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us stock market, trade stock
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
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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
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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 225.50 +0.66 138.55 149.91 14M 23M 217.38
Current. Lower volume as AAPL showed a slow, small drift higher into the close. Slowing towards the end of the week now, and does look tired after a decent week higher. Still looks solid overall, but a test now does look likely. Will see if it steps laterally into the weekend or if it starts the fade that does seem to be looming.
AAPL 04/15 Test 20 225.50 +0.66 119.69 132.77 14M 25M 217.38
Current.
AET 02/18 BullRev 32.69 +1.04 29.94 34.91 6.8M 8.2M 30.92
Current. Caught a big and soared higher Thursday with much stronger volume. Held the entire move into the close, but now we see if it can continue to start working through this resistance range started with the mid January peak (33.10). Looks ready to do that at this point.
AMED 01/30 ABCD Up 58.00 -0.28 57.05 67.95 761K 1.5M 57.44
Current. Left this one as it reached lower through the stop point but then rebounded to finish with a doji. Losing momentum, though, with this three top pattern, and showing a lower volume peak this month. MACD is making lower highs also so there is less than appealing activity for AMED. Can afford to leave it though and will see if it can stick in this range and try to bounce.
ANN 02/05 Flag 19.45 +0.42 15.12 17.65 2.6M 3.2M 17.92
Current. Stronger volume as ANN went ahead and took a solid step forward. Really looks quite good with this step up after the gentle drift higher earlier in the week. Held the entire move into the close, and we just let this one play to see how it ends the week.
ARO 03/04 PreSplt 27.05 +0.63 25.21 28.45 4.3M 2.6M 25.32
Higher again as volume was up above average. This one has shown impressive gains this week, and now we see if that continues into the weekend. If it does, great. If not, we see how it starts to test.
ASH 01/27 Asc Tri 51.83 +0.31 42.69 49.89 1.2M 1.5M 48.44
Current. Lower intraday, but bounced right back up off the 10 day EMA (50.17) to finish positive. Certainly not a big move, but just the same kind of action as the rest of the week with the soft push higher. Still, it has made a nice looking run up so far from early February, so we can let it pause at this light support, and see if it gets started again after a couple days of resting.
ATI 02/18 ABCD Up 49.60 +0.14 45.34 51.91 2.1M 3M 47.31
Current. Opened lower and then bounced to finish basically flat on the session. Still looks ready for the test back, but is showing good signs over the 10 day EMA (47.92) so far. Can let this one slid back softly, and will see if it can stick and bounce up with this light level of support.
BWA 02/24 Asc Bse 36.89 +0.18 38.69 44.88 2.8M 1.8M 36.31
Current. Was ready to pull the trigger and put it out of its misery as it reached lower, but waited to see if the bid came back. It certainly did and BWA rebounded furiously on volume. That shows buyers at that level, the 50 day EMA (36.27), jumping in. Looks like it might be read to rally now, but we will see.
CEDC 03/04 Asc Tri 36.81 +0.30 34.05 39.94 642K 1.1M 34.78
Current. Sixth session higher, though is slowing after the big Tuesday/Wednesday jump. Okay to let it pause now that it has cleared the October peak, and will see if it tests any. A few days of resting would be nice, and then we see id CEDC can take off from the rising 10 day EMA (34.70) again.
CGA 03/04 ABCD Up 15.40 -0.10 15.54 17.98 375K 875K 14.74
Current. Small step back with the doji, but like the action with the intraday reach to the 18 day EMA (14.99) that bounced right back up. This is better action after the finish off the high Tuesday and CGA does look ready to stick to this level. We can let it pause for a session or two, and then see if it starts legging right back up.
CMG 01/26 Test BO 112.96 +0.64 98.45 110.00 235K 550K 107.84
Current. Quiet bump higher Thursday as the below average trade continued to fade back. This one is really cooling down now after it closed back from the intraday high several days this week. Solid overall, but at this point a few sessions down could be what CMG needs to recharge.
