Posts by Rod David
The weekend”s Saturday Review begins
The weekend”s Saturday Review begins shortly at 9:30am ET, at the following link:
https://roddavid10.mitel-nhwc.com/join/shkphyy
We”ll review the market”s “bigger picture” including the parameters behind a couple of the week”s pivotal calls, what is likely next, and then plan for Sunday night / Monday morning”s open. We”ll also review your stock charts on-demand.
See you soon!
The Universe, week of February 23 2015
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 ||
Pattern matching the recent FITX pick identified two candidates last
week. VPOR performed well, although it peaked short of its likely
target. Failing to hold the pullback limit that I posted to Thursday”s
Activity Feed got out of the way of a deeper drop Friday that retraced
nearly the entire surge. I”ll update there if another entry parameter
develops.
The other candidate was NRTI and it did not break out of its triangle. But it remains a candidate for this week, nonetheless.
Two other observations of possibly bullish action include ATTBF, which
is on the cusp. Almost any higher close on expanding volume would be
credible for extending higher. Lacking either of these conditions would
not qualify.
Also, GWPH has been improving, breaking above my longstanding
resistance, and not looking back while extending higher into the
weekend. And meanwhile its volume has been expanding. This puts the
pressure on performing, so the rally should start turning exponential,
or else it may have ended already.
| Marijuana Stock Universe for February 23, 2015 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 17 | 16.04% |
| trends* | # flat: | 25 | 23.58% |
| # down: | 64 | 60.38% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACAN | 0.050 | 1.260 | down |
| ACGX | 0.000 | 0.003 | flat |
| AERO | 3.550 | 4.550 | flat |
| AGTK | 0.015 | 0.103 | down |
| AMMJ | 0.500 | 1.070 | flat |
| ARNA | 4.150 | 5.300 | up |
| ATTBF | 0.093 | 0.175 | flat |
| AVTC | 1.050 | 1.480 | down |
| AXXU | 0.066 | 0.377 | down |
| BLOZF | 0.280 | 0.570 | up |
| BLPG | 0.120 | 0.370 | down |
| BNRDF | 0.605 | 0.795 | flat |
| BRDT | 0.032 | 0.094 | down |
| BTFL (cank) | n/a | n/a | down |
| CANL | 1.050 | 1.570 | flat |
| CANN | 3.150 | 6.700 | up |
| CANV | 2.700 | 3.700 | flat |
| CARA | 9.960 | 12.450 | up |
| CBDS | 5.100 | 8.150 | down |
| CBGI | 0.002 | 0.015 | down |
| CBIS | 0.045 | 0.065 | down |
| CGRW (bzcn) | 0.530 | 0.960 | up |
| CHUM | n/a | n/a | down |
| CNAB | 1.185 | 2.035 | up |
| CTCO | 0.060 | 0.330 | down |
| DEWM | 0.001 | 0.004 | down |
| DIGP | 0.025 | 0.100 | down |
| DSCR | 0.000 | 0.025 | down |
| EAPH | 0.013 | 0.028 | flat |
| EDXC | 0.031 | 0.077 | down |
| ENDO | 0.014 | 0.031 | down |
| ENRT | 0.048 | 0.100 | flat |
| ERBB | 0.011 | 0.013 | down |
| EXMT | 0.000 | 0.004 | down |
| FITX | 0.008 | 0.016 | flat |
| FOFU | 0.025 | 0.066 | up |
| FRTD | n/a | 0.008 | flat |
| FSPM | 0.018 | 0.460 | flat |
| FULL | 4.380 | 5.230 | down |
| FWDG | 0.005 | 0.018 | down |
| GBLX | 0.208 | 0.486 | down |
| GRCU | 0.003 | 0.008 | flat |
| GRNH | 0.090 | 0.174 | down |
| GWPH | 79.900 | 87.650 | up |
| HEMP | 0.032 | 0.048 | flat |
| ICBU | 0.004 | 0.011 | down |
| IGPK | n/a | n/a | down |
| IGRW | 0.001 | 0.004 | down |
| IMLFF | 0.236 | 0.320 | up |
| INCC | 0.001 | 0.007 | flat |
| INSY | 47.250 | 56.350 | up |
| ITNS | 0.006 | 0.011 | down |
| LATF | 0.001 | 0.003 | down |
| LXRP | 0.060 | 0.129 | flat |
| MCIG | 0.132 | 0.222 | down |
| MDBX | 0.950 | 2.270 | down |
| MDCN | 0.000 | 0.168 | down |
| MDRM | 0.024 | 0.060 | down |
| MINE | 0.007 | 0.014 | up |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.020 | 0.499 | down |
| MJNA | 0.099 | 0.160 | down |
| MJNE | n/a | n/a | down |
| MNTR | 0.810 | 1.550 | flat |
| MYEC | 0.012 | 0.027 | down |
