Bigger Picture

Today”s Livestock has turned into an Unlimited, staring at 4:30 ET, linked here:
http://tinyurl.com/Livestock-link

A blog post detailing Livestock requirements is available here:
http://tinyurl.com/Livestock-requirements

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

I”ll post the recording”s link when available.

Today”s Livestock has turned into an Unlimited, staring at 4:45 ET. I”ll post a reminder before it begins, and will include access instructions.

This historic market performance continues today, with indexes already indicated to gap down to new lows. There isn”t any reason to suspect that this might be a confused market. The only question is whether this morning”s gap down has gotten too far ahead of the ongoing decline to be sustained.

We”ll give a recovery the benefit of the doubt if yesterday”s range is actually being probed no later than one hour into the session. Otherwise, the likelier alternative is that today brings “capitulation,” i.e. gapping down and trending down sharply.

This is not the most appropriate time to be “bottom-fishing” or “knife-catching.” If trying to buy, please take a moment to post the idea to this thread in the Activity Feed so I might offer price levels to consider. Most of all, trade safely, which sometimes means not to trade at all!

Monday”s Livestock recording was linked previously. Following are summaries of the stocks reviewed… P.S. The MP4 recording facility is now operational, so members will have an additional choice in playback formats.

FITX, This leg is still targeting .02, but not necessarily immediately. Regardless, Monday”s drop is the first break from the recent trading range, so a second confirming lower close Tuesday (or not) will be informative.
STEV, The ongoing delay in breaking above the .10 buy signal has kept the stock vulnerable, and it dipped Monday. The range”s lower-end at .08 must hold if tested.
MINE, Noted recently that the ascending triangle pattern was not bullish in this stock. Probing new lows Monday is not an anomaly.
VPOR, Recent oversold bounce poster-child has fully retraced to its low, which must now probe new lows before considering a bottom to have formed.
VAPE, Extending its decline, won”t be bullish very soon.
ATTBF, Monday”s fresh lows raises the buy signal to .31 until an accumulative pattern forms, or until a probe of fresh lows (to .17?) is rejected.
TAUG, Recent unconfirmed break lower was never rejected, and is now trying to extend the decline, which can be invalidated only by recovering .0202.
HEMP, Another recent poster-child for oversold bounces, under .025 would target new lows.
MCIG, Dipping to .24 already suggested the upside had ended. Dipping under .24 Monday confirmed the “V” bottom should now be probed by a new low.
GWPH, Met its 68.70 target Monday, while also filling the second consecutive gap, a potential low with room for noise down to 65.
INSY, Upside momentum appears to be broken, wouldn”t try shorting since the accumulation patterns have been impressive. Looking for new buy signal.
NLNK, Room to fluctuate as noise without yet signaling rally underway, but a bounce to 25.40 would be possible in even the most bearish scenario.
EDXC, Prime candidate to attract more tax loss selling that continues depressing price.
TRTC, Above .36-.38 would suggest the bottom is in, but otherwise likely to test .24. Monitoring the potential for a higher low into late-Oct/early-Nov for early January Effect rally.
TKMR, Must close above 24.50 to signal this pullback had ended.
LAKE, Would not be short above 21.95.

We spent today”s first several minute of Livestock revisiting the January Effect concept. Not yet as an opportunity, but to note at least one source of the downward pressure being applied to the sector. The recording is linked below, followed by the list of stocks discussed in order (summaries will come later today).
https://roddavid10.mitel-nhwc.com/join/xmjkhyw

FITX, STEV, MINE, VPOR, VAPE, ATTBF, TAUG, HEMP, MCIG, GWPH, INSY, NLNK, EDXC, TRTC, TKMR, LAKE