CMI 02/24 Flag 59.44 -0.79 56.82 64.85 2.4M 3M 57.69
Current. Down again, but this action is better with the lower volume and a bounce up from the intraday low. Still have to keep an eye on it after the higher volume downside Wednesday, but if CMI can stick over the 18 day EMA (57.95) and start to rebound it is doing just fine.
CNMD 02/04 ABCD Up 23.79 +0.08 22.89 26.45 261K 265K 22.78
Very slight upside even though volume surged to well above average. Could not do much as it got pulled both ways but for now it looks decent continuing this steady climb we have seen so far in March. Do want to start paying attention though if it turns back down as it has bumped into the December peak (23.69) now.
CRR 03/09 Rev HS 64.32 -0.85 65.03 71.94 173K 400K 61.91
Buy Not Issued. Not buying with this short step back, but still like the play. Just a quick test to the 50 day EMA (64.24) and CRR does look primed to bounce higher. Ready to buy if it takes a solid enough bounce.
CTCM 03/06 Flag 17.18 +0.02 16.76 19.94 224K 650K 15.76
Current. Showed a nice bounce Wednesday, but stalled out Thursday with the lower volume move. Not what we want to see as CTCM is holding at the February high (17.00) and if it cannot cleanly break through now it may go back for another test. Will see how it finishes up the weekend and go from there.
CY 02/27 Flag 12.37 0.00 11.98 14.22 1.9M 4.5M 11.49
Current. Side step, but a nice intraday test to the 10 day EMA (12.14) that bounced to finish with a doji. Holding decently over a light support level as it drifts higher, though it is still stuck under that February high. Will see if another decent push higher can break through that level.
DNDN 01/21 ABCD Up 36.01 +0.02 29.54 33.48 2.4M 3M 33.89
Current. Gap and rollover Wednesday, but held its ground Thursday as it reached lower intraday and then bounced to a doji. Would have liked to have gotten a little more out of this one after that nice Tuesday bounce, but a test back to the 10 day EMA (34.70) will do the job. Will see if it can bounce there.
EAT 02/08 Test BO 20.00 +0.55 16.81 19.91 2.1M 2.8M 18.88
Current. Average volume as EAT busted higher to break through that Monday close (19.37). This is good to see after the sketchy Tuesday action as EAT does look hungry for more. Can see how it continues Friday as it looks ready for more upside after this move.
EJ 03/06 Flag 20.52 -0.26 20.41 23.65 1.1M 1.2M 18.98
Current. Nice intraday reach lower that bounced right back up to finish with a doji. This was a step down as it opened lower, but EJ is showing resilience under that Monday close (20.73) so we are giving it more time to start bouncing up through that level.
F 02/23 Asc Tri 12.91 +0.09 11.77 14.22 59M 95M 12.16
Current. Modest upside on the below average volume, but really just continuing to test. There is more room to slide down to the 10 day EMA (12.59) if needed, so will see how F reacts at that support.
FIRE 02/22 Flag 25.39 -0.25 24.94 28.00 284K 400K 23.89
Current. Soft fade lower with this doji, but already showing it can bounce with the 18 day EMA (25.10). Fourth day of testing, and does look primed for the bounce. Just have to wait and see if it starts higher Friday, or if it waits until next week to get something started.
FNSR 02/13 DB hdl 13.56 -0.10 11.75 13.97 851K 1.2M 12.54
Current. Stepped laterally with this very tight doji to simply hold over the 10 day EMA (13.13). Nothing new after this action as we just continue to wait things out. FNSR is still in the uptrend, but letting it drift along as it has for the past week to see if it can start to really get moving again.
GLW 03/09 Cup 18.35 -0.13 18.52 21.38 12M 18M 17.48
Current. Soft fade back, but did show a nice bounce off the intraday low at the 50 day EMA (18.15). Has worked mostly laterally this week over this support, and now letting it pause and test shortly before trying to rally. Just waiting for it to make a move now.
