Saturday Review

This weekend’s review looked closely at the bullish WedEX signal currently in-play. It’s halfway through influencing Friday afternoon and Monday morning, with specific expectations for its resolution. We also reviewed the bigger picture context of the recent rally effort.

 RECORDING LINKED HERE

The following stock requests were reviewed in this order:
SIG, HD, BLUE, AAPL, ECPG, MERC, RYCEY, WFC, ABTL, BMO, CACC, EQIX, FB, JBHT, BABA, TWTR, SBUX, TNA

02/20/2016 09:31:59 sm: good
02/20/2016 09:33:08 Mark Glezer: gm
02/20/2016 09:33:19 david b: good morning
02/20/2016 09:36:31 charlie: hi0
02/20/2016 09:46:01 MK: what about thursday (11) to friday (12) gap
02/20/2016 09:51:28 MK: IMO
02/20/2016 09:51:48 MK: 3 gaps in trending usually winds up not successfully gapping higher again without digestion
02/20/2016 09:52:05 Mark Glezer: 1940 area should be probed & rejected if the intent is to not to form a bottom around 1740?
02/20/2016 10:01:48 steve: can wedex invert or is that possibility behind us?
02/20/2016 10:03:00 MK: rod
02/20/2016 10:03:05 MK: how often have yous een
02/20/2016 10:03:06 MK: weak hands
02/20/2016 10:03:13 MK: breach a level
02/20/2016 10:03:18 MK: where strong hands take over
02/20/2016 10:03:28 MK: a la 666
02/20/2016 10:03:52 MK: good point
02/20/2016 10:05:07 Josey: SIG, HD
02/20/2016 10:06:32 MK: seriously SIG was a short when I brought it now
02/20/2016 10:06:35 MK: brought it up
02/20/2016 10:06:37 MK: not now
02/20/2016 10:07:35 MK: BLUE
02/20/2016 10:07:36 MK: AAPL
02/20/2016 10:07:40 MK: ECPG
02/20/2016 10:07:43 MK: MERC
02/20/2016 10:07:50 MK: RYCEY
02/20/2016 10:07:54 MK: WFC
02/20/2016 10:08:22 MK: (SHORT) ABTL BMO CACC EQIX FB JBHT NKE SLB
02/20/2016 10:11:36 MK: haha HD looks like the CYA trade ala DJIX
02/20/2016 10:11:55 MK: wow combined DJIA and DJX
02/20/2016 10:13:29 MK: yes
02/20/2016 10:17:58 MK: FBI/Company Shouldn’t have tried to reset the password
02/20/2016 10:18:03 MK: this would have been a non-event
02/20/2016 10:18:22 MK: http://www.pcworld.com/article/3035506/security/apple-says-terrorists-icloud-password-was-changed-remotely-while-iphone-was-in-governments-posessio.html
02/20/2016 10:20:36 Mark Glezer: BABA
02/20/2016 10:21:11 MK: I”m already long from sub 29
02/20/2016 10:21:13 MK: 20\
02/20/2016 10:21:41 MK: so looking for 25
02/20/2016 10:21:43 MK: thanks
02/20/2016 10:22:39 MK: yeah you covered it friday
02/20/2016 10:22:41 MK: no worries
02/20/2016 10:22:44 MK: i accidentally included it
02/20/2016 10:25:55 david b: KO,HD
02/20/2016 10:26:12 Mark Glezer: resuming the decline should target new lows?
02/20/2016 10:31:31 Casjf: TWTR – bottoming?
02/20/2016 10:31:49 MK: =)
02/20/2016 10:36:48 MK: BMO – seems super optimistic
02/20/2016 10:37:17 MK: get out at 55.75?
02/20/2016 10:37:33 MK: close above 54.55 ?
02/20/2016 10:38:18 MK: harumph
02/20/2016 10:39:40 Casjf: I’m surprised given the market…
02/20/2016 10:41:49 Mark Glezer: surprisingly it even got as high as it did – TWTR
02/20/2016 10:42:44 MK: if sloppy then that could be a bottom
02/20/2016 10:42:49 MK: ?
02/20/2016 10:43:54 MK: i’m just eyeing 140
02/20/2016 10:44:34 MK: man
02/20/2016 10:44:43 MK: i think general market is goin much higher
02/20/2016 10:44:46 MK: all these shorts
02/20/2016 10:44:55 MK: look like crap
02/20/2016 10:48:02 MK: ignore the last 2
02/20/2016 10:52:56 MK: man i’m going to be getting out of a lot of shorts on monday =)
02/20/2016 10:53:34 MK: good point
02/20/2016 10:53:38 MK: thanks for the insight
02/20/2016 10:53:50 MK: i appreciate it
02/20/2016 10:54:06 MK: oh
02/20/2016 10:54:08 MK: SBUX
02/20/2016 10:54:08 MK: sorry
02/20/2016 10:54:10 MK: last one
02/20/2016 10:54:12 MK: SBUX
02/20/2016 10:54:14 MK: yes
02/20/2016 10:55:09 MK: get off the pot
02/20/2016 10:55:10 MK: ok
02/20/2016 10:55:11 MK: thanks
02/20/2016 10:55:37 MK: i mean 58?
02/20/2016 10:59:20 Josey: Ty!
02/20/2016 10:59:21 Mark Glezer: thx much
02/20/2016 10:59:28 Casjf: thanks!
02/20/2016 10:59:49 charlie: TKS

