Saturday Review

What is the “unfinished above”? What can override its attraction? What might intervene first? How much of a detour would no longer be a detour? These broader market questions and others were discussed in detail during this weekend’s Saturday Review.

 MP4 version   ||   ilinc version

The following stock requests were reviewed in this order:
AIG, C, CSCO, M, CTRP, FIT, UTX, BAC, GS, AZO, NVDA, ORLY, Gold

11/07/2015 09:32:14 SM: audio good
11/07/2015 09:32:20 Mark Glezer: gm
11/07/2015 09:32:37 David B: good morning
11/07/2015 09:51:13 Mark Glezer: no longer looking for 2110-13-17 area to be vulnerable to reacting down?
11/07/2015 09:53:05 Mark Glezer: if we gap up & head higher
11/07/2015 09:54:47 David B: what SPX close with a second consective close would be a trend change and higher highs is off the table?
11/07/2015 09:58:42 Mark Glezer: I know one day is not indicative of a pattern but do u think that a flat ES close after a major news like Fri report while NDX & DOW were positive might indicate that the mkt is not ready to turn down?
11/07/2015 10:00:41 ljr: stocks: aig,c,fit,utx. (I am long), thx I will watch recording later
11/07/2015 10:04:00 Mark Glezer: yes
11/07/2015 10:04:27 Mark Glezer: sure
11/07/2015 10:04:30 ljr: stock: nvda if u have time. no positions in it
11/07/2015 10:06:41 Mark Glezer: u’re right, just seemed like the crowd’s sentiment but not very relevant
11/07/2015 10:08:41 David B: CSCO,M
11/07/2015 10:09:02 tom: ctrp
11/07/2015 10:14:41 David B: BAC,GS
11/07/2015 10:14:52 tom: azo
11/07/2015 10:15:43 SM: Reference your comment about Citi, where you find reason to question further upside potential because recent price appreciation hasn’t been accompanied by improving volume…Isn’t that same observation true about the broader market? Shouldn’t there be a similar reason to doubt the broader market’s ability to achieve higher highs for the same reason?
11/07/2015 10:15:46 David B: earnings on CSCO. going in on strength?
11/07/2015 10:16:21 David B: CSCO earnings on thursday
11/07/2015 10:18:45 David B: M earnings on wed
11/07/2015 10:22:16 tom: reports on wed
11/07/2015 10:25:07 tom: ok thx
11/07/2015 10:30:03 tom: AZO
11/07/2015 10:33:44 Josey: Sign rates will not be raised?
11/07/2015 10:36:14 tom: ORLY as well if you have time
11/07/2015 10:39:26 Josey: Gold has now dropped so much, is it due for a pop? Any low major target?
11/07/2015 10:48:05 Josey: So no 100 + point drop next?
11/07/2015 10:52:52 Josey: TY
11/07/2015 10:52:53 Mark Glezer: SM’s Q above
11/07/2015 10:52:58 David B: thanks
11/07/2015 10:53:21 tom: THANK YOU
11/07/2015 10:53:51 Mark Glezer: thx much
11/07/2015 10:54:53 Bill G: Almost 2x nyse issues below 200dma than above 200dma
11/07/2015 10:55:53 SM: Excellent webinar today. Exceptionally informative, instructional, and clearly articulated. I lost count on the number of benefcial takeaways gained. Thanks much.

Another objective met by the rally. Is it only a correction of August’s plunge, intending to resume the bear market? Would probing new highs change that scenario? What would put into play new highs? These questions were addressed, and more, including observations and questions among attendees.

 MP4 version   ||   ilinc version

The following stock requests were reviewed in this order:
BIDU, BABA, AAPL, DIS, GG, MHG, FB, SCTY, BLK, GLPI, VRX, CBI, DVA, X, UA, PANW, ABTL

