Livestox Recording Nov 12, 2015
[Thanks for helping me test the Webex software. Please share your experience… good, bad or indifferent… and let me know what device you used to connect.]
Thursday’s Livestox recording is below, and the stocks we addressed in order follow that. Please don’t hesitate posting follow-up questions to this blog post’s thread.
SPX — Recent ongoing weakness likely has been in the context of a temporary correction.
USO — Major near-term decline target met
GLD — Major downside decline target met
INSY — Be concerned if long under 26, but otherwise not a compelling pattern
GWPH — False break from Ascending Triangle suggests one more fresh low coming which will produce by signal
CARA — Bounce objective met, not exceeded
XXII — Potential to resume the rally but not currently signaled
TWMJF, ORGMF, SPRWF — 3rd-Day Surges seem to have sucked in every speculative, weak-handed, overly-optimistic, impatient buyer. A lot of time needed to consolidate or correct.
LXRP — Price and volume patterns remain attractive
TRTC — Recent bounce fizzled but new lows still likely
SUNE — Example of story stocks competing with momentum
TWTR — Not rejecting its dip under the 28 area
AAPL — Reacting down from its 122 bounce target
FEYE — Very premature to be bottom-fishing
thank you. volume kinda low. otherwise no preference relative to other formats, but I’m always on a desktop (XP) or a laptop (WIN 10).
Hi Rod, TWMJF nice bar today so far, (depending on close) It’s pullback to 1.55 is the bottom of triangle on 10/20 – 10/26. Is that good support or is the 1.30 – 1.45 area best for pullback supports.TY
TWMJF — While a prior low can offer support, it tends not to be durable. So, reacting up from the 2-3 week old prior low is what I call “obligatory” and usually only temporary. Volume accompanying the bounce isn’t impressive, either. My next support is 1.37.
Me again, You had talked about GWPH making a fresh low. Would that be under 79.01 or 76.06? TY
GWPH — Under 76, if 86 isn’t recovered first.
FYI, both a laptop running Windows 10 and an iPad worked fine for seeing the video. Have a good weekend all!
OK, last one?. The market has reversed now as we have a second consecutive lower close so far passed the 2065 area. New lows on the horizon, retest,or jump out the window, (sarcasm) :) TY
;)
Hi Rod. I have a small position in SIL. Looking to add and/or a target si vous plait. Merci bien.
SIL — I’m watching this area for a bottom, but it hasn’t triggered, and there’s otherwise no active target
Tku.
Bottom w/no top?
I like it