December 17th, 2015 Watch-list
Hey Traders! Market overview and IDRA breakdown in the video below! All other current plays are reviewed below the video for you!
December 17th, 2015 Market Review and IDRA Chart Breakdown
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Current Below $20 Plays:
CLNE: This play closed down about 3% for the day. Came right near that $3.49 stop loss. Hasn't worked out as I had hoped, but does have that high risk factor we have discussed countless times. Have your 1/2 stop set. Next key break still $4.
ZIOP: We saw this one see a small gap up yesterday and actually gave a quick buy signal above our buy range. Ended up coming down a bit today. Hoping to see this one settle a bit further into our buy range to increase the profit potential for us. Keep on watch going forward.
NCT: This one saw a great move yesterday, however the key question is was it merely a one day pop with the overall market, or a reversal? The main thing going forward for this one is to hold above that $4 support level. As suggested yesterday, consider moving up your stop loss to your break even price. For those who are super conservative, you could even use a $3.98 stop on this one. Reason being if it does re-break below $4 we may (key word may) see it come back down and provide a second entry opportunity.
ELNK: This one was a tough entry for many as it did reverse right at the upper end of our buy range. For those that did get in however we have seen a strong move topside and have broken through our first target and that $8 resistance level. Good to see some of you utilize the scaling out strategy and exit 50% of your position at that first target. Make sure to now move up your stop loss to your break even price (whether you exited some or not) or kick in a trailing stop to reduce risk. Next target, the 20ma.
BYD: This one was a tough one as it actually gapped up without us today. Was setting up nicely yesterday and appeared ready to go, but ended up seeing it gap right out of our buy range. In instances like this you want to do your best to stay disciplined and not chase. We'll keep an eye on this one for future set-ups.
Above $20 Plays:
EXPD: This one gave us a buy a few days back, but was hoping to see it come back again so more could enter. Appears it may be moving up however. Keep on watch for those that aren't in. For those that are, next key break is a break and close above the 200ma.
KHC: We're seeing this one continue its move higher. Was able to break and close above the 20ma today. Next key resistance is the 50ma, which is our new initial target. Second target $74.50. At least, move your stop loss up to your break even price to reduce risk.