“When you come to a fork in the road, take it.”

That’s where the market is, and that’s just what it might do… start trending in one direction and then reverse. Or, it might simply collapse, still being in the orbit of recent lows, with a bigger decline still ongoing. We discuss that in this weekend’s Saturday Review, recording, while also addressing attendee questions and comments.

 GET RECORDING HERE

The following stock requests were reviewed in this order:
LOW, HD, AAPL, GILD, CSCO, GDX, WMT, CAT, DD, FEYE, FIT, DUK, GOOGL, SC, PRAA, LNKD, DATA, VZ, T, OAK, NSC, ABTL, CACC, CLX, FB, SIG, SLB, DDD, IONS

02/06/2016 09:29:52 William: gm
02/06/2016 09:30:14 sm: 5×5
02/06/2016 09:30:26 casjf: gm
02/06/2016 09:30:39 David B: good morning
02/06/2016 09:31:49 Bill G: gm
02/06/2016 09:31:55 Mark Glezer: gm
02/06/2016 09:31:56 casjf: yes
02/06/2016 09:31:58 charlie: hi0
02/06/2016 09:31:58 tom: good morning
02/06/2016 09:32:00 William: yep all clear
02/06/2016 09:49:07 MK: or lack of news
02/06/2016 09:49:17 MK: everyone is positioning for a yuan deval
02/06/2016 09:49:22 MK: if it doesn’t happen
02/06/2016 09:49:28 MK: we might rally hard
02/06/2016 09:49:31 William: Interesting , I thought the market was reading for a capitulation….
02/06/2016 09:53:02 MK: also wasnt’ the 2/3 low optimistic from the 1/27 low?
02/06/2016 09:54:07 David B: the fact that sellers did not take control on Friday is there any correlation in any of the indicees outperform/undrperform. The dow on fri outperformed
02/06/2016 09:54:25 David B: underperform
02/06/2016 09:55:03 David B: the dow on fri outperformed
02/06/2016 09:57:14 (Private to Presenters) – tom: Rod I sent a couple of new prospects to you just wanted to let you know
02/06/2016 10:00:22 MK: why is 1/14 not part of the disucssion
02/06/2016 10:03:33 William: But if we dropped overnight you always say it doesnt count. So opening around 1880 would have more strenght ?
02/06/2016 10:05:14 MK: i used jan 14 moves
02/06/2016 10:05:17 MK: as basis for a lot of my calc
02/06/2016 10:06:29 William: k
02/06/2016 10:08:07 MK: the jan 14 move from 1875ish to 1925ish
02/06/2016 10:08:11 MK: has been relevant in my calcs
02/06/2016 10:08:13 MK: for levels
02/06/2016 10:08:43 MK: yes
02/06/2016 10:08:51 MK: and its low
02/06/2016 10:08:58 MK: you were talking about the other lows
02/06/2016 10:09:02 MK: as relevant
02/06/2016 10:09:05 MK: and you didn’t include it
02/06/2016 10:09:07 MK: as a low
02/06/2016 10:09:10 MK: and i was wondering why
02/06/2016 10:09:15 MK: yes
02/06/2016 10:09:30 MK: just curious as to why you omitted it
02/06/2016 10:09:32 MK: academic question
02/06/2016 10:10:00 MK: ok
02/06/2016 10:10:02 MK: interesting
02/06/2016 10:10:02 William: because the trend channel only starts after ? Wasn’t the reason?
02/06/2016 10:10:02 MK: thanks
02/06/2016 10:10:34 MK: trying to understand why i gravitate to stuff that you don’t find as influential
02/06/2016 10:10:38 MK: and stopping it
02/06/2016 10:10:56 Mark Glezer: is pessimism around 1924 has any influences?
02/06/2016 10:11:17 Mark Glezer: does it have I mean?
02/06/2016 10:12:04 sm: I’ve been anticipating a retest/probe of 1850, especially after Mon failed to confirm the attempted break higher. I think that you said this scenario is ‘1b’. It wasn’t clear to me in your comments whether you have a reason to discount the maket’s ability to launch a more successful rally attempt once a break below the range proves to be false (it recovers back into the range and then up through it)?
02/06/2016 10:12:45 William: no the one on the other chart is clearer
02/06/2016 10:13:02 William: yes sorry
02/06/2016 10:13:42 MK: apologies for the digression, but it helps me a lolt to have these discussions
02/06/2016 10:15:20 sm: So a corrective bounce can’t happen now?