GMCR 02/01 Test BO 92.36 +0.19 86.12 99.88 592K 2M 86.43
Current. Down intraday but bounced back with lower trade to finish flat. GMCR has finished back from the intraday high several days now this week so it may be tired. Holding the trend though, so can let it pause at this level and see if it gets bounced by the rising 10 day EMA (89.22).
GOOG 03/09 Flag 581.14 +4.69 569.04 609.45 4.2M 4M 558.91
Current. Small step up with volume lower, but still above average. Still like this play, but it may not immediately continue up like we had wanted after volume faded and GOOG closed back from the high. Nothing wrong with letting this one play, though, so we leave it to see how it wraps up the weekend.
HK 03/09 Rolling 21.71 +0.15 21.65 25.95 6M 7M 20.28
Entered today. Finished back from the intraday high, but held a gain into the close so we went ahead and picked it up. Liking this higher volume upside as HK starts to roll higher, and now we let the play go to work for us.
HOLX 02/04 Test BO 19.28 +1.73 16.51 19.91 24M 5M 18.21
Current. Huge volume on this huge Thursday jump higher. This one blasted higher on rumors Phillips could be interested in the company and this move brought it close to our initial target. A further push Friday and we might be able to take gain, but have to see if this jump can stick first.
HTCH 03/10 Flag 7.64 -0.01 7.81 9.94 130K 500K 7.04
Buy Not Hit. Stepped laterally with very low volume along the 50 day EMA (7.50). Third day of testing after that Monday bounce, and really looking good. Have to just give it time to make the bounce that it is well positioned to take.
HUM 02/05 ABCD Up 49.00 +0.68 47.69 54.55 1.5M 3.5M 45.44
Current. Dare I saw it? Signs of life? Not a bad move higher Thursday and held all the gain into the close with this consistent, below average volume. Would love to see a run to 52.50 real quick to pump up those options, but will see what it gives us Friday.
ILMN 02/10 ABCD Up 40.30 +0.86 36.53 40.97 3.5M 4M 37.96
Current. After testing along towards the 10 day EMA (38.69) last week, ILMN has now bounced for the third session from that support. Doing everything it needs to and is turning higher with stronger, above average trade. This is one that we just let run and will see how it handles the January peak (40.51). If it can take that level out and press a little farther we can take some gain.
ISRG 01/28 Test BO 357.80 +0.36 335.64 374.75 239K 700K 342.44
Current. Quiet day with the lateral step to a doji. Volume held below average and ISRG just continued to work horizontally along the 10 day EMA (354.95). This one is ready to bounce higher, but we have to wait on it until it shows it.
JAZZ 03/10 Flag 11.46 -0.25 11.81 13.97 389K 575K 10.92
Buy Not Hit. Tested early in the week, bounced Wednesday, but fell right back down Thursday. Not showing enough for the buy yet, so we continue to watch as it plays out this week. Can see if it will tap back at the 10 day EMA (11.08) again, and then see if that bounce can break over the March peak (11.77) to give us a buy.
JOYG 02/13 Test 20 57.44 +0.13 49.05 55.00 2.8M 4M 54.28
Current. Down intraday but rebounded nicely to close flat. Nothing wrong with this action, but with volume slipping JOYG does look like it could make a mild test. Like many others, we will see how a fade holds up at the 10 day EMA (54.97) and then go from there.
KSU 02/25 Cup 36.00 +0.01 35.28 39.94 1.7M 1.4M 34.51
Current. Volume was lower, but still above average as KSU stepped laterally Thursday. Not much going on with this one but it is still locked in the gentle uptrend started mid February. Looks ok to let it continue, and we can see if it starts to make the break next week.
