September 9th, 2016 Watch-list

     Evening traders! Small red day for the market with the DJIA closing down 46.23 points today. We re-broke back down below that 20sma and have spent the last few days hanging around that level. The market isn't giving us much conviction one way or the other the past few weeks, so it's tough to justify adding too many new plays until we have a better idea of where we're heading. DJIA daily chart below with key support and resistance labeled!  


Current Below $20 Plays On Watch:

TRQ: We've been in the red 3 days in a row on this one, however we were able to hold that key $3 level today. What we need to see happen is the price settle in this level and those indicators to begin curving topside again. As we've discussed, I'd look to have your stop set around $2.98 in my opinion on this one. 

Student Request Reviews: 

DGAZ: We saw DGAZ make a great move and hit those targets we had discussed. All who were in should be out at this point if they utilized the recommended 5%-7% trailing stop. Nice student request play here.   

XCO: We finally saw this one make a strong topside move. At this point you have the daily buy signal, and we are setting higher lows on the shorter time frames. Next key break for those in, $1.12. Look to take profit before the 200sma in my opinion!  

CBB: Not much new here. Still waiting for the daily buy signal and 15 minute buy signal. I don't really mind that it has settled the last few days. That's allowed those indicators to come back a bit. Keep on watch for those interested! 


     Not looking to add any new plays heading into tomorrow, however as we discussed yesterday, DWTI is a good one to begin watching moving forward in my opinion. If we can get another red day tomorrow, we'll most likely add it back to watch as a reversal play and do a full chart breakdown.