We are still peeling back the layers of the onion of overhead resistance in the broad 1300-1330 range. As you can see on a 30 minute chart of the S&P 500 dating back to last Friday, with the exception of this morning’s quick dip we are essentially dead money here and doing the “electric slide” dance up, then back, then sideways.
While overtrading this range may be a mistake, there are still some enticing setups out there. One name that I have been long since late last week is NETL, which has excellent short squeeze potential. As you can see on the chart below, if the resistance level just above is pierced, we could see some fireworks.
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I bought NETL. You and Zor are recommending this and you both are noted traders! Hope it has big fireworks. Thanks for your end of day videos and other articles.
Zor is an excellent trader, but not quite as good with the ladies as I am.
LOL. So long as you hang with the wine ladies from your TAN trade I agree!!
They are business class. I roll with First Class ladies.
in an up market, NETL seems to be struggling today…………
Great call on NETL. It shot up and of course i was out early at the dentist. It has come all the way back. That was one Hell of an expensive visit. I am ill. But, you called the break.
Any idea of why NETL is being crushed? I should have sold apparently and did not. WOW. I see nothing but an upgrade of the stock. Thanks for any thoughts.