MDZ 02/25 Cup hdl 8.39 +0.04 8.44 10.35 1.1M 900K 7.85
Buy Not Issued. Showed a nice turn higher Thursday with volume well up above average. Signs of life after working laterally for a month now, but still has further to go to hit our buy. Do not normally buy Friday, but if MDZ does show enough strength with continued gains we will look closely at it.
MFW 03/06 ABCD Up 34.31 +0.09 35.65 42.38 59K 165K 33.69
Buy Not Hit. Still leaving this one on, but it is looking less promising still as it stalls under the 50 day EMA (34.52). Will see if it can show any life Friday to break through that level, as we are not buying until it can do so.
MON 03/09 Rolling 71.61 +0.50 72.38 83.88 6.2M 8M 69.88
Buy Not Hit. Held decently at the 70 support and bounced, but still have to wait this one out. After all the weakness we have see out of it, will watch it a little longer to make sure it does not turn back down. Seeing what it can manage Friday.
MR 02/02 Test 50 38.11 -0.06 36.94 41.95 731K 1.4M 37.11
Current. Yet another lateral step with this doji along the 10 day EMA (38.07). Nothing new with this one as it holds the light support after gapping down last week. just waiting for the bounce, and looking for it to do so from this level.
MRVL 03/06 Asc Bse 20.51 -0.13 20.63 24.88 9.5M 18M 19.19
Buy Not Issued. Could not continue the Wednesday bounce so we held off the buy. Still, not a wasted session as it tested to the 10 day EMA (20.21) with the low and bounced right back up. Going to see how it works along this level with the February highs, and see if it can start to break through this to give us the buy.
NETL 02/05 Test BO 55.96 +0.16 50.68 56.94 512K 750K 54.44
Current. Tested to the 18 day EMA (54.41) intraday and then bounced back up to finish with a doji. This is better action than we have see the past couple of sessions with the high volume downside Tuesday, and then the Wednesday gravestone doji. Giving it longer to hold this support level and then see if it can really start to rebound.
NFLX 02/05 Test BO 71.19 -0.09 61.42 69.97 1.2M 2.2M 66.65
Current. Side stepped with a doji, but that is not bad to see after the solid upside of the week. Can let NFLX pause over the February peak (69.70) that it broke past with the Wednesday bounce, and then see if it gets moving again from there.
NKTR 01/29 Test BO 15.46 +0.10 11.88 13.97 729K 1M 14.24
Current. Lower intraday but reversed to close modestly higher. This one has still not been able to make any substantial moves higher this week, but it has done a decent job with the steady gains. Can still let it pause, and if it bounces up with the 10 day EMA (14.48), great.
NLST 02/18 ABCD Up 4.54 -0.03 4.18 6.45 885K 3.5M 3.98
Current. Up at first and then rolled back to finish with a gravestone doji. This one had looked great as it broke higher Tuesday from a three day test, but then it could not add to the move Wednesday or today. May have to let it go back and reload at the 50 day EMA (4.13) and then see if it can start to run for real.
PCLN 02/24 Flag 242.21 +1.22 226.14 247.22 624K 1.2M 231.91
Current. Slightly down intraday and then bounced back to finish slightly higher. Nothing more than a low volume move to continue the lateral action at the early March high (241.34). Will see if a bounce in the next session or two can start the break higher.
PCLN 02/11 Dbl btm 242.21 +1.22 210.99 229.91 624K 13M 231.91
Current.
PDCO 03/08 Flag 30.49 +0.29 30.84 35.94 964K 1.3M 29.96
Buy Not Hit. After showing pretty solid testing, PDCO has bounced at the 18 day EMA (30.13). Positive action for the play, though we do have to see if this lower volume move can continue. If it can keep running higher now, preferably with stronger trade, we can look at adding positions.
PDCO 02/13 Test 50 30.49 +0.29 29.57 33.89 964K 1.3M 29.81
Current.
PDS 03/02 ABCD Up 8.37 -0.09 8.38 9.98 654K 2M 7.94
Current. Very gentle fade back to hold the 10 day EMA (8.33) with the doji. Lower volume and really a nice looking test over the past four sessions. Just seeing now if PDS takes the bounce to start rallying.
