Bigger Picture

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 ||

Last week in this space I beseeched the sector to produce some valid leadership, immediately. The sector did not listen to me. Several issues that had been toying with support probed lower. Several issues with flat rolling 4-week moving averages shifted down. Only thanks to a couple of improved issues did the percentage hold double-digits.

By way of describing how leadership could extend throughout the sector, I pointed to then-current price action in MCIG and VAPE. The former didn”t follow-through, but the latter did end the week at a new relative high. Worth at least looking at. I”ll update it on the Activity Feed, as I did with the GBLX signal I pointed out one week ago at .28 — this week ended with my .46 target serving as support to a pullback from .74.

The extended pop-ups appearing sporadically among issues, whether or not news-driven, probably won”t be enough to entice broader buying. But coining a phrase, a triple here and a triple there, and pretty soon you”re talking about real potential. For the broader base, hopefully it”s darkest before the dawn.

Wednesday”s Livestox covered the broader market, which still has potential to new highs, and then reviewed Oil and Gold The following stocks were covered in the following order:

ISI

MDBX

TPIV

OXIS

ATTBF

IMGN

FEYE

GTLS

AAPL

GILD

Livestox starts in 15 minutes at 12:15 ET. You do not want to miss it! Because then you”ll have to watch the recording! But that”s okay! That”s what the recording”s for! Still, your real-time presence is always appreciated! I”ve run out of exclamation points+

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

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

Livestox will start at 12:15pm ET. We”ll review this week”s stock market swing and discuss the potential for probing new highs. If you”ve been considering whether to buy SPXS, whether as a bet or as a hedge, then be sure to tune in. Then we”ll review your stock chart requests, and I”ll provide details about the increased activity in Trade Alerts that you”re about to see.

Phone callers — I”ve tested the conference facility again this morning, and all is a-ok, as it was last week.

Login info: (iPads and Tablets use the accompanying teleconference info to get audio.)
https://roddavid10.mitel-nhwc.com/join/pcxsrhm

