December 1st, 2015 Watch-list
Hey all! Start to a new month and hopefully what will end up being a profitable month as well as we close out 2015! Today we saw the overall market pullback, with the DJIA coming back a little over 78 points. The S&P 500 also came down today as well. As we had discussed last night, both charts appeared to be topped out with the daily indicators being top heavy and the weekly charts still being topped out from the previous run. We had discussed potential Inverse ETF's to target in-case a pullback does occur (SDOW for the DJIA, and SPXS for the SPY). Both of those ETF's gave a buy today and appear ready to see a topside move. Remember however, we've been in this situation before where the daily chart is showing a reversal for the DJIA yet it still pushed higher. So make sure to absolutely have your stop losses set on both trades if you entered. Both the DJIA and SPY charts are below for you to review. Remember, SDOW does 3x the inverse of the DJIA, and SPXS does 3x the inverse of the SPY.
Current Under $20 Plays:
BTG: Saw this chart see some good topside pressure today. We were finally able to close at $1.10. Initial profit target right around the corner at $1.14 (50ma). Secondary target if we see a strong move, $1.20. As I mentioned yesterday, for those wanting to clear up some trading capital, if we continue to see this one hold this level going forward don't be afraid to exit to clear up the needed capital for other trades. If not, stop loss for me roughly $0.98. Adjust your stop depending on your entry.
GG: Very similar to BTG the past few weeks. Has essentially held that same level. Stop loss currently set at $11.20. Initial profit target $12.75, followed by $13. Same thing as BTG for this one...If you want to free up capital, don't be afraid to exit if we see it continue to stall in this level. Next key step is to break and close above $12. That would be a bullish short term sign going forward.
NTG: 4/4 indicators still curving up on this chart. Did see a good move early, but ended up settling into doji form for the day. Next key break is that first target, the 20ma presently at $16.65. Stop loss adjusted to $15.25. Adjust your stop loss depending on entry point for those that are in to represent a 1/2 R/R ratio.
LSG: Seeing this chart continue to fall, which is what we want. Is now within our buy range, however the indicators are still showing some downward pressure. Let's allow it to continue to settle and wait for that solid 3/4 buy with the indicators in/near their oversold levels. Keep on watch. Here is the chart breakdown.
BBEP: This chart gave us a buy signal a few days back, however it was near the upper end of our buy range. Hoping to see this chart continue to hold above $2 and for the indicators to begin to give a buy again. If we do fall, have your stop set. We may have a second entry opportunity at a lower price. Profit target currently $2.20 (20ma), second target $2.25. Stop loss (representing a 1/2 R/R ratio from $2.25 target) set at roughly $1.96. Adjust your stop to represent a 1/2 R/R ratio from your entry and profit target.
CLD: This chart looked great early and actually gave a buy, then pulled back on the 15 min and set a higher low providing a second entry opportunity as the 15 min indicators curved upwards, then appeared to be ready to move higher. The last 15 min however saw over 1 million shares come in, most of which was selling which pulled the daily indicators out of a buy and closed this days candle in Doji form. Tomorrow is going to be key for those who grabbed an entry on this one. Have your stop set as usual in-case in turns against us. May see it settle down a bit more. With that said, still hoping to see it move topside from this price level. Next key break, $3. Stop loss set at $2.49. Adjust your stop depending on entry point for those that did take an entry when the daily buy was given early in the day.
Above $20 Plays:
CHD: As we mentioned in yesterdays review, this chart appeared to be topside and ready to reverse downwards. Plenty of profit opportunity has been given. For those that were still in, your trailing stops should have been hit for profit. This one took a big move down today, but overall was a great play! Here's the final chart to show how those daily indicators can also serve as a great signal of reversals downwards as well.
HCP: Very similar to CHD, this chart also is starting to reverse downward. Both initial profit targets have been hit. Most all should be out at this point. Great overall play!
KHC: This chart also went up and hit our initial profit targets. For those still in, your trailing stops should have been hit for profit, or should be close to being hit for profit. Another solid play for roughly 5% profit.
Again, working to introduce another 1-2 above $20 plays as well as 1 more under $20 hopefully this week. As I said yesterday however, not going to force it. If you have any questions, let me know! Have a great night!