PLXS 02/02 Test BO 37.45 -0.04 32.22 39.94 211K 425K 35.54
Current. Pretty boring day with this one also as it barely budged all day. Trade fell below average and it just looks like for now PLXS will shuffle laterally. Ok to let it do that, but then would like to see a bounce higher from the rising 10 day EMA (36.40).
PNRA 01/26 Test BO 79.27 +2.00 71.97 79.50 635K 650K 75.44
Current. Running toward our initial target with the very solid Thursday bounce. Will see how strong it is when it gets there tomorrow and you have to decide whether you want to bank gain or not. It has been showing a lot of upside volume this week, so we like it chances Friday.
RIMM 02/17 Flag 75.93 +0.89 70.98 88.91 15M 22M 72.44
Current. More upside for RIMM with volume creeping to just over average. It did close back modestly off the intraday high, but still a nice day of gains to continue a positive week of action. Do have to watch for a test soon as it has broken through a key range, but looks healthy moving into Friday.
RIMM 01/13 Pennant 75.93 +0.89 66.11 79.94 15M 22M 72.44
Current.
RMBS 03/10 Flag 22.61 -0.20 23.04 26.48 981K 4.2M 21.43
Buy Not Hit. Bounced Wednesday but turned back down to the 18 day EMA (22.38) Thursday. Still like this flag pattern, just going to give it time to make a real start higher. That is what we want to see before jumping on this one.
RMD 02/10 Test BO 60.64 +0.46 55.08 61.89 575K 6.2M 57.94
Current. This one bounced Wednesday after stepping laterally for five sessions, and just continued the upside Thursday. This was not a very big move as volume dropped back to average, but RMD is still heading in the right direction. Thus, we leave it and see how it ends the week, and will see where that leaves things moving into Monday.
SAPE 02/27 Flag 9.47 -0.07 9.12 10.95 637K 1.5M 9.22
Really nice testing. Slightly lower at the finish, but bounced off the intraday low to hold the 10 day EMA (9.37) with the doji. Will see how it reacts at this light support level as it does look like it is preparing to bounce again. Will see if it shows that Friday.
SHLD 02/19 Flag 101.62 -1.66 95.61 104.89 876K 2.4M 98.82
Current. Turned lower Thursday, but not a bad day as it tapped the 10 day EMA (99.68) with the intraday low and then bounced back lightly. Still looks like it could test further, but that may just mean more lateral action over the 10 day. Can see if that support holds to the end of the week, and then see if it bounces SHLD early next week.
SHLD 02/04 Test 50 101.62 -1.66 91.31 104.89 876K 2.4M 98.82
Current.
SINA 02/16 Dbl btm 41.13 -0.25 38.06 43.85 914K 1.4M 39.43
Current. Very small step down Thursday as SINA bounced back up from the intraday low. Still testing back after that Monday bounce, and looks very good as it does so. Will let it fade towards the 50 day EMA (39.72) and see if it bounces at or above that support.
SJT 02/09 ABCD Up 22.17 -0.01 21.33 24.94 124K 350K 21.08
Current. Gapped up and then slid back to finish flat. Not incredibly volatile with the lower volume, but really not what you want to see at these prior peaks at 22ish. SJT could really use a test now, but will have to see how it reacts at near support from the 10 day EMA (21.50) after this sketchy action.
SOA 01/28 Rev HS 15.14 +0.08 14.16 17.94 891K 1.8M 14.18
Current. Tested down to the 18 day EMA (14.57) intraday and then bounced back to finish modestly higher on the session. After two prior days of testing, this is what we want out of SOA, and can see if it turns things back higher now.