02/06/2016 10:15:33 William: MK – I found it great to be able to learn and express our ideas. And thanks Rod :)
02/06/2016 10:15:35 Mark Glezer: gapping down Mon is likely to bounce to Fri range first or it would depend on how deep?
02/06/2016 10:15:51 tom: so if 1850 is broken then you woulx pect pretty quick descent to 1805
02/06/2016 10:16:10 sm: So then a probe of 1804 is required before seeeing 1950 and higher?
02/06/2016 10:16:14 tom: would expect
02/06/2016 10:16:19 David B: if we get past 1796-1798 what levels beyond that can you see?
02/06/2016 10:16:43 Bill G: Why not a simple .618 of the 1804/1940 be a refueling of buyers?
02/06/2016 10:17:53 Bill G: Seem like it would trap bears
02/06/2016 10:18:01 sm: So then what is the scenario that accomplishes the higher highs that you projected?
02/06/2016 10:22:11 David B: 1465 capitulation?
02/06/2016 10:22:48 MK: monday?
02/06/2016 10:22:52 MK: 1465
02/06/2016 10:22:55 sm: :)
02/06/2016 10:23:01 MK: =)
02/06/2016 10:23:19 William: come on, you are better thant that :)
02/06/2016 10:23:59 sm: That’s sort of my thought too, Bill.
02/06/2016 10:25:43 David B: will oil be a major player you think play out in the different scenarios you have pointed out?. It seems like during the day when the market turns its related to the price of oil.
02/06/2016 10:29:29 Bill G: ok. I think a failure of the 1865 area that reverses and rallies hard above 1950 would get the most people bullish at the wrong time before a significant decline.
02/06/2016 10:29:54 MK: re: OIL
02/06/2016 10:30:02 sm: I agree Bill. I just can’t get a clear read if that’s what Rod is saying too.
02/06/2016 10:30:11 MK: rod i read somewhere that we are about 6-9 months from a storage disruption
02/06/2016 10:30:12 ljr mobile: can u go over the automatic buy of productive bounce limit being revisited
02/06/2016 10:30:18 MK: and while improbable
02/06/2016 10:30:20 MK: if that happens
02/06/2016 10:30:22 MK: single digit oil
02/06/2016 10:31:21 tom: hes cut was the first to cut there dividend this week and as soon as they did oil reversed
02/06/2016 10:32:47 MK: When you run out of tanks to sore the oil
02/06/2016 10:33:15 MK: thats what i said
02/06/2016 10:33:24 MK: single digit oil
02/06/2016 10:34:15 ljr mobile: ok
02/06/2016 10:34:37 ljr mobile: no prob I’m driving right now
02/06/2016 10:34:51 David B: when you have down or up days where buyers/sellers gain traction can these be weak buyers or sellers or are they always strong hands?
02/06/2016 10:35:01 MK: I”m more than willing to talk tactics while its happening
02/06/2016 10:35:28 David B: yes
02/06/2016 10:35:42 tom: can you look at LOW,HDGOOGL
02/06/2016 10:36:09 MK: I have to go so stocks
02/06/2016 10:36:40 MK: LONG (AAPL GILD SC PRAA OAK NSC)
02/06/2016 10:36:59 MK: SHORT (ABTL CACC CLX CP FB SBUX SIG SLB)
02/06/2016 10:37:06 MK: dont’ feel that you need to cover them all
02/06/2016 10:37:07 William: CSCO
02/06/2016 10:37:11 MK: just a brain dump
02/06/2016 10:37:28 David B: GDX,WMT
02/06/2016 10:45:47 Josey: CAT, DD
02/06/2016 10:46:52 tom: thx
02/06/2016 10:48:14 ljr mobile: FEYE, FIT…curios about LNKD, DATA… no positions in any
02/06/2016 10:54:53 casjf: DUK I sold, so now it’s up ;)
02/06/2016 10:55:19 casjf: still think it’s going down with the ship?
02/06/2016 10:57:43 David B: VZ,T
02/06/2016 11:26:48 Josey: ddd
02/06/2016 11:30:41 casjf: IONS
02/06/2016 11:33:38 Josey: Great session, TY!
02/06/2016 11:33:45 David B: thanks
02/06/2016 11:33:51 William: Many thanks, great seesion
02/06/2016 11:33:57 casjf: thanks!
02/06/2016 11:34:18 Mark Glezer: thx

We had tested a new chaRTroom platform several times during the week, and then used it exclusively for this weekend’s session. The room limitation was not met but some subscribers were denied access anyway. We’ll continue using Anymeeting until that and any other issues are resolved.

