Bigger Picture
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The Universe, week of Jan 18, 2016…
[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.]
[Next week’s issue won’t be published until Monday evening, Jan 18]
The broader market’s very bad, no good, horrible, terrible week is taking a toll on the Cannabis sector. And it’s not.
The toll being taken is that the percentage of stocks in rising patterns has shrunk to 5%. Meanwhile, that tally reflects several stocks coming on to the list that are replacing those dropping off.
One week does not a trend make. But the following stocks are either new to the potentially bullish list, or improving their previously potentially bullish situation: EAPH, GBLX, ITNS, GRNH, MINE, SRNA.
Notice, the “potentially” bullish reference. They have yet to confirm, or have only traced out possible bottoming patterns.
| Marijuana Stock Universe for January 11, 2016 | |||
| Reference this table during stock reactions | |||
| 4-week | # up: | 5 | 5.00% |
| trends* | # flat: | 23 | 23.00% |
| # down: | 72 | 72.00% | |
| *The percentages of stocks rising or falling over 4 weeks. | |||
| symbol | support | resistance | 4-week trend |
| ACGX | 0.000 | 0.003 | down |
| AERO | 0.830 | 1.260 | down |
| AGTK | 0.000 | 0.004 | down |
| AMMJ | 0.070 | 0.160 | flat |
| ARNA | 1.650 | 2.200 | down |
| ATTBF | 0.035 | 0.075 | flat |
| BLOZF | 0.087 | 0.163 | down |
| BLPG | 0.015 | 0.086 | down |
| BRDT | 0.012 | 0.031 | down |
| BTFL | 0.002 | 0.005 | down |
| CAFS | 0.001 | 0.011 | down |
| CANL | 0.053 | 0.290 | down |
| CANN | 0.550 | 0.770 | flat |
| CANV | 0.110 | 0.215 | down |
| CARA | 13.800 | 17.100 | flat |
| CBDS | 0.510 | 1.850 | down |
| CBGI | 0.000 | 0.005 | down |
| CBIS | 0.015 | 0.023 | down |
| CGRW | 0.360 | 0.610 | flat |
| CHUM | n/a | n/a | down |
| CNAB | 0.150 | 0.330 | down |
| DEWM | 0.002 | 0.004 | flat |
| DIGP | 0.120 | 0.220 | down |
| DSCR | 0.000 | 0.025 | down |
| EAPH | 0.004 | 0.009 | flat |
| EDXC | 0.007 | 0.019 | down |
| ENCC | n/a | n/a | down |
| ENDO | 0.002 | 0.004 | down |
| ENRT | 0.010 | 0.017 | down |
| ERBB | 0.001 | 0.003 | down |
| ETST | n/a | n/a | down |
| EXMT | 0.000 | 0.004 | down |
| FITX | 0.000 | 0.005 | down |
| FSPM | 0.000 | 0.250 | down |
| FULL | 2.470 | 2.860 | down |
| FWDG | 0.000 | 0.002 | down |
| GBLX | 0.170 | 0.260 | down |
| GRCU | 0.000 | 0.004 | down |
| GRNH | 0.038 | 0.054 | up |
| GWPH | 54.900 | 67.780 | down |
| HEMP | 0.040 | 0.052 | down |
| ICBU | 0.000 | 0.003 | down |
| IGRW | 0.000 | 0.002 | down |
| IMLFF | 0.110 | 0.180 | flat |
| INCC | 0.000 | 0.002 | down |
| INSY | 23.000 | 30.000 | flat |
| ITNS | 0.001 | 0.005 | flat |
| KAYS | 0.067 | 0.187 | flat |
| LATF | 0.000 | 0.001 | down |
| LXRPD | 0.133 | 0.209 | down |
| MCIG | 0.035 | 0.055 | up |
| MDBX | 0.003 | 0.033 | down |
| MDCN | 0.000 | 0.001 | down |
| MDRM | 0.025 | 0.060 | up |
| MINE | 0.029 | 0.068 | flat |
| MJMD | 0.000 | 0.015 | down |
| MJMJ | 0.000 | 0.001 | flat |
| MJNA | 0.036 | 0.048 | flat |
| MNTR | 0.220 | 0.036 | down |
| MSRT | 0.830 | 1.410 | down |
| MYEC | 0.008 | 0.012 | down |
| MYHI | 0.013 | 0.100 | down |
| NDEV | 0.008 | 0.026 | down |
| NMUS | 0.450 | 1.070 | flat |
| NRTI | 0.000 | 0.002 | down |
| NTRR | 1.800 | 3.350 | up |