SSYS 02/27 Flag 28.44 +0.02 27.59 31.94 267K 300K 26.18
Current. Tried to continue higher after that Wednesday bounce, but peeled back from the intraday high to finish with a doji. This is sluggish action under that February peak (29.00) and SSYS needs to shape up quick. We will let it take this short pause, but want to see that next upside really challenge the prior high.
SWN 03/09 Rolling 44.38 -0.56 44.55 51.68 4M 5.2M 41.68
Current. Bounced for two sessions very strongly and now just pausing Thursday with the doji near the 50 day EMA (44.41). Like the stronger volume gains and lower volume pause, so just watching SWN play out for now. Going to give this rolling play more time, and will see how it ends the week.
SYK 03/04 Cup hdl 55.73 +0.44 54.97 62.22 2.4M 2.4M 53.78
Current. Volume clicked to above average as SYK jumped Thursday. Not big upside, but heading in the right direction now with better volume behind the move. Thus, we let it continue and see if it can carry forward to near resistance with the January high (56.96).
TEN 02/22 Cup hdl 21.68 0.00 20.20 23.98 708K 1.8M 19.92
Current. Down mid day, but bounced right back up to finish at the 10 day EMA (21.42) with the doji. Very solid action after testing back all week, and now we see if TEN takes the bounce as it is positioned to do.
TEVA 01/29 Test 50 61.65 +0.71 57.59 64.32 3.7M 6M 59.97
Current. Short upside, but with the below average volume TEVA is not quite ready to take out that March high (61.66) from last week. Will let it step to the side for another session or two, and then maybe it can ride the 10 day EMA (60.82) higher through this light resistance.
TEX 02/11 Rolling 22.62 +0.31 19.34 23.77 2.2M 2.8M 21.87
Current. Lower intraday but showing strength over the 10 day EMA (21.73) as it bounced higher from there. After three sessions of testing, TEX looks ready to start back up so we are letting it do its thing Friday.
TJX 03/08 Flag 41.77 -0.10 41.82 46.95 4M 5.5M 40.36
Current. Up and down intraday before settling flat with the doji. Volume was significantly higher on the day, though that was not enough to help TJX stick gains as it holds at the February peak (41.74). There is an upside bias still, so we will leave it on and see if more volume Friday helps spark this one to the upside.
UPL 03/08 Rolling 48.27 +0.30 47.12 53.94 2.3M 2M 45.54
Current. Did close higher, but too bad it gave up most of the gain, it was roaring. Overall this one is still in good shape but getting over this 48 to 49 level will be important. Watching how it handles things heading into the weekend.
VLTR 02/27 Flag 23.28 -0.34 22.11 26.42 268K 400K 22.62
This one faded again and now looks like it will continue down to hold the 18 day EMA (22.81) support. It has already bounced with that support level late February, so it looks good to do the same again. Just giving it a chance to do that now.
WBSN 01/21 DB hdl 23.62 +0.24 19.36 23.44 237K 450K 21.94
Current. Paused for two sessions but then started back higher Thursday. This one is still trying to move back to the upside to continue the unrelenting February run higher, but with volume still fading it does not look like it can sustain that. Still think this one is ready to test, and still looking toward the 10 day EMA (22.76) for support.
WCRX 03/02 Cup 26.61 -0.46 27.61 31.94 1.6M 1.8M 25.68
Buy Not Issued. Not buying WCRX as it stepped back down Thursday, but it did show a nice bounce off the intraday low to hold the 50 day EMA (26.59). Just going to continue watching this one to see if it can show strength at this support Friday. If it can do that, we will look for a buy with more upside next week.
WDC 03/06 Rolling 38.86 +0.79 39.78 45.95 15M 6M 37.93
Buy Not Issued. Sold off as an analyst downgraded WDC, but it was helped back with another analyst recommending a buy. Buyers really overwhelmed the sellers and WDC finished solidly positive on the day. Could be a key reversal for the play, and will see if the gains can continue Friday to keep things shaping up.