MP4 Recording

The following stock requests were reviewed in this order:
GOOGL, GDX, AAPL, AMZN, DDD, SIG, CAT, CFX, PANW, DD, GDXJ, RGLD, DVA, HCA, NKE, SLB

8:27 Rod     test rod 1
8:27 Rod_1     test rod 2
9:02 Steve     Looks good on desktop, unfortunately when I tried to log in on an ipad I got a message that screen sharing is not supported on mobile platforms.
9:16 Bill G     was unable to use on my xp machine. Seems fine on this one.
9:19 Rod David     I’m running it on XP right now on another machine
9:19 Rod David     I’ll find out about iPad, the product claims to be compatible
9:22 Bill G     What browzer are you using on your xp?
9:23 Rod David     Firefox
9:25 Bill G     ok, for today, I’ll use this machine and put firefox on the xp. I have IE
9:26 Rod David     Let me know the result
9:27 Bill G     good
9:33 M_K     test
9:33 David B     Good Morning
9:34 M_K     Did we figure out about Mute?
9:34 David B     does it work on ipad?
9:34 M_K     no
9:34 Josey     no
9:35 M_K     Rod, I still can’t mute you
9:36 M_K     thats kind of a big deal for me
9:37 M_K     OH sweet
9:37 M_K     windows 10
9:37 M_K     i just figured it out
9:37 M_K     how to mute just the program
9:37 M_K     only if you have windows 10
9:37 M_K     lower right corner
9:37 M_K     there is an audio icon
9:37 M_K     click on it
9:38 M_K     you wind up with a selector for different programs and the audio
9:38 M_K     is listed as “chartroom meeting”
9:38 M_K     and i muted it
9:38 M_K     and my system sounds worked
9:39 M_K     i think the statistic was
9:39 M_K     of all the fridays in december/jan
9:39 M_K     70% of them have been 2% moves or more
9:55 David B     nasdaq has been underperfoming does this mean if we are going to 1969 will need to ourperform?
9:55 David B     outperform
9:59 David B     GOOGL,GDX
9:59 M_K     AAPL
9:59 M_K     AMZN
9:59 M_K     CAT
9:59 Josey     DDD, SIG
10:00 M_K     CFX
10:00 David B     GOOGL earnings on mon. going in on strength?
10:00 Josey     PANW, DD
10:01 M_K     FB
10:01 M_K     Josey: i was looking at PANW as well
10:01 Josey     Short
10:03 Bill G_1     fyi, my xp is good with firefox.
10:03 M_K     RE: GDX has a HUGE allocation to RGLD
10:03 M_K     which is down 30+%
10:03 M_K     on issues with a large royalthy contract they have
10:04 M_K     so GDX isn’t a real good value
10:04 M_K     look at GDXJ
10:11 Bill G     Friday had stocks, bonds, dollar and gold all up. It would seem at least one of those is wrong?
10:12 Josey     Both
10:12 Josey     both
10:13 M_K     DVA
10:13 M_K     HCA
10:22 M_K     yes
10:22 M_K     CFX
10:24 M_K     Rod you are on the Weekly
10:24 M_K     not the daily
10:24 M_K     !!!
10:24 M_K     rod
10:24 M_K     you are using the weekly chart
10:24 M_K     buy
10:34 M_K     yes
10:34 M_K     they do Dialysis
10:34 M_K     dialisys
10:34 M_K     wow
10:34 M_K     i’m brain
10:34 M_K     my brain
10:34 M_K     i can’t spell
10:34 M_K     or type
10:39 Josey     Thank you!
10:39 M_K     OH
10:39 M_K     NKE
10:39 M_K     sorry
10:39 M_K     NKE
10:39 M_K     and SLB
10:39 M_K     and i’m done
10:43 M_K     grrr
10:43 M_K     ok
10:43 M_K     i’ll bail on it
10:43 M_K     have a good weekend
10:44 Bill G     Have a good one
10:44 David B     thanks