Posts by Rod David
This morning”s 1970 bias-down signal
This morning”s 1970 bias-down signal has seemed intent upon supporting pre-open price action. Post-open strength could test 1979-1981 before suggesting the bias-down signal won”t be triggered anyway by 10:15. Meanwhile, initial weakness back under 1969.50 and 1966.25 would more likely resume last night”s opening plunge, attracted further back down toward, to, or through Thursday”s 1944 low… Details and other markets coverage were discussed during the pre-market Tour recorded here:
https://roddavid10.mitel-nhwc.com/join/vsxvkyb
The First Trade… Now, THAT’S a last-minute plunge.
Proper context can start the day with a solid win and make all the difference.
CHARTROOM LINK(s)
o Win XP-Friendly entry
o non-xp friendly (ilinc)
(pre-open Market Tour begins at 8:55 ET)
Through the prior close…
Friday”s gap down was eventually retraced to fill the gap back to Thursday”s 1986.00 close. But Thursday”s late 42-point surge (which had been preceded by a 42-point plunge) never resumed. Thursday afternoon”s sellers had gained traction, but their influence on Friday”s session was limited to preventing the recovery from extending. Ranging sideways all day ended by surging back up to and through 1986.00 into and out of the cash session close.
Overnight action”s new info…
Sunday night”s open immediately plunged about 30 points to 1959.25. Flat-to-higher ranging since then — through China”s trading and through Europe”s opens — firmed back up to 1973.00 and 1977.25. A reaction down to 1965.25 has largely recovered.
If, then…
Friday afternoon was vulnerable already to plunging back to Thursday”s 1944.00 low. Sunday night”s immediate plunge doesn”t ensure exploiting that vulnerability, not any deeper than already retracing it by 61.8% to attack 1959.00. Exiting the weekend with extreme sentiment can quickly become a sentiment extreme — so, not extending down quickly this morning can instead begin a recovery back up through last week”s highs.
First Trade…
Exiting the open at 9:45 above 1976.25 would be unlikely to trigger the 1970.00 bias-down signal at 10:15. Exiting the open under 1964.25 would be likely to trigger the 1970.00 bias-down signal at 10:15. Exiting the open under 1960.50 would be unlikely to recover the 1963.25 bias-down target at 10:15, renewing the bias-down signal.
So, did everyone run into
So, did everyone run into anyone this weekend NOT bottom-fishing last week”s drop? I certainly hope they”re right, although I suspect not, yet. It”s much too soon for that verdict. Meanwhile, use one of these links to monitor tonight”s Globex action in the chaRTroom, which opens at 6pm ET::
Win XP-Friendly — http://anymeeting.com/391-215-638
non-xp friendly — https://roddavid10.mitel-nhwc.com/join/bfyytsh
The Universe, week of Aug 31 2015… Big news.
Note: I publish “The Universe” every weekend, updating my support and resistance calculations for Marijuana sector stocks. It is not a projection, but a handy reference… Non-Marijuana stocks are covered elsewhere during the week.]
Links to || Last week”s Universe || Prior week”s Universe || Previous week”s Universe ||
Good
week, or bad? From the cannabis sector”s perspective, I”m not really sure. The broader market fell apart — humpty dumpty style, in my opinion, although that remains to be seen. Cannabis stocks held up relatively well, which is to say that they held. Of course, after their collective performance since last April”s peak, we can imagine them looking unimpressed by the broader market”s plunge.
As for the broader market, you already know that we”re adding a new aspect to this service called “The Investment Policy Committee.” I”m launching it offsite, and moving the cannabis stock coverage there, too, before the Labor Day weekend.
Look for a direct contact from me later this weekend with a complete description of the new service, and a FAQ regarding what this means to you, how it is being administered, and what steps you might need to take.
Meanwhile, back to business:
| Marijuana Stock Universe for August 31, 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 4 | 3.96% |
| trends* | # flat: | 16 | 15.84% |
| # down: | 81 | 80.20% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACGX | 0.000 | 0.003 | down |
| AERO | 1.000 | 1.950 | down |
| AGTK | 0.000 | 0.009 | down |
| AMMJ | 0.125 | 0.272 | down |
| ARNA | 2.410 | 3.320 | down |
| ATTBF | 0.035 | 0.075 | down |
| AVTC | 0.000 | 0.400 | down |
| BLOZF | 0.130 | 0.340 | down |
| BLPG | 0.015 | 0.086 | down |
| BNRDF | 0.520 | 0.610 | down |
| BRDT | 0.012 | 0.048 | down |
| BTFL | 0.071 | 0.232 | down |
| CAFS | 0.001 | 0.011 | down |
| CANL | 0.750 | 1.250 | down |
| CANN | 0.330 | 1.160 | down |
| CANV | 0.860 | 1.640 | down |
