December 30th, 2015 Watch-list
Evening all! With us being right in the holiday season and volume being so low for the overall market, not many new trades have presented themselves. With that said however, lets go ahead and do a quick review of the overall market and all current plays on watch! Today was a strong day for the market with the DJIA seeing a 192.71 gain and the S&P 500 gaining 21.86. Both the DJIA and SPX are still sitting within the sideways channels they've been in for the past month. As we've repeatedly discussed, we need to see a break above the upper resistance (red line) or lower support (green line) to signal a longer term uptrend or downtrend.
Current Below $20 Plays:
ZIOP: Nice 3.09% gain today on this one after having seen two down days in a row. Next key break is that $8.62 high set on the 24th. Want to see it hold above that $8 support price going forward ideally. 4/4 indicators now coming off bottom and the RSI, MFI, and Slow Sto are all starting to cross out of their oversold levels.
NCT: This one gave us a great move up to the $4.13 level a few days back. Many are already out either all of their position, or 50% of total shares. For those still in, we have seen a few red days in a row now and are starting to see the indicators turn against us. As we've repeatedly said, have your stop raised to your break even price at this point to reduce risk. Hopefully we can see this one make one last push higher. If not, we'll be ready to stop out for a break even at worst.
IDRA: We showed a lot of patience on this one as it sat above our buy range for a week. Ended up coming down for us yesterday and ended up seeing a decent pop today, closing up 4.49%. 4/4 indicators are curving up at this point. Next key break is the 200ma, followed by the 50ma. If we can break and close above both of those resistance levels, we could be positioned for a move towards $3.50. There is always the risk of this being a 1 day pop, so absolutely have your 1/2 R/R ratio stop set. For example, if your entry was $3.15 and your target is $3.50, your stop would be set at $2.975 to represent a rough 1/2 stop. This one has key support below this bounce level, so worse case scenario if we do see this one pullback, we'll stop out and look for a re-entry in the next support level. Hopefully however we can see this one continue to push higher towards our profit target!
ELNK: Not much new here. Still waiting for this one to come down into our buy range and for those indicators to settle down a little more. If it runs without us, do not chase. Let's be patient and picky on this one. Keep on watch.
Current Above $20 Plays:
EXPD: Down 0.33% for the day. Still hanging our right in the same range it has been in for the last few days. Next key step is to break and close above $46 going forward.
AAPL: Nice move today for AAPL, seeing a solid 1.8% gain. We spent a good amount of the day up above $109 but ended up pulling back a bit into the close. Next step is a re-break and close above $109, followed by $110. As usual, have your 1/2 R/R ratio stop set in place.