September 6th, 2016 Watch-list

     Evening traders! To close out last week we saw the DJIA produce a small topside rally of 72.66 points. We did briefly break above the 20sma on the daily chart, however failed to close above it. Closing above that daily 20sma could mean we may be headed back towards that all time high. Overall looking longer term at the weekly chart, things are still looking bearish. Doesn't mean we can't see a daily rally. Daily chart below for review with key support and resistance labeled. 


Current Gold Plays on Watch: 

GDX/EGO/RIC: We saw Gold see a strong move Friday with a gap up for many of our charts. We presently have a daily buy on all 3 charts. We received a clear 15 minute buy into the close Thursday for GDX and EGO, however RIC was not as clear as it formed a higher low Thursday and rallied into the close heading into Friday. For those who may be in any of the 3 plays, have your protective stops set. Hopefully we can see them continue their topside move towards their profit targets early this week! Charts below for review! 

Current Below $20 Plays On Watch:

TRQ: We finally saw TRQ break above that descending 20sma Friday and close above it. The goal now is to see this one continue to trend topside and hold above that 20sma. Next key break is going to be $3.24.  

Current Above $20 Plays On Watch: 

DWTI: All who were still in this play should now be out as your protective trailing stop of 3%-5% should have been executed for profit. Solid overall trade and one we will look to trade again in the future! 

Student Request Reviews: 

DGAZ: We saw DGAZ continue to trend topside Thursday and Friday of last week. Next key break for those that are in is $7.00 imo. Look to take profit on the way up for those that are in!  

XCO: Had a few people email in regarding this one that we reviewed last week, so wanted to touch on it again. Appears to be settling right where we wanted to see it settle, and has now given a daily buy signal. Next key break is going to be $1.06 in my opinion. If not in and interested in entering, look to enter off a higher low on the 15 minute chart! Not bad so far.