Bigger Picture

Livestox started with a discussion of OXIS. The stock had been testing support for quite awhile without ether recovering or extending down. But it was probing lower. And it was probing lower at the same time while it was being touted. So, I warned at the time that when news and price diverge, usually it is price that knows more than news.

Then the stock lost 50%.

I applied this to the stock market. A trading range since February (if not earlier) has been accompanied by “good” news that would enable a favorable environment. But the trading range persists. Price probably knows more than the news.

We also discussed Oil and Gold, and the following stocks (including the five that this week”s Universe focused on):

OXIS

USO

GLD

VAPE

TAUG

STEV

TRTC

CGRW

ENDO

PLPL

THCZ

TURV

The Livecharts issue has now been resolved. But I have to focus on a timing window in the market through the bottom of the hour. So, let”s restart our Livestox session at 1:30.

Livestox starts at 12:15 ET. We”ll review the market, which continues absorb dips and to threaten new highs. Crude Oil is heading to a lower target, and so is Gold, so we”ll also review those markets. Add your stock chart analysis requests to this post”s comments section, and I”ll review them along with this week”s Universe focus stocks.

https://roddavid10.mitel-nhwc.com/join/pcxsrhm

optional teleconference instructions (required for iPad and tablets):
1-605-562-0020
Meeting ID 976-912-682 #

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 ||

I”m observing more accumulative patterns. These include patterns that have been probing lower lows without triggering a new downtrend. Also, patterns that have bounced above a prior high, and then resolved a dip by bouncing higher. But, so far, these remain the exception and not yet the rule.

None of which is unusual. Six weeks ago I listed seven attractive stocks, five of which almost immediately began substantial double-digit runs, and a sixth that started later. Most have settled back. Three weeks ago I could find only one turnaround candidate, GBLX, which doubled and then some quickly. And the only candidate I”ve already found more recently and already mentioned is VAPE.

So, having multiple candidates today doesn”t ensure having only one candidate or none in several weeks. But here they are — we”ll review them during Livestox, but meanwhile post any opinions about them to this blog post”s comments section: CGRW, ENDO, PLPL, THCZ, TURV and still VAPE.