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

Here”s recent Activity Feed posts to allow the Marketfy search engine to index them:
tamaramessmann — BABA- what are the relavent levels. What would be a good entry point for a long? Posted 4 days ago
Rod-David — Thursday”s reaction to earnings probed prior highs without closing above them. Until that”s rectified, the greater risk is to the downside and to new lows.
fennecby — ooh. mild optimism. from a contrarian perspective, that bodes ill for the coming week, no? (-: Posted 2 days ago
fennecby — how”s VBLT looking to you this morning? bottom-fishing, to be sure. Posted 2 days ago
Rod-David — VBLT — The low is being attacked after a temporary dead cat bounce that retraced some of February”s gap down. Looks like a broken stock that is on its way to new lows Posted Yesterday
fennecby — ok then. so i won”t buy it. (-: Posted Yesterday
fennecby — what do you make of that V bottom (?) in NVMI? earnings tonight. Posted Yesterday
Rod David — NVMI – Is that a “V” bottom? There are two tests of the same low, on two separate days. Even if the first touch is just noise, the second is actually a gap down that almost immediately reverses back up. I would want a “V” bottom to develop intraday as capitulation. Posted Yesterday
fennecby — so if not that, what is it? or rather, where do we go from here?
And a decent pullback point for entry into ICLD? Posted Yesterday
Rod-David — NVMI — Until 11.50 is recovered, there is no requirement to resume the rally. Posted Yesterday
Rod-David — ICLD — A little too far progressed to have a new pullback parameter. The last one was 3.90, which had been resistance, and then its test as support produced a fresh high. Now it had better hold to avoid ending this stage of the rally Posted Yesterday
fennecby — thanks X2. Should have acted on it sooner… Posted Yesterday
Rod-David — Stop is at 598 Posted Yesterday
fennecby — can”t short, but thanks (-: Posted Yesterday
tamaramessmann — NLNK- have the relevant levels changed? stop of 51.40 . What is the upside target or do you think we are probably headed down? Posted Yesterday
Rod-David — NLNK — Until recovering 53.50, this bounce from 44 will be viewed suspiciously. It was launched by a Double Bottom (a pattern that is often retested), and volume has been contracting while a Rising Wedge has formed. Closing above 53.50 would put all of that aside and target fresh highs above 60 Posted Yesterday
fennecby — is 3.8 on BCLI still significant? Just pierced on volume. Posted Yesterday
Josey — Rod , is today a negative that there is no follow through from Friday. Time for SPXS or wait for a close under 2072? Volume seems weak almost everywhere.Thank You! Posted Yesterday
Rod-David — BCLI — Yes, 3.80 is relevant. Posted Yesterday
Rod-David — SPXS — My futures product is timing the market, so that question can be answered there. Sorry Posted Yesterday
Josey — :( Posted Yesterday
Dittmeyer — Not Cool Rod – we pay YOU too. Posted Yesterday
Rod-David — Sorry, I”ve covered this before but haven”t disseminated it as much I could have… This stock service is for analysis of equities, and the futures service is for analysis of markets and indexes. I do make a point of reviewing the market”s bigger picture during every Livestox, but I don”t call index trades in the stock product. SPXS and the like are index products, so I think it”s unfair to those paying 10x this service”s rate if I were to re-post that content here. Posted Yesterday
Rod David — Anyone that wants to try the futures service is welcome to use this 75% discount, Posted Yesterday
Rod David — https://marketfy.com/secure/buy/rod-davids-futu… Posted Yesterday
Rod David — There you”ll see that my market timing is much shorter-term than this forum”s pace. Posted Yesterday
Rod David — I hope that clears up things! Posted Yesterday
Dittmeyer — So we get 10x less, sounds like a racket Posted Yesterday — “Edited”
Rod-David — Unfortunately, that”s how it is (and has been always) with regards to Index and Commodity ETFs, although I do cover them in detail each week during Livestox. But the market timing is part of a separate service, which I hope you”ll consider checking out so you can see what I mean about the different pace. Posted Yesterday
guanito — Hi Rod – Bot VAPE @ .48 on fibonacci retracement level. Spiked down in the afternoon and I”m wondering if it”s just noise or if chart is ruined? Still closed above downtrending resistance. Tks. Posted Yesterday
Rod-David — VAPE — Not ruined, but needing to close today above at least .52, and preferably also above .57 to launch a new upleg. Posted Yesterday
guanito — Tku! Posted 22 hours ago
casjf — NLNK way down pre-market because of a study moving to phase 3 – thought to indicate the efficacy is low in this case. I may have already sold before market start, but curious what retracement for a bounce you think we could get, if any? Posted 21 hours ago
recentiy03 — GEVO looks like it surged, retraced 61.8%, and now it”s up this morning–what would be the next targets? Posted 21 hours ago
Rod-David — NLNK — Had really nice volume into recovering 49.25, which extended to 53 before yesterday”s news. Today”s gap down testing 39 can form a bottom so long as 42-43 were recovered through the close. Posted 21 hours ago
McCall — Rod, you could take a look at VLTC ticker today? you might have already reviewed it and i missed it but the stock has been a crazy one. Posted 20 hours ago
Rod-David — NFLX — If today”s broader market break is recovered into the afternoon, I would considering covering the NFLX short and monitoring for a higher short-entry. Posted 20 hours ago
Rod-David — GEVO — Closing back above 5.30 would target 6 and potentially 6.95 Posted 20 hours ago
Rod-David — VLTC — That”s not an accumulative pattern at all, and should be on its way next to 88.20. A sudden surge could extend to attack 10, and still not be considered accumulative. Posted 20 hours ago
fennecby — time to buy JAKK again? and target(s), if and when? Posted 19 hours ago
Rod-David — JAKK — If it”s not breaking noticeably above 7.35 on sharply expanding volume pretty soon, then it”s next target is 4.50. Posted 19 hours ago
fennecby — 4.50? seriously?
and if it does manage to cross 7.35? Posted 18 hours ago
Rod-David — JAKK — It”s not an accumulative pattern, so above 7.35 would simply have big resistance at 8.05 and 9 Posted 18 hours ago
fennecby — good to know (or not) re JAKK. thanks. Posted 14 hours ago
fennecby — but hang on – what changed from end of April? You said then that
Holding 6.65 [which it did] would complete a 61.8% projection from its recent Double Top. Back above 7.03 [done today] would confirm momentum reversing back up.
So… what am I missing? Posted 14 hours ago
JAKK — 7.03”s recovery isn”t accompanied by expanding volume. If price were to extend higher without volume expansion, then it is likely to encounter resistance 8.05 and 9 because that is only a corrective bounce.
Josey — To whom it may concern, I just found in the SEC filings that OXIS has filed a pre 14c on May 8th. Not less than 1 for 50 to as high as 1 for 250 reverse split. Posted 16 hours ago
recentiy03 — Re OXIS — The CEO mentioned the split in the recent CC, and indicated it will only be used if necessary, and once they”ve obtained institutional funding, it”s all part of the pre-established plan to list on the NASDAQ by the end of the year. Posted 15 hours ago
casjf — NLNK – Support & target for second day bounce? Posted 14 hours ago
Dittmeyer — That OXIS thing is going to be interesting ? Pie in the sky if you ask me, NASDAQ? Posted 13 hours ago
Jo B — OXIS will be fun to watch. Posted 13 hours ago
Rod-David — NLNK — Back above 39.35 could make it to 42.40 or even to 46.15. But the trend is down, so long as tomorrow”s close hasn”t recovered 41 Posted 12 hours ago
recentiy03 — Re: OXIS — Pie in the sky, or history repeating itself? http://marijuanastocks.com/detailing-the-upcomi… Posted 8 hours ago — “Edited”

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 ||

Last week”s most promising anecdote was also a failure. So far. But it was also a success, also so far. That was Thursday”s one-day doubling of MCIG. 

Bullish guidance triggered a 22% gap up. It ranged sideways through the noon hour, and then took off through the final hour. Its high touched prices last seen all of five weeks ago. That”s not very long, at all, so it illustrates how much selling had been flushed out. And Wednesday”s close was a new low, creating a gap that will want to be filled eventually. 

That one-day doubling is starting to sound like a one-day wonder. In fact, Thursday”s rally didn”t extend any higher Friday. But its reaction down did hold a 61.8% corrective limit. And then closed above the same calculation”s 38.2% measurement. That”s success. Holding Friday”s low would allow extending higher to test .15. Filling the gap below first could allow a more durable rally leg to form.

Either way, it is somewhat reassuring to see enthusiasm. Enthusiasm begets enthusiasm. One company”s bullish outlook in a vacuum is irrelevant. Two companies can portend a trend. Two companies in the same category can be a watershed event.

AndI notice that VAPE popped-up 33% (which is 50% off its low) from a Double Bottom — just two days prior to MCIG”s surge. And its 61.8% retracement held, too.

Recall my comments last week, that the sector needs leadership. I had warned the prior week that GWPH and INSY were topping, and they did fall sharply the next week. Some of its sellers had bought for the pharmaceutical exposure. But those who bought for the Cannabis play are looking for somewhere to reinvest. Good news from the sector, and big pops in reaction, suggest that opportunity is alive.