RIG RT

Watching RIG flag here and RT

Double Top On Dollar? Miners Part 2

I've been studying the gold miners chart In the index GDX and GDXJ. Their direction ultimately comes from dollar direction. Gold is inversely correlated to the dollar. All I could see in the dollar chart was this wide trading range it is in. It's testing support of the range now. I kept looking at it and the second test of resistance never made it and this very well could be a classic double top her on the US Dollar. The more I look at it the more confirmation it gives me. The two prints on the top candles were bearish candles. The first was a black candle and the second a shooting star.

The junior miners chart is essentially the same as GDX the gold miners index. Both are tracking gold which is tracking the dollar. GDX and NUGT have a clearer bull triangle forming. There is max maybe a week left until the triangle is done forming. So it could be a week until the breakout up or down or it could come sooner any day now. Here are the regular miners. Much cleaner triangle than the juniors. Definitely bullish now.

For Next Week and Monday

Junior gold mining stocks have been consolidating since March. The index I'm looking at is GDXJ. The consolidation is very clean and well defined. It's a triangle pennant. The triangle is ascending which is bullish, however the move off the end of the triangle is all that matters. It looks right now that it is going down. I'm going to put a buy stop order for JDST around mid 9.50s which is the 3 X bearish ETF. I'm going to scale in small at first though as it doesn't look confirmed yet.

Uranium stocks are in play. UEC URRE and I'm watching NYMX for another run day

NYMX Trade

I put NYMX on my watchlist for today because I noticed it in a scan. The consolidation was clean day over day and it looked like it was finally ready to run as it had printed a couple hammers around 1.00. It is a big runner when it runs too.

This morning I was just watching it pop a little over 1.01 and it just hung there on no serious volume. Then it spiked to 1.09 and fell back. Immediately it shot back to 1.09 and then made a new high of the day at 1.10. This was enough to prove to me it wanted to run. I bought it at 1.11 as you can see on my Twitter. It then started floating on air and went to 1.50. I just then noticed the spike and happily sold at 1.42 after I saw it in the 1.40s. It ran all the way to 1.70s up 70%! Tweeted the exit too. Here's the chart

Trading Watchlist For Monday 19th

After running through a bunch of different scans on Stockfetcher my favorite setups for Monday are by a wide margin shorts. Don't miss CHOP. Classic short setup.

So on short watch we have CLNE. I thought I remembered the ticker but I think that was some other "Clean" stock. A lot of these "clean" companies are just pumped up fluff. This one though I looked at the financials and did some scuttle and it is a pretty good company. The chart is very good for a short setup though after such a consecutive run and a red floater candle above the upper bollie. The "Kiss of Death" as Muddy would say.

CLNE short bias.

CHOP short bias. This one looks like it has the most potential for a big drop. Wow! looks nice. Textbook short. China name too.

AMCN short bias

One for Wedn 15th

longs REN HK AXN ENRJ MDR TTNP HERO

shorts ERI

4/14 Watch List

For longs I have TTNP NBY AXN MDW.

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Stock Watches Monday 4/13/15

Short biased is MBVX. It's above upper bollie here.

AXN for a long.

MDW started a bull flag. Long biased.

Watches 4/10

Short biased MBVX. Getting overextended. I think it hits 2.75 soon.

Natural Gas is breaking down again. UNG can fall fast in breakdown mode. Short biased UNG. The ETF I like is DGAZ

Trading Watchlist 4/7/2015 !!

I always try to look through a bunch of stock scans every night. I have a long list of custom scans on Stockfetcher.com I go through. The way StockFetcher is set up you can scroll over the tickers and a pop-up chart pops up. With the feature I can run down a list very quickly and glance at the charts of dozens and dozens of stocks in no time. I probably look at about 70 or more charts a night. That's including ones I see on StockCharts.com homepage. Sometimes I look through more. Sometimes less. Watches for today are as follows.

Short biased we have LEVY. Surprisingly no one on Twitter is even onto this one. I was short biased yesterday and am very short biased after todays run. If it opens below 15 and goes red I think a good daytrade short is had.

VLTC is short biased. It's up on Icahn news. Doubt this huge run is justified for more or less a media pump of the stock. $20 million market cap and not much on the financials.

Last on the short's list is CAPN. Need to go red on the day.

Long biased is ANAD. It just came off of a nice consolidation.

Contact

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