Tuesday, December 1, 2015
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,862 Blog Posts

It’s All About That Dollar



It sure looks like the weakness in the U.S. Dollar today is giving precious metals and miners a shot at bouncing back yesterday’s apparently rollover. And, yet, even if this is a bottom for the metals and miners you can expect sharp shakeouts like yesterday.

I am keying off the UUP, Dollar ETF daily chart, below, to see if it loses $23.23 to the downside (just below).

If it does, I suspect metals and miners can sustain another move higher.

Also note top shelf miners like RGLD SLW are acting quite well today–Perhaps even like leaders.




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Five Stocks Wreaking Havoc in the Market’s Piazza



Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.



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Reverse Crashing



Union Pacific continues to be a poster child for the QE market, even with QE tapered now.

On the monthly chart, note the largest rail basically reverse crashing to the upside. More than anything else, it is a sight to behold. But it also indicates the rail is basically pricing in a global economic boom in the coming months, which is quite interesting in and of itself.

I am stuck in a few positions, debating cutting them and wiping the slate clean this morning.

Keep an eye on laggards like NILE for a squeeze higher if the market continues to melt-up.



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Night Owl Open Forum


For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

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Late Night Strategy for Tuesday



With a strong close on Monday, Cree is back on watch on the long side for a short squeeze higher from beaten-down conditions.

On the daily chart, below, note the potential bottoming formation being scalloped out. I view any further strength as actionable.

Drop me your top tickers overnight.



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