10/31/2015 09:31:22 Steve: gm
10/31/2015 09:31:24 Josey: All good
10/31/2015 09:31:25 Rod David: Testing?
10/31/2015 09:31:27 SM: good
10/31/2015 09:31:32 David B: Good Morning
10/31/2015 09:32:56 Mark Glezer: gm
10/31/2015 09:37:47 SM: Why is 2094 NOT a Globex Trend Extreme (which requires retest)?
10/31/2015 09:39:33 Mark Glezer: retracement of FOMC within a week is a requirement this time?
10/31/2015 09:56:18 Mark Glezer: lower prior high u mentioned under 2050 & prior low indicating the end of the corrective leg around 2010?
10/31/2015 09:56:46 MK: there was a super interesting comment from someone
10/31/2015 09:56:55 MK: regarding a year end ramp
10/31/2015 09:57:01 MK: similar to 1972
10/31/2015 09:57:30 MK: when people rallied behind the “Nifty Fify” big cap stocks that were “One Decision” = buy em and forget em
10/31/2015 09:57:56 MK: and everything fell apart
10/31/2015 09:58:32 MK: but he’s saying hes not 100% on a straight up ramp, but a prolonged rally as the “paid-to-play” are worried about Year end positioning
10/31/2015 09:58:55 MK: IE a client asking “why don’t you own MCD, NKE, MSFT, AMZN, GOOG”
10/31/2015 09:59:05 MK: so they are worried
10/31/2015 09:59:14 MK: and he thinks the only thing stopping the market doing this
10/31/2015 09:59:36 MK: is a legitimate news event that the robots and the “paid to pay” people can acnowledge as major
10/31/2015 10:00:37 MK: IMO. I think that the first couple weeks of NOV will let us know as most funds fiscal were end of Oct so either that theory has played out, or it will continue to prodive a bid into year end
10/31/2015 10:00:54 Mark Glezer: spoke to my friend, portfolio manager at a hedge fund on Wed. He is expecting a huge move down to happen soon but not necessarily this week, likely the next one
10/31/2015 10:01:56 MK: Mark, the positioning and bids i see in SKEW indicate there are large players that coincide with your friends theory
10/31/2015 10:02:17 Mark Glezer: :)
10/31/2015 10:03:22 ljr: stocks: bidi, baba, fb, scty, vrx ( no positions , looking for short or long entries except vrx just watching that show)
10/31/2015 10:03:34 ljr: sorry bidu
10/31/2015 10:04:15 David B: and options on 11/20
10/31/2015 10:04:48 David B: yes
10/31/2015 10:06:02 David B: AAPL,DIS
10/31/2015 10:06:37 MK: GG
10/31/2015 10:07:41 MK: MHG
10/31/2015 10:08:23 MK: BLK
10/31/2015 10:09:01 MK: GLPI
10/31/2015 10:09:10 MK: CBI
10/31/2015 10:09:29 MK: DVA
10/31/2015 10:09:35 MK: PANW
10/31/2015 10:09:52 MK: ABTL (SHORT)
10/31/2015 10:16:50 David B: dis earnings this week. is it not going in on strength?
10/31/2015 10:19:43 MK: that was earnings
10/31/2015 10:19:47 MK: for Goldcorp
10/31/2015 10:19:56 MK: they did a weird restructuring of an asset
10/31/2015 10:20:02 MK: that had no real negative
10/31/2015 10:20:09 MK: effect other than accounting
10/31/2015 10:20:47 ljr: will watch recording for stocks. thx
10/31/2015 10:22:46 MK: sweet call btw
10/31/2015 10:22:50 MK: got out a bunch at 13.75
10/31/2015 10:24:12 MK: any higher targets?
10/31/2015 10:24:19 MK: or shoudl i just call it a good trade
10/31/2015 10:25:16 MK: meh
10/31/2015 10:25:22 MK: not really good enough
10/31/2015 10:25:25 MK: i pare somre more off
10/31/2015 10:31:29 MK: yes
10/31/2015 10:31:39 MK: ok
10/31/2015 10:36:42 MK: I just bougth at 44.75
10/31/2015 10:37:15 MK: is extending higher
10/31/2015 10:39:50 David B: X,UA
10/31/2015 10:46:39 David B: i think a reaction
10/31/2015 10:48:34 Mark Glezer: anything interesting among major indexes?
10/31/2015 10:50:43 David B: UA earnings was on 10/22
10/31/2015 10:50:52 David B: can you go back for a minute
10/31/2015 10:51:12 MK: i’m short from 22
10/31/2015 10:52:48 Mark Glezer: k thx
10/31/2015 10:53:19 David B: no
10/31/2015 10:54:14 Mark Glezer: any specific down target on UA?
10/31/2015 10:54:31 Mark Glezer: k
10/31/2015 10:54:57 MK: have a good weekend
10/31/2015 10:55:00 Mark Glezer: thx much
10/31/2015 10:55:07 David B: thanks

Last week’s rally produced a breakout that was confirmed, requiring at least one more higher close before a trend reversal can be considered seriously. How much higher, and how to invalidate it, were addressed during the broader market discussion during this week’s Saturday Review. There was an awesome stream of questions from subscribers, as well.

 MP4 version   ||   ilinc version

The following stock requests were reviewed in this order:
AAPL, LINKD, HOG, PII, CYBR, ABTL, RH, BIDU, BABA, VC, GM, GG, IBKR, MHG, NXPI, PAAS

10/24/2015 09:22:16 SM: good
10/24/2015 09:22:18 steve: yes
10/24/2015 09:22:21 Mark Glezer: gm
10/24/2015 09:29:41 MK: good morning
10/24/2015 09:31:18 David B: good morning
10/24/2015 09:31:28 Josey: GM
10/24/2015 09:31:29 Charles Daniel: GO ROYALS
10/24/2015 09:48:55 Mark Glezer: tech earnings on Thu were good offsetting a negative sentiment of misses among other sectors like financials etc. Do u think it’s already priced in or may help NDX further and be an obstacle for ES to reverse down?
10/24/2015 09:53:43 SM: Is the market still maintaining the ‘correction’ paradigm? If we compare recent price action to the Feb – Aug topping pattern (i.e., a fractal), is the currrent rally akin to the brief break higher that we were watching for in July and Aug? Is the ultimate resolution to this current rally the same – an aggressive move lower to new yearly lows?
10/24/2015 09:54:38 steve: when you look at the other indexes please also look at RUT
10/24/2015 09:55:05 David B: With the market now up for the year do you think money mangers will be chasing performance this week since mutual funds usually close their books at the end of oct. meaning are alot of them down on the year?
10/24/2015 09:55:52 MK: David I think thats what this is
10/24/2015 09:56:37 David B: MK That is my feeling also
10/24/2015 09:57:29 Tom: can you look at aapl,lnkd
10/24/2015 09:57:33 Bill G: What can invalidate 2088 with a third higher close less than 2088 ?
10/24/2015 09:58:51 David B: two consecrive closes below 2024 will indicate we are back to at least test 1980?
10/24/2015 10:00:25 Mark Glezer: u mentioned 3 ways to reverse down but only showed 2 of them from 2088 or a new high. What is the 3rd way?
10/24/2015 10:01:27 Mark Glezer: just reversing from a flat open perhaps without getting to 2088?
10/24/2015 10:04:11 David B: I mentioned this last week is this similar to 2011. has this changed by this week rally? . I think there was a 10% drop into the end of the year?
10/24/2015 10:04:12 Bill G: A trend change still does nor negate 2088 ?
10/24/2015 10:04:45 MK: IMO if i had OPM I’d be betting on SPX 2100 next week
10/24/2015 10:04:50 steve: should 2055 now provide support on a modest pullback?
10/24/2015 10:06:47 Mark Glezer: k
10/24/2015 10:08:15 David B: has big money changed their opinion or has this rally been on central banks and short covering?
10/24/2015 10:09:01 MK: HOG
10/24/2015 10:09:01 MK: PII
10/24/2015 10:09:06 MK: ABTL
10/24/2015 10:09:08 MK: RH
10/24/2015 10:09:10 MK: VC
10/24/2015 10:09:13 MK: GM
10/24/2015 10:09:20 MK: (All Are Shorts)
10/24/2015 10:09:33 MK: GG
10/24/2015 10:09:34 MK: IBKR
10/24/2015 10:09:39 MK: MHG
10/24/2015 10:09:44 MK: NXPI
10/24/2015 10:09:47 MK: PAAS
10/24/2015 10:09:50 David B: 2011 q. drop in aug folowed by rally and retest of lows and then rally look like similar patterns
10/24/2015 10:10:07 MK: (Last 5 are longs)
10/24/2015 10:10:23 Bill G: What is relevent unfinished business below?
10/24/2015 10:10:23 MK: well the correction was pretty sever
10/24/2015 10:10:24 MK: e
10/24/2015 10:10:34 MK: it makes sense the rally would be equally as severe
10/24/2015 10:10:40 MK: given the robots are in charge
10/24/2015 10:12:39 David B: anytime we get to an inflection point where it seems the market is heading down big something like central banks and come in. is this what you be referring to the bar tab at some point we need to pay?
10/24/2015 10:13:51 Mark Glezer: do u think the buyers who missed the Spring distribution and bought there maybe smarter if we get to that level again & become sellers?
10/24/2015 10:18:05 Bill G: Both Fed & BOJ this wk to make things interesting
10/24/2015 10:19:59 David B: are you saying we are only in a correction and not a bull market because it takes time to go from one to another?. what would change we were in a bull market?
10/24/2015 10:20:11 MK: Wasnt’ Rubin the Clinton Administration?
10/24/2015 10:21:11 MK: (TinfoilHat) Clinton did more to establish manipulative and distortionary policy and set the prescident going forward. Doesn’t surprise me that Rubin was so effective…..(/TinFoilHat)
10/24/2015 10:21:52 David B: i mean from a bear market to bull market
10/24/2015 10:24:58 Bill G: I’ m still curious if post ecb decline after Mon takes place.
10/24/2015 10:25:34 MK: Rod…… Hedonics?
10/24/2015 10:25:42 MK: i mean thats pure brilliance
10/24/2015 10:26:06 David B: SBUX,X
10/24/2015 10:26:29 SM: Sorry to bring you back to this point, but what you just said seems to contradict – Earlier you said that getting above 2088 is one of the paths to reversing down…not starting a bull market.
10/24/2015 10:27:04 Mark Glezer: is there a pattern to retrace ECB reaction within a week similar to Fed?
10/24/2015 10:28:49 SM: thx
10/24/2015 10:29:17 Bill G: There was always a rally into ecb in 2015
10/24/2015 10:29:50 Tom: aapl
10/24/2015 10:31:03 Tom: aapl reports after the bell on Tues
10/24/2015 10:32:17 steve: RUT
10/24/2015 10:33:11 Tom: no splits
10/24/2015 10:33:30 MK: OH One More anedote for this market and the PE bubble that exists in Tech. Someone got 500K in seed funding for ……. Get this……. Tinder for Threesomes
10/24/2015 10:33:47 MK: grrr. bad spelling ANECDOTE
10/24/2015 10:35:08 Tom: thx
10/24/2015 10:35:21 Josey: CYBR/Short
10/24/2015 10:36:10 MK: ok yeah i covered a bit here
10/24/2015 10:36:12 MK: will cover more
10/24/2015 10:36:19 MK: and reshort strength
10/24/2015 10:36:37 MK: Took A LONG TIME
10/24/2015 10:36:39 MK: hahah
10/24/2015 10:37:05 MK: Rod’s been saving me money shorting polaris since 2013
10/24/2015 10:44:07 Bill G: The current close on NYA is third lower high on McClellan Osc
10/24/2015 10:49:26 Mark Glezer: RSI neg on RUT
10/24/2015 10:49:48 Tom: ok thx
10/24/2015 10:50:34 MK: probably because there was no software
10/24/2015 10:50:35 MK: just the idea
10/24/2015 10:50:36 MK: got 500k
10/24/2015 10:54:23 MK: RH: Lets just say i’ve been short from 100 for awhile now
10/24/2015 10:54:44 MK: d’oh
10/24/2015 10:57:46 MK: man
10/24/2015 10:57:53 MK: you are really killing my short ideas
10/24/2015 10:59:09 MK: yeah i really like it
10/24/2015 10:59:40 MK: ok
10/24/2015 10:59:48 Tom: bidu
10/24/2015 11:00:37 MK: ok
10/24/2015 11:01:21 Mark Glezer: baba
10/24/2015 11:03:59 Mark Glezer: k
10/24/2015 11:09:08 Mark Glezer: thx much
10/24/2015 11:09:22 MK: have a good weekend
10/24/2015 11:09:24 Bill G: thanks
10/24/2015 11:09:26 MK: See you at 2100
10/24/2015 11:09:28 Charles Daniel: TKS
10/24/2015 11:09:32 Josey: TY