| MYHI | 0.000 | 0.380 | down |
| NDEV | 0.200 | 0.440 | flat |
| NRTI | 0.014 | 0.048 | flat |
| NTRR | 0.027 | 0.069 | down |
| OGRMF | 0.304 | 0.615 | down |
| OSLH | 0.004 | 0.015 | down |
| OXIS | 0.013 | 0.044 | up |
| PAUFF | n/a | n/a | down |
| PHOT | 0.019 | 0.065 | down |
| PLPL | 0.220 | 0.315 | down |
| PMCB (nvlx) | 0.098 | 0.188 | down |
| PNTV | n/a | n/a | flat |
| PZOO | 0.005 | 0.020 | down |
| QEDN | 0.001 | 0.007 | down |
| REDG | 0.000 | 0.003 | up |
| RFMK | 0.000 | 0.002 | down |
| RSSFF | 0.069 | 0.266 | flat |
| SING | 0.008 | 0.017 | up |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.198 | 0.283 | down |
| SRNA | 0.150 | 0.350 | down |
| STEV | 0.071 | 0.100 | flat |
| TAUG | 0.009 | 0.013 | down |
| THCZ | 0.026 | 0.041 | up |
| TRTC | 0.213 | 0.268 | down |
| TURV | 0.410 | 0.775 | down |
| TWMJF | 1.670 | 2.250 | flat |
| UPOT | 0.150 | 0.550 | down |
| USEI | 0.000 | 0.003 | flat |
| UTRM | 0.000 | 0.000 | down |
| VAPE | 0.490 | 0.930 | down |
| VAPR | 0.050 | 0.120 | flat |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.019 | 0.040 | down |
| VPCO | 0.820 | 1.290 | down |
| VPOR | 0.002 | 0.038 | down |
| VRCI | 0.000 | 0.009 | down |
| WDHR (anyi) | 0.000 | 0.002 | down |
| WOGI (cybk) | 0.004 | 0.009 | up |
| XTRM | 0.003 | 0.007 | up |
| XXII | 0.710 | 1.160 | down |
| ZDPY | n/a | n/a | n/a |
Target met! Now, what? We”ll
Target met! Now, what? We”ll address that more deeply in the morning, but for the moment, here”s Friday”s post-close Market Wrap:
https://roddavid10.mitel-nhwc.com/join/bwzwsxb
Morning bias
| MON morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 2112.00 | 2109.50 |
| …would target | 2116.75 | 2114.25 |
| Bias-down: under | 2105.75 | 2103.25 |
| …would target | 2100.00 | 2097.50 |
| Signal status: BIAS-DOWN | FAQ | |
| INTRO VIDEOS #1 and #2 | ||
1. At 10:15, trading above the bias-up signal or under the bias-down signal would put into play a test of its bias-up or bias-down target.
2. Not triggering either bias signal at 10:15 would be “no-bias,” and the bias signals should define the bias environment”s range.
— A test of the opposite bias signal would be targeted if one bias signal was tested before triggering no-bias.
3. Touching the bias signal within 3 minutes either way of 10:15 would invoke a grace period through 10:30 to trigger a late signal.
— “Late” signals don”t require testing the opposite bias signal, but it”s still likely.
4. Still testing the bias signal at 10:30 after invoking the grace period would trigger “noN-bias,” with no bias influence.
Trading Plan for 2/23
If Greece can be persuaded not to leave the Euro… then the rally must have pretty good friends in pretty high places. No, seriously.
Pattern points… (Setups and technicals)
Breakout! Friday”s close was the first one above a multi-session range. If confirmed by a second consecutive higher close on Monday, then at least an eventual third higher close would be required. Being a new trend high close on a Friday, a higher close is still required, but only eventually.
The latter setup may be more relevant after Friday”s 25-point high-to-low rally. And not just because it seems to have fully discounted the day”s anti-Grexit developments. But Friday breakouts aren”t often confirmed on Monday. And characteristics of the week”s multi-session range already suggested its next upleg would be temporary.
Friday”s rally did create room for some initial selling that doesn”t damage the upward momentum. But that”s the open. Probing higher highs at any point intraday wouldn”t prevent an afternoon sell-off that puts the rally on defense.
What”s Next… (Outlook and opportunities)
We”ll talk about different possible opens at the weekend”s Saturday Review. We”ll also review any stock chart requests. Click here as much as 30 minutes before the 9:30am ET start time.