February 28th, 2017 Watch-list
Hey traders! Another green day in the books for the market with the DJIA gaining 15.68 points and setting another all time high in the process. We showed some weakness but were able to rally a bit to close green for the DJIA. As stated yesterday, a pullback in this level would not surprise me, but this market has been on a wild rally, so we'll look to remain neutral to it for now. DJIA daily chart below with key support and resistance labeled for review.
Current Open Positions:
CVM: We did receive a daily buy signal on our high risk/high reward CVM trade. Lots of students getting in anywhere from the $0.096-$0.099 range (some lower, some higher). With this one being a high risk trade, the hope is we see a quick pop in the next 1-2 days right towards our initial target which will allow us to either exit if one chooses, or kick in other protective measures, such as moving ones stop to break even or kicking in a trailing stop. Chart below for review. If not in, do not chase in this level.
Current Stocks/ETF's on Watch:
UFS: This one appears to be setting a base in this level. If it does, let's keep a close eye on those daily indicators for the daily buy signal. Once we have that, jump to those 15 min indicators for a buy there as well before entering. If this one does fall a little further, we may move our buy range down just slightly. Chart below for review!