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The Universe, week of Oct 26, 2015… – If, Then… Market Timing

The Universe, week of Oct 26, 2015…

By Rod David | October 25, 2015 - 7:19 am | 11

[Note: I publish “The Universe” every weekend, updating my support and resistance calculations for Marijuana sector stocks. It is not a projection, but a handy reference… Non-Marijuana stocks are covered elsewhere during the week.]

Interesting week. I had highlighted in the prior Universe issue that recent firming among Canadian issues was credible for extending higher. And they did, a lot, without delay. So I posted to the blog that extending higher the following morning would form “third-day charm” setups, which aren’t so charming. Each in my universe (OGRMF, SPRWF, TWMJF) reversed down sharply from the next day’s fresh highs. And each closed at or testing its resistance in the Universe table.

The setup identifies rally that have gotten so carried away so quickly that they must be sponsored by the most speculative of speculators. Seeing many such setups during March and April 2014 contributed to may sector-top call.

This instance can resolve differently. Where 1-1/2 years ago the sector had been rallying for several months, this is only a small part of the sector, and coming off of lows. The near-term difficulty is a constant, and might not be overcome by all issues after closer scrutiny. But a third-day high is a landmark whose recovery would be bullish.

Marijuana Stock Universe for October 26, 2015
Reference this table during stock reactions
4-week # up: 9 9.00%
trends* # flat: 16 16.00%
# down: 75 75.00%
*The percentages of stocks rising or falling over 4 weeks.
symbol support resistance 4-week trend
ACGX 0.000 0.003 down
AERO 1.000 1.950 down
AGTK 0.000 0.004 down
AMMJ 0.070 0.150 down
ARNA 2.200 2.900 down
ATTBF 0.035 0.075 down
BLOZF 0.130 0.240 down
BLPG 0.015 0.086 down
BRDT 0.012 0.031 down
BTFL 0.071 0.232 down
CAFS 0.001 0.011 down
CANL 0.440 0.740 down
CANN 0.600 1.330 flat
CANV 0.570 0.860 down
CARA 14.250 18.870 down
CBDS 0.510 1.850 down
CBGI 0.000 0.005 down
CBIS 0.020 0.041 flat
CGRW 0.360 0.610 flat
CHUM n/a n/a down
CNAB 0.300 0.590 down
DEWM 0.001 0.003 down
DIGP 0.170 0.400 down
DSCR 0.000 0.025 down
EAPH 0.005 0.013 down
EDXC 0.007 0.019 down
ENCC n/a n/a down
ENDO 0.006 0.018 down
ENRT 0.012 0.026 down
ERBB 0.002 0.004 flat
ETST n/a n/a flat
EXMT 0.000 0.004 up
FITX 0.004 0.078 up
FSPM 0.000 0.250 down
FULL 3.130 3.390 up
FWDG 0.000 0.002 down
GBLX 0.270 0.460 up
GRCU 0.000 0.004 flat
GRNH 0.023 0.067 down
GWPH 71.600 86.400 down
HEMP 0.050 0.107 down
ICBU 0.000 0.003 down
IGRW 0.000 0.002 down
IMLFF 0.100 0.180 down
INCC 0.000 0.002 down
INSY 21.250 27.350 down
ITNS 0.001 0.005 down
KAYS 0.067 0.187 flat
LATF 0.000 0.001 down
LXRP 0.140 0.205 flat
MCIG 0.017 0.030 down
MDBX 0.062 0.150 flat
MDCN 0.000 0.001 down
MDRM 0.008 0.025 down
MINE 0.000 0.002 down
MJMD 0.000 0.015 down
MJMJ 0.000 0.001 down
MJNA 0.020 0.035 down
MNTR 0.310 0.620 down
MSRT 1.410 1.880 flat
MYEC 0.014 0.021 down
MYHI 0.013 0.100 down
NDEV 0.016 0.053 down
NMUS 0.218 1.215 down
NRTI 0.000 0.002 down
NTRR 0.022 0.046 flat
OGRMF 0.280 0.389 up
OSLH 0.000 0.001 down
OXIS 0.009 0.019 down
PHOT 0.010 0.030 down
PLPL 0.053 0.121 down
PMCB 0.095 0.140 flat
PNTV 0.001 0.007 down
PZOO 0.001 0.005 down
QEDN 0.000 0.003 down
REDG 0.000 0.003 down
RFMK 0.000 0.002 down
RSSFF 0.030 0.100 down
SING 0.005 0.012 down
SKTO 0.000 0.004 down
SPRWF 0.082 0.165 up
SRNA 0.100 0.185 flat
STEV 0.038 0.055 down
TAUG 0.003 0.005 down
THCZ 0.075 0.013 flat
TRTC 0.088 0.129 down
TURV 0.463 0.770 down
TWMJF 1.330 1.700 up
UPOT 0.040 0.125 down
USEI 0.000 0.003 down
VAPE 0.034 1.000 down
VAPR 0.000 0.050 down
VGPR 0.000 0.002 down
VHUB 0.025 0.048 up
VPCO 0.400 0.840 down
VPOR 0.000 0.001 down
WDHR 0.000 0.002 down
WOGI 0.005 0.013 flat
XTRM 0.001 0.004 flat
XXII 1.100 1.420 up
Posted in Bigger Picture

