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chessNwine

Full-time stock trader. Follow me here and on 12631

Stock #Market Recap 08/18/14 {Video}

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Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

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You Want it to Be One Way with the Homies

…but it might be the other.

Keep an eye on homebuilders like DHI LEN this week to see if they roll back over from recent counter-trend bounces up to their declