KEEP THIS MESSAGE HANDY!!! Following
KEEP THIS MESSAGE HANDY!!!
Following is a summary of relevant posts I”ve made in the Activity Feed. Be sure to ask there for opinion on others. The only one I”m surprised not to have been queried about is MCIG breaking lower, although we”ve been prepping for quite awhile on the significance of .21-.22 and .28.
Also, I”m experiencing some technical difficulties uploading to the site. In case you can”t access immediate information that you”re depending on, go immediately to RodDavid.com for updates. Keep this message or that URL handy! Meanwhile, we now have a portfolio for the January Effect candidates, which will be updated shortly.
TWMJF — This was from Wednesday”s Livestock notes: “closing today above 2.26-2.36 would signal the dip is probably only temporary”. That wasn”t accomplished, so the break gets a benefit of the doubt for having reversed the trend back down near-term. Thursday”s second consecutive lower close (in Canada) suggests there must be a third lower close, too.
Crude Oil”s extended drop is having an effect on many stocks in the sector. Although many of their distributive patterns had been fulfilled already, their tax loss selling pressures may be resuming with the lower valuations of their underlying commodity. I”m still bullish on their potentially having overly-discounted the future environment, but want to give this news a day to digest. Ditto, Gold, albeit for different motivations. Regardless, knife-catching ahead of weekends is generally not a good tactic. Monday mornings have much better odds historically.
SODA — After barely touching resistance, the reaction down is now touching uptrending support. I”m going to lower resistance to 23.15, but it won”t be likely to trigger without also holding this test of 21.75.
WPRT — Closing today back above 5.05 would underme the new low, but the trend doesn”t reverse back up until closing above 5.85. It would be a JE candidate
NLNK — Retesting the highs, must close above 39 to maintain the rally”s momentum