February 4th, 2016 Watch-list

Evening traders! Fairly strong day for the market after being down for much of the morning. The DJIA closed up 183.12 and the S&P 500 closed up 9.5 points. As of now 2/4 indicators on the daily charts are starting to show a sell, but the other two are still showing some room to rise. As we've seen the past 3 days, neither buyers or sellers have complete control yet. We'll continue to monitor going forward. Another solid green day or two and we'll look to jump on SDOW and SPXS. Both the DJIA and SPX daily charts are below for review.


Current Below $20 Plays:

BDN: This chart was seeing a solid move following the red candle set on the 21st of January. Did start to lose some momentum yesterday and actually gave a 3/4 sell signal which prompted many to exit. We rebounded a bit today and held above that $12.50 price. For those still in going forward that is the key price to hold. Next key break, is a re-break and close above the 20ma.


MNGA: We saw this one go up yesterday and break our initial target of $1.40. Did see a pullback today into the high $1.20's, however was able to rally a bit. For those still in, have your stop loss moved up to your break even price. Great overall move on this one!

Current Above $20 Plays:

CHD: We've see this one break our profit target and continue to move topside. For those still in, again, have a trailing stop locked in of no more than 2%. Great overall trade here in a down market!


Overall we haven't been adding many new plays due to our more cautious approach following the big pullback. We have moved more towards ETF's and below $20 plays. As we see the market form more of a clear trend, we'll begin reintroducing more above $20 plays as well. With that said, there is one new play to add to watch going forward. AMCC. Detailed chart with notes below. Still needs a few days to come down. Want you guys to add it to watch now however. Hoping to be able to add 1 more below $20 this week as well.