11 Comments

  1. guanito on October 26, 2015 - 3:35 pm at 3:35 pm

    Hi Rod, any virtue to the GDSI chart? Tku.



    • Rod David on October 27, 2015 - 7:29 am at 7:29 am

      GDSI — There’s not yet an ongoing pattern, but the recent surge’s pullback was as deep as possible without reversing momentum back down. Back above .0045 should resume the rally.



  2. fennecby on October 27, 2015 - 1:29 pm at 1:29 pm

    bottoming queries: NMUS, AERO, GLUU.
    anything look enticing for a nibble? and if so, with what targets / stops in mind?



    • Rod David on October 27, 2015 - 2:18 pm at 2:18 pm

      NMUS — The most attractive, but only for not having extended its most recent probe of fresh lows, and for the stability that has begun since then.

      AERO — Perhaps also stabilizing somewhat, but still a downtrend of lower lows and lower highs.

      GLUU — Nothing necessarily attractive in the pattern, and room for a bounce up to 4.65 before even suggesting otherwise.



      • fennecby on October 27, 2015 - 5:48 pm at 5:48 pm

        cheers.



  3. Josey on October 27, 2015 - 2:37 pm at 2:37 pm

    Hi Rod, thinking of shorting GILD if it pops after earning @ around 117.00,(if it get’s there) thinking that a lot of buying pressure will have been exhausted on its nice run up into earnings. Would that be a plan or suicide standing infront of that Mac truck? TY



    • Rod David on October 27, 2015 - 3:45 pm at 3:45 pm

      GILD — This has been among the more bullish patterns in the sector. Popping up on earnings might indicate the market has discounted the bearish elements and is prepared to move on. That’s not to say an initially favorable knee-jerk reaction up wouldn’t react down. But it would depend on your objective for covering that short.



  4. Brett Halloran on October 28, 2015 - 9:05 am at 9:05 am

    Hi Rod, I’m looking at BITCOIN again after having surged recently to get through $300. Any discernible pattern developing?



    • Rod David on October 28, 2015 - 3:57 pm at 3:57 pm

      BTC — Sorry for the delay… the highest target I find is 322, following an extended relentless rally. Almost any higher would be vulnerable to turning exponential, if not reversed back down to new lows.



  5. Josey on October 29, 2015 - 10:16 am at 10:16 am

    Hi Rod, LOCK a flash in the pan on earnings or targeting 16.00 + – or new highs? TY



    • Rod David on October 29, 2015 - 10:28 am at 10:28 am

      LOCK — Already rallying well ahead of the report suggests its reaction is valid. That doesn’t prevent its correction. And 14.85-14.90 is pretty much the extreme before some sort of consolidation or retracement should begin