| CARA | 18.300 | 23.550 | flat |
| CBDS | 1.630 | 2.660 | flat |
| CBGI | 0.000 | 0.005 | down |
| CBIS | 0.020 | 0.041 | flat |
| CGRW | 0.360 | 0.610 | flat |
| CHUM | n/a | n/a | down |
| CNAB | 0.320 | 0.750 | down |
| DEWM | 0.001 | 0.003 | down |
| DIGP | 0.170 | 0.400 | down |
| DSCR | 0.000 | 0.025 | down |
| EAPH | 0.009 | 0.015 | down |
| EDXC | 0.019 | 0.047 | down |
| ENCC | n/a | n/a | down |
| ENDO | 0.006 | 0.018 | down |
| ENRT | 0.017 | 0.037 | down |
| ERBB | 0.003 | 0.006 | flat |
| ETST | n/a | n/a | flat |
| EXMT | 0.000 | 0.004 | up |
| FITX | 0.002 | 0.006 | down |
| FSPM | 0.000 | 0.250 | down |
| FULL | 3.060 | 3.660 | down |
| FWDG | 0.000 | 0.002 | down |
| GBLX | 0.270 | 0.460 | flat |
| GRCU | 0.000 | 0.004 | flat |
| GRNH | 0.023 | 0.067 | down |
| GWPH | 101.550 | 132.000 | down |
| HEMPD | 0.050 | 0.107 | down |
| ICBU | 0.000 | 0.003 | down |
| IGRW | 0.000 | 0.002 | down |
| IMLFF | 0.100 | 0.180 | down |
| INCC | 0.000 | 0.002 | down |
| INSY | 30.780 | 39.600 | down |
| ITNS | 0.001 | 0.005 | down |
| KAYS | 0.067 | 0.187 | flat |
| LATF | 0.000 | 0.001 | down |
| LXRP | 0.098 | 0.205 | flat |
| MCIG | 0.035 | 0.074 | down |
| MDBX | 0.145 | 0.240 u down | |
| MDCN | 0.000 | 0.001 | down |
| MDRM | 0.016 | 0.051 | flat |
| MINE | 0.002 | 0.005 | down |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.000 | 0.001 | down |
| MJNA | 0.041 | 0.055 | down |
| MNTR | 0.507 | 0.928 | down |
| MYEC | 0.010 | 0.015 | down |
| MYHI | 0.013 | 0.188 | down |
| NDEV | 0.016 | 0.053 | down |
| NMUS | 0.620 | 1.600 | down |
| NRTI | 0.000 | 0.002 | down |
| NTRR | 0.022 | 0.046 | flat |
| OGRMF | 0.208 | 0.337 | down |
| OSLH | 0.000 | 0.001 | down |
| OXIS | 0.015 | 0.027 | down |
| PHOT | 0.010 | 0.030 | down |
| PLPL | 0.109 | 0.177 | down |
| PMCB | 0.080 | 0.129 | down |
| PNTV | 0.001 | 0.007 | down |
| PZOO | 0.004 | 0.008 | down |
| QEDN | 0.000 | 0.003 | down |
| REDG | 0.000 | 0.003 | down |
| RFMK | 0.000 | 0.002 | down |
| RSSFF | 0.030 | 0.100 | down |
| SING | 0.005 | 0.012 | flat |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.082 | 0.165 | down |
| SRNA | 0.100 | 0.185 | up |
| STEV | 0.049 | 0.072 | flat |
| TAUG | 0.000 | 0.005 | down |
| THCZ | 0.051 | 0.013 | down |
| TRTC | 0.100 | 0.165 | flat |
| TURV | 0.710 | 1.11 | up |
| TWMJF | 1.100 | 1.380 | down |
| UPOT | 0.080 | 0.270 | down |
| USEI | 0.000 | 0.003 | down |
| VAPE | 0.088 | 0.275 | down |
| VAPR | 0.000 | 0.050 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.024 | 0.045 | up |
| VPCO | 0.069 | 0.840 | down |
| VPOR | 0.000 | 0.001 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.005 | 0.013 | flat |
| XTRM | 0.001 | 0.004 | down |
| XXII | 0.430 | 0.780 | down |
Saturday Review’s recording (for 8/29/15) … Bounces vs. bottoms.
This weekend”s Saturday Review described the recent plunge and its current bottoming attempt, elaborating on why it”s only a bottoming attempt and not a durable bottom. The likeliest paths Sunday night and Monday morning were described, with ideas for playing them. The discussion included a perspective on rationalizing / justifying a trade, and the necessity of abandoning a trade…
The following stocks were discussed, including a brief discussion of the difference between price momentum (as expressed by MACD) and buying/selling strength (which is depicted by RSI). The chat transcript follows:
SVXY, FCX, S, OGZPY, PAAS, SIG, SNH, NGD, DPZ, TPX, PII, INTC, BOFI
08/29/2015 09:31:56 David B: good morning
08/29/2015 09:32:13 joep: gm
08/29/2015 09:32:18 Charles Daniel: hi0
08/29/2015 09:32:24 Mark Glezer: gm
08/29/2015 09:46:07 Mark Glezer: would u expect a move down to happen in
a single intraday leg?
08/29/2015 10:11:14 lloyd: any timing for testing low or breaking it?
I”m just checking I”m to ask question. If already answered ignore. i wi
08/29/2015 10:12:12 lloyd: I will listen to recording. have to go Thx
08/29/2015 10:19:21 Miss Kitty: What are some lower targets along the
way?
08/29/2015 10:27:55 steve: can you look at SVXY?
08/29/2015 10:31:39 David B: FCX,S
08/29/2015 10:34:31 MK: OGZPY
08/29/2015 10:35:15 MK: PAAS
08/29/2015 10:35:50 MK: SIG (Short)
08/29/2015 10:36:07 MK: SNH
08/29/2015 10:36:22 MK: NGD
08/29/2015 10:36:38 MK: DPZ (Short)
08/29/2015 10:37:44 MK: TPX (short)
08/29/2015 10:38:16 MK: PII (SHORT)
08/29/2015 10:38:34 MK: INTC (SHORT)
08/29/2015 10:39:03 MK: BOFI (SHORT)
08/29/2015 10:39:19 MK: sorry but i have to take care of something so
i”ll watch the stocks on the recording
08/29/2015 10:55:10 MK: ok
08/29/2015 10:55:12 MK: thats fine
08/29/2015 11:06:07 Josey: Thank you Rod! part of todays discussion was
me. I am always learning from your teaching
08/29/2015 11:06:16 joep: same to you
08/29/2015 11:07:03 Charles Daniel: tks!