. Volume fell back to average, but WBSN continued its slow and steady climb. Like we have said, it will have to test at some point so the Friday jobs report could spark that. Then again, WBSN has been largely indifferent to the rest of the market so we could just see it continue plodding higher. This is one where we just have to wait and see.
WCRX 03/02 Cup 27.05 +0.02 27.61 31.94 629K 1.8M 25.68
Buy Not Issued. Still not moving in with this one as it just stepped laterally to a doji. Holding the 50 day EMA (26.46) support nicely, though, so we can give it more time. Just need to see that it can start to bounce from this support and stick the move and then we pick it up.
XTEX 01/29 Pennant 10.85 -0.20 10.01 11.95 451K 525K 9.74
Current. Showed a gravestone doji Tuesday and Wednesday, so acting normally as it faded lower Thursday. Nice bounce off the intraday low, however, and a nice test so far. Giving it a chance to continue fading Friday, and will see how it reacts when it gets to the 10 day EMA (10.21).
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
BUCY 02/22 BearRev 64.48 +0.01 61.15 56.25 2.4M 4M 62.11
Current. Bounced off the intraday low to finish flat with the doji. Still holding under a resistance level so we left it on, but do have to keep a close eye on it. Will see if jobs on Friday could send things lower and in that case we let BUCY ride. If this one starts to bounce at all, will have to look at shutting it down.
BWLD 03/01 BearFla 43.36 -0.24 43.17 40.04 358K 500K 44.31
Buy Not Issued. Tapped up at the 50 day EMA (43.78) and then reversed back to close slightly negative. A very nice bear flag set up still, and just waiting for the fall. Will see if we get that Friday or early next week to give us the buy.
CAT 03/03 ABCD Dw 58.45 -0.12 58.25 54.36 6.2M 12M 59.11
Buy Not Issued. Lower intraday to flirt with the buy point, but it bounced late with the market so we held off. Like this setup, but watching it Friday to see if the move lower can actually stick. If it does, this one is still at a nice level to buy.
CUB 03/02 BearFla 35.22 +0.43 34.41 31.35 100K 200K 35.44
Buy Not Hit. Popped higher Thursday to close over the 18 day EMA (34.96) so this was not one we wanted to move in on. Still in the bear flag set up, but do have to see what it does now that it has cleared through a resistance level. If it can reverse right back down, great. If not, it may have a ways to climb before stalling again.
KOL 03/03 ABCD Dw 36.58 -0.34 36.64 32.55 359K 900K 37.62
Buy Not Issued. Short gap up and then faded, but it bounced off the lows late in the day so we held off. Not much of a bounce, but playing it cautious right now; if it continues showing weakness Friday, though, it can still be bought.
MON 02/04 BearFla 74.15 +0.90 75.56 70.15 7.6M 6M 72.11
Current. Continued to rebound, but again finished off the intraday high after hitting resistance with the 18 day EMA (74.64) and mid February lows. Decided to let the rest run and see if they get shoved back down Friday. If they do we let this one run, but if MON continues to rebound, we have to look at shutting the rest down.
PFWD 02/19 BearFla 12.25 +0.15 11.78 10.04 622K 650K 12.21
Buy Not Issued. Still a setup for the downside as it holds under the 18 day EMA (12.25), but not buying Thursday with this bounce higher. Key level now to stall so will be looking for that Friday. If it can, then we can see if we get the downside early next week to show what we want for a buy.
RL 02/17 BearFla 80.99 +0.64 79.44 75.05 1.5M 1.4M 80.98
Buy Not Issued. Jumped higher on the good retail news (same store sales) even though it is not a store (apparel maker). Faded off the intraday high, but still dropping this one in favor of other setups that look better.
SPY 03/02 ABCD Dw 112.64 +0.34 111.84 108.77 135M 195M 112.85
Buy Not Hit. Bounced off the intraday low to finish with a doji. Third day stalling at this level after forming the ABCD Dw pattern, and does look like it could turn down. Friday could be an important day for that with jobs, but will have to see how that actually pans out.
STLD 03/03 ABCD Dw 17.18 +0.15 16.87 14.78 5.6M 8.5M 17.63
Buy Not Hit. Mild upside, but still like the action as it closed down from the much better intraday levels. Second day of finishing off the high and looks ready to make the fall. Just has to show it and then we can look at a buy.
TS 03/02 BearFla 43.75 -0.11 43.44 39.88 3.8M 2.2M 44.54
Buy Not Hit. Gapped to that doji Wednesday, and then a gap and rollover Thursday. Still hanging near the 50 day EMA (43.69), but will wait for TS to give it up before we jump in. Going to watch to see if it makes the fall out of the bear flag pattern Friday.
End part 2 of 3
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