XTEX 01/29 Pennant 10.96 +0.23 10.01 11.95 193K 525K 10.08
Current. Bounced lightly back up off the 10 day EMA (10.61), though volume did continue to decline with this upside. Not going to knock it though, as it is showing life over light support. Just have to watch it early next week, as it does have resistance with the prior March high (11.05) to overcome.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ATHN 03/08 BearFla 38.20 +0.30 38.82 35.31 440K 1M 39.77
Buy Not Issued. Did not move into this one as it bounced back higher Thursday. Still looking at the play, though, as volume did decline, and ATHN is under serious resistance. Will watch how it carries on up towards prior high and 200 day SMA (39.25) and see how it stalls. Really any reversal now and we can get an entry, but if it reaches slightly farther before folding it will give us the better buy.
BTU 03/09 ABCD Dw 48.54 +0.01 47.44 42.67 4.3M 6.2M 49.65
Buy Not Hit. Keeping it on the table, but it is finding intraday support with that key November level (47.26 open). Also tapping the 10 day EMA (47.83) and bouncing off the low so there is work to be done. Will give the downside ABCD pattern a chance to work, though.
BUCY 02/22 BearRev 64.95 -0.91 61.15 56.25 3.4M 4M 62.11
Current. Gapped lower Thursday after matching that January high earlier in the week. Also have a lower MACD peak and higher volume on negative sessions the past two days. Still looks negative so giving it more time to fold.
CAT 03/03 ABCD Dw 58.90 +0.12 57.74 54.36 6.2M 12M 59.77
Buy Not Issued. Lower intraday and then bounced to finish flat with the doji, and continue holding over the 10 day EMA (58.46). Not great action for the downside, but left it in the event sellers emerge with the SP500 sitting just below the prior peak.
DE 03/10 BearRev 57.73 -0.76 57.62 53.31 7.5M 5M 59.92
Buy Not Issued. Sold through the range of support intraday, but then rebounded on strong support to recover it. Not exactly great for the downside play, but we are leaving it on to see if it holds or folds.
DUG 03/10 BearRev 12.04 +0.03 12.08 13.94 2.1M 3.4M 11.76
Buy Not Issued. Stepped laterally with a very tight doji Thursday. Flirting with the buy as oil flirts with the top of its range, but have to wait for it to actually make that move before jumping in.
KOL 03/08 ABCD Dw 38.10 +0.03 37.57 34.04 345K 800K 38.61
Buy Not Issued. Gap lower but then bounced lightly back to finish flat on the day. Not the kind of move you want to buy with, but did show lower volume upside as it moved to the prior March high and stalled. Can still get the buy with this one, but this is where it has to start breaking lower from.
MON 02/04 BearFla 71.61 +0.50 75.56 70.15 6.2M 6M 72.11
Current. This one did hold the 70ish support and bounce modestly, but left it with the lower volume. Also kept in mind the weakness it has shown of late so we gave it one extra chance. If it continues higher Friday, take the rest of the gain, but if it starts to turn back down we can consider hanging on longer. Will have to see what kind of strength it shows.
STLD 03/03 ABCD Dw 17.77 -0.11 17.65 15.11 4.3M 8.5M 18.31
Current. Still in the downside ABCD pattern, but found support at the 10 day EMA (17.36) as it opened there and then bounced. Light trade with the upside, though, so leaving it to see if the downside action takes back over.
VSEA 03/04 ABCD Dw 30.34 -0.66 30.40 27.84 1.3M 825K 31.84
Entered today. Up at first, but then wiped lower with volume well above average. This is what we wanted to see and it was good enough for the buy. Now we just see how it continues the fall Friday.
X 03/09 ABCD Dw 60.42 +0.46 59.53 52.55 13M 22M 61.84
Buy Not Issued. Gapped lower but found mild support over the 10 day EMA (57.89) and bounced. Still like this downside ABCD pattern though after this low volume upside, and can give it more time to see if it stalls out. Ready to pick it up if it stumbles.
End part 2 of 3
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