February 9th, 2016 Watch-list
Evening traders! So we had been talking about seeing a market pullback, and we've started to see that happen. The DJIA came down 177.92 points today with the S&P 500 down 26.61 points. Since the beginning of February the DJIA is down 426.58 points with the SPX down 83.5. Again, the key level we will be watching as support is that 15340 point for the DJIA. A significant break below that level could push the DJIA down into the mid 14,000 range. Both the DJIA and SPX daily and weekly charts are below with key support (green lines) and resistance (red lines) levels labeled.
Current Below $20 Plays:
AMCC: We're watching this one as it settles down to us. It closed down today 0.76%. Still right above our buy range but the indicators are still showing room to fall, especially that slow stochastic. Continue to monitor this one going forward. No need to give it much attention at this point intra-day until we break and close below that $5.15 price however.
With us closing out most all of our plays over the past week, it's time to start adding new plays going forward. Our main focus will still be quality over quantity. With that said we do have one new below $20 play to add. ATNM. This is a higher risk trade, but does have some potential for good profit. Chart is below with notes. Still need to see this one fall further. Next video watch-list will contain a full historical breakdown.