Bigger Picture

(Here”s the Flash file link) This morning”s Livestocks session was cut short to only about a half-hour due to technical difficulties. But we had plenty of time to discuss the Symmetrical Triangle chart pattern, and the concept of Discounting the Elections.

We discussed the following stocks: HEMP, VPCO, VPOR, MCIG, CBIS, GBLX, ERBB, VAPE… Stocks I”ll be commenting on in this post”s thread include: SCLN (toppy?), FLEX (buy parameter?), CARA (buy parameter?) and CLF (next resistance?).

Share your best idea for a Halloween costume.* Adults, couples, kids, pets… Be sure to reference an age bracket where appropriate, so we don”t think you”re kind of creepy.

(*Sorry, I”ve already called dibs on the couples costume: Pot plant, and Anheiser-Busch can, i.e. best buds)

Here”s the Flash file link to this morning”s Livestocks session. It was cut short to only about a half-hour due to technical difficulties. But we had plenty of time to discuss the Symmetrical Triangle chart pattern, and the concept of Discounting the Elections.

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

We discussed the following stocks: HEMP, VPCO, VPOR, MCIG, CBIS, GBLX, ERBB, VAPE… Stocks I”ll be commenting on in this post”s thread include: SCLN (toppy?), FLEX (buy parameter?), and CARA (buy parameter?).

While awaiting the MP4 version being uploaded now, share your best idea for a Halloween costume. Adults, couples, kids, pets… Be sure to reference an age bracket where appropriate, so we don”t think you”re kind of creepy.

Livestock starts at 11:00am ET. Login info:
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https://roddavid10.mitel-nhwc.com/join/pcxsrhm

optional teleconference instructions (required for iPad and tablets):
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http://marketfy.com/product/stock-technical-trade-alerts/blog/1143/view/60141/

Today”s one thing is, “Hoo-boy.”

Remember that stock market high back in September, way back on September 18? No, wait September 19. That was it, September 19.

You could be forgiven for forgetting. A four-week long drop followed it pretty quickly. Half of the drop”s loss was produced during its last week.

The past 2-1/2 weeks have trended straight up. Not in a straight line actually. Well, yah, pretty much a straight line up. There was no time to think of vague prior highs, not with the memory of recent lows still so clear. Especially not when the focus is on the Fed shutting off its liquidity spigot that has produced the multi-year bull run.

Anyway, I have news. As if the recent rally wasn”t already packed with big up-days, now it can include a big up-night. Thanks to the Bank of Japan not following the Fed”s lead — and expanding its own QE program — last night”s trading surged through September”s prior high. Dow futures were ahead more than 240 points at their high.

Hoo-boy.

How many investors were so recently thinking for the umpteenth time, if only they had the opportunity to sell that they had had just a couple of weeks earlier. Well, wish come true, right? 

If you think this sudden return to those price levels will remind them of their earlier sentiment… you may be right, about some of them. It”s a little more complex than that. Those who sold nearer to the bottom probably haven”t yet bought back, and those who held firmly probably already added.

Monitor the opening hour, at least its end. Comparing it to the opening levels should give an accurate impression for how this sudden paradigm shift of new highs is going to be accepted. Or, rejected.

Filter THIS! …is a missive that tells you one thing, the most important thing, if you had to filter your view of today”s marijuana stocks price action through just one thing — okay, sometimes two — what would that one thing be?

The MP4 video of this morning”s Livestock is linked above. Here”s the Flash version of this morning”s Livestock.These are the stocks reviewed, and in order:
CARA, Today”s favorable reaction to news has created a gap up from a basing pattern that could form a durable low if filled, so I”m adding it to my January Effect candidates.
CBIS, Closing above .08 would reinforce the bullish influences, but pullbacks must hold .066.
GBLX, Closing under $1 today after having probed above it for two consecutive days would suggest at least a near-term top is in.
VAPE, Still must close above 1.43 and 1.75 to confirm momentum is pointed up.
MDBX, Described how its qualifications as a January Effect candidate should be observed elsewhere for clues.
VPCO, Must recover 2.66 on expanding volume to avoid at least a corrective dip.
TRTC, No second consecutive higher confirming close yet, so be careful into current events.
MCIG, Closing above .28 would suffice for triggering new upleg.
STEV, Not yet bearish since volume is contracting, but wouldn”t buy weakness.
CNAB, Doubled, so should triple.
NFLX, Should hold 367-368 support for optimal confirmation the 404.45 minimum objective above remains intact.
FB, Intraday reaction down to earnings is a 61.8% retracement of the last upleg, further suggesting a retest of the highs.
CLF, Reviewed January Effect candidacy, next targeting 14.95 and 23.
CELG, Reviewed the chart.
TASR, above 16.35 would target 21.75.