| OGRMF | 0.510 | 0.920 | flat |
| OSLH | 0.000 | 0.001 | down |
| OXISD | 2.250 | 4.750 | down |
| PHOT | 0.004 | 0.014 | down |
| PLPL | 0.053 | 0.121 | down |
| PMCB | 0.064 | 0.091 | flat |
| PNTV | 0.002 | 0.005 | flat |
| PZOO | 0.000 | 0.002 | down |
| QEDN | 0.000 | 0.003 | down |
| REDG | 0.000 | 0.003 | down |
| RFMK | 0.000 | 0.002 | down |
| RMHB | 0.037 | 0.073 | down |
| RSSFF | 0.030 | 0.100 | down |
| SING | 0.005 | 0.012 | down |
| SKTO | 0.000 | 0.004 | down |
| SPRWF | 0.325 | 0.450 | up |
| SRNA | 0.070 | 0.100 | flat |
| STEV | 0.022 | 0.039 | down |
| TAUG | 0.001 | 0.004 | down |
| TRTC | 0.082 | 0.118 | down |
| TURV | 0.463 | 0.770 | flat |
| TWMJF | 1.800 | 2.400 | flat |
| UPOT | 0.010 | 0.050 | down |
| USEI | 0.000 | 0.003 | down |
| VAPE | 0.003 | 0.023 | down |
| VAPR | 0.000 | 0.020 | down |
| VGPR | 0.000 | 0.002 | down |
| VHUB | 0.025 | 0.048 | down |
| VPCO | 0.139 | 0.449 | down |
| VPOR | 0.000 | 0.001 | down |
| WDHR | 0.000 | 0.002 | down |
| WOGI | 0.001 | 0.004 | down |
| XTRM | 0.001 | 0.004 | flat |
| XXII | 1.310 | 1.700 | flat |
Saturday Review’s recording (for 1/9/16)…
The market’s worst start to a new year, ever. More to come? Necessarily straight down? Detouring up could get how high? We answered these questions, while looking forward to this week’s WedEX and other influences like the coming 3-day holiday weekend.
The following stock requests were reviewed in this order:
AMZN, PZZA, CW, SE, GPRO, TWTR, PICO, HAL, FEYE, AAPL, NXPI, LLL, SNH, ABTL, SIG, EQIX, BKX
01/09/2016 09:31:12 David B: Good Morning
01/09/2016 09:31:18 MK: gm
01/09/2016 09:31:22 Bill G: gm
01/09/2016 09:31:35 Mark Glezer: gm
01/09/2016 09:34:30 MK: oh nice so if you just do 5am start and 5pm boot
01/09/2016 09:34:34 MK: that works perfectly
01/09/2016 09:34:34 sm: annotations not being seen
01/09/2016 09:36:00 sm: right
01/09/2016 09:36:08 Mark Glezer: no
01/09/2016 09:36:09 MK: nope
01/09/2016 09:36:13 steve: not visible
01/09/2016 09:36:14 David B: no
01/09/2016 09:36:20 tom: not seeing
01/09/2016 09:36:28 David B: not visible
01/09/2016 09:36:48 David B: no
01/09/2016 09:36:49 sm: no
01/09/2016 09:36:50 Mark Glezer: no
01/09/2016 09:36:50 MK: nein
01/09/2016 09:36:53 steve: no
01/09/2016 09:49:00 MK: rod cash actually probed the v bottom
01/09/2016 09:49:10 MK: in august
01/09/2016 09:49:37 MK: harumph
01/09/2016 09:49:41 MK: on my chart
01/09/2016 09:49:44 MK: i have it
01/09/2016 09:49:45 MK: weird
01/09/2016 09:51:19 MK: now i have to figure out why i hae a 1814.40 low for Aug
01/09/2016 09:55:37 sm: ;)
01/09/2016 09:57:17 sm: so are we looking for a 17 handle?
01/09/2016 09:59:00 tom: so if iy gaps up on Monday where would you expect that to go?
01/09/2016 10:00:29 ljr: stocks: NFLX, FXI,
01/09/2016 10:01:01 steve: could a large gap up seal a low or only be temporary?
01/09/2016 10:01:21 Mark Glezer: gap down likelihood is higher because of the character of the close?
01/09/2016 10:02:02 David B: is it to early for tracking your crash template?
01/09/2016 10:02:13 Mark Glezer: still expecting an intraday drop of 100 pts ?
01/09/2016 10:02:20 tom: if it doesn’t gap up to at least 42-45 then it should retrace is that correct?
01/09/2016 10:03:09 Mark Glezer: are counting down 10-11 sessions from the beginning of the decline?
01/09/2016 10:03:44 steve: market internals are really stretched here, normally leading to a bounce. So if it doesnt bounce, the rubber-band breaks down hard?
01/09/2016 10:06:27 Bill G: The “87 crash low stopped at the 200 wk m.a. which today is 1778 spx.
01/09/2016 10:07:14 Mark Glezer: can a gap down on Mon under 1880 create too much selling that cannot sustain & reverses back up or it’d be too low to invert?
01/09/2016 10:11:16 David B: what happens with the wed ex with mon no trading. is tues morning take its place?
01/09/2016 10:13:35 Bill G: Option exp is 1/15
01/09/2016 10:16:28 Bill G: y
01/09/2016 10:16:41 Bill G: low intraday
01/09/2016 10:18:55 Bill G: I’m just thinking algo programming. I get your point
01/09/2016 10:21:48 tom: AMZN,PZZA
01/09/2016 10:23:30 MK: CW
01/09/2016 10:23:33 MK: SE
01/09/2016 10:23:42 MK: PICO
01/09/2016 10:23:46 MK: HAL
01/09/2016 10:23:46 MK: LLL
01/09/2016 10:23:57 MK: NXPI
01/09/2016 10:23:59 MK: ABTL
01/09/2016 10:24:01 MK: SIG
01/09/2016 10:24:46 David B: GPRO,TWTR are these still jan candidates?
01/09/2016 10:28:32 tom: i am short PZZA
01/09/2016 10:30:16 tom: ok thx
01/09/2016 10:30:56 MK: LONG
01/09/2016 10:33:00 MK: yeah
01/09/2016 10:33:07 MK: i like it if/ market rallies
01/09/2016 10:33:09 MK: will ad a lot
01/09/2016 10:33:14 MK: and chart doesn’t break
01/09/2016 10:36:07 David B: that gapup and negative closed was that bearish?
01/09/2016 10:36:14 David B: gap up
01/09/2016 10:36:22 David B: expanding volume
01/09/2016 10:37:17 David B: FEYE is this still a jan candidate?
01/09/2016 10:37:46 David B: i’m referring to the gap up on GPRO
01/09/2016 10:39:03 MK: activist investor stakes
01/09/2016 10:39:39 MK: thats ugly
01/09/2016 10:39:43 MK: nevermind
01/09/2016 10:42:58 Mark Glezer: AAPL
01/09/2016 10:43:09 David B: yes
01/09/2016 10:43:42 Mark Glezer: headline on CNN says 65 is next
01/09/2016 10:43:57 MK: SNH january effect?
01/09/2016 10:46:12 MK: i wussed out and covered a bunch
01/09/2016 10:48:35 MK: LL is lumber liquidators
01/09/2016 10:49:00 MK: ok
01/09/2016 10:49:02 MK: no worreis
01/09/2016 10:49:04 MK: small postion
01/09/2016 10:50:08 Mark Glezer: :)
01/09/2016 10:53:10 Mark Glezer: hahah
01/09/2016 10:54:21 MK: yes
01/09/2016 10:55:17 MK: what pullback
01/09/2016 10:55:59 MK: Also I would like to monitor EQIX going forward
01/09/2016 10:56:06 MK: my proxy tech bubble short
01/09/2016 10:56:28 MK: no position yet
01/09/2016 10:56:31 MK: but stalking
01/09/2016 10:57:02 MK: ABTL i coverd 60% of my position
01/09/2016 10:57:27 MK: bounce back to 21?
01/09/2016 10:58:24 MK: ok
01/09/2016 10:59:47 MK: its tech “REAL ESTATE”
01/09/2016 10:59:48 sm: BKX
01/09/2016 10:59:52 MK: so its massively lagging
01/09/2016 11:00:06 MK: they sell space for servers
01/09/2016 11:00:35 MK: gotta bounce
01/09/2016 11:00:37 MK: have a good weekend
01/09/2016 11:01:37 Mark Glezer: thx much
01/09/2016 11:01:39 Bill G: Have a good one
01/09/2016 11:01:47 sm: thx
01/09/2016 11:01:57 Josey: Thank you, Rod!
Look ahead: Economic Calendar – for Mon Jan 11, 2016
A midday look ahead in preparation for economic reports and events scheduled for the next trading day.
Highlights: Monday morning’s econ report has no track record of influencing price action. The noon hour’s Fed speaker does.
Labor Market Conditions Index
10:00 AM ET
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET
*Dennis Lockhart Speaks
12:40 PM ET
Saturday Review Link
Be sure to join us at either link below by 9:30am ET for this weekend’s Saturday Review.
We’ll discuss the market’s bigger picture, and then review any stock charts that you request.