Monday 11/13/17


Dip Buying Continues


Overall Market-

Additional concerns mount including $1.5 Trillion Washington cash concerns yet price action remains bullish. Again we see speculators selling in the futures driving price low, Price action at the bell was off to the races at the gun.

Irrational dip buying continues. 20dEMA on the SPY is catching up to price action. Slowing pace of expansion is typically good for long term price action. However, this slowing is due to some critical news that holds potential to kill this rally if things do not end favorable for equity markets.

I will remain bullish, no news event... yet.

VIX (Volitility) VIX whip today. Spiking pre-market, flushing at open. Some signals here that the market is getting VERY choppy. Still looking for very strong spike when presents.

FCX (Freeport) Chart looks a bit bearish with today's close. Support 1 $14.40, support 2 $14.00, RSI crossing midline with bearish price action, typically a signal for continued weakness in price action.

CHK  (Chesapeake) Continue to hold 1,500 shares here. Price moving with market at open over $4.20 Resistance but unable to remain above. I will be looking to add back 1/2 standard position here if price continues to show strength above $4.00

XLE (SPDR Sector energy) update, still strong here. Like all energy plays right now.

AMD  (Advanced Micro Devices) Price supported just under $11, may enter for a long swing. Stop would be $10.50 level. Will need price action to show strength. Unsure as to direction from here, looking a bit weak. Lower high, lower close candle, typically a bearish continuation signal.

SNAP (snapchat) $12.24 support. I am short bias here. Support is building case for a base here. RSI approaching oversold on daily. Will watch for signals to enter.


TOP watch for this week and tomorrow;

  • $MRNS(Update: selling off a bit after failure to break 8$ at open. Closing just below support since gap up. We could potentially see some channel trading in this name.)
  • $NGL (Buy alerted for swing members. $12 level showing strength and volume into close after bounce.)
  • $IMGN (Support at $6.10 being tested. On watch for next leg up.)
  • $HTGM (baring news or irrational volume, removing from list.)
  • $MGTI (200dEMA holding on by a thread. Price stuck on $1.70 today. shorts are still holding strength here.)

Trend Ticker Watch List
pay close attention to all squeeze candidates, we have seen several strong squeezes recently.

  • $PYDS (potential long above $2.83, watch for volume.)
  • $HMNY - Back on the hot seat, great move today on volume and "news", on watch for continuation. $13.50 showing resistance level.)
  • $IZEA (Spike today, needs volume to trade. on watch)
  • $SKLN (Ugly, earnings this week. no position, will watch after news.)
  • $MSDI (earnings this week. no position.)
  • $INFI (uptrend remains. looking to long if volume increases. Support $2.08 )
  • $ONCS (breakout trade worked great here. Nasty pull back to $2.20 support will continue to watch for trade here.)

Hot watch for market 11/13/17 (low float plays)

 Therapeutic Stocks continue on watch.

  • CAPR (Great play at open, end of day sell off is troubling, $2.80 looking to be critical level based on today's price action.)
  • MTBC (Showing some weakness, price must gain strength over $2.50 for shot at $2.83 resistance)
  • CREG (Support held, $5, strong trade up to $7 today. range bound based on price action.)
  • LBIX (High risk swing opportunity. Daily candle a bit week. May take small size here.)
  • TNDM (Strong trend, nice looking set up for squeeze potential.)
  • CLSN (Great continuation, selling off after morning spike, closing at $2.10 "support")

Added: APTO (nice squeeze today); OPTT(Squeeze and volume at close, continuation watch), WPCS (squeeze and recovery at close, potential reversal. on watch), TEUM (afterhours play, on watch for play tomorrow), ITUS (swing potential here, cross and bullish hammer)


Low Float/Small Cap momentum-

Shippers showing very little life, low cap bio stocks are now momentum targets.

Strong Monday, HMNY being candidate for top trade today. A few very strong squeezes at close, this is typically great for opening range breakout candidates. Will watch close for pre-market signals.

Momentum disclamer:
Use caution when trading these low float names, they can crash even faster then they rise. Lock profits and do not look back, never play the "what if" game on these names. You can be up or down several hundred or THOUSANDS of dollars in minutes and in the case of a T12 material halt, you could be in for massive pain or worse be trapped in a position for days or weeks until material evidence is sufficient to remove halt.

Closing Notes:

I hope you were able to build a cushion today. Price action is showing great strength at open and momentum is showing quick breakouts at bell. Moral of today's price action, get in quick and lock profits before the roll over starts.

We are nearing the mid point of the month, seasonal tail wind will soon carry us to years end. This will bring what is typically an increase in mid cap stock volumes in December. Seasonal rotation into energy is now also in full effect as colder weather is at the front of many traders mind every morning.

Be sure to keep the final 7 weeks of this year on point. Lets finish this one strong. The work to finish the year strong starts today. Continue to compound and keep losses small.

Good luck team, Remain humble and hungry!

Disclaimer: We are not responsible for losses for any reason. We are just an investing club here, seek financial advise from a professional before acting on any of this information. This information is strictly my opinion and what i am seeing in the market. The information above is not a trade recommendation to buy or sell. I am not a licensed broker, dealer or finical adviser. Trading comes with considerable risk and my not be for everyone. Past performance is not indicative of future performance. Never trade with money you can not lose and paper trade to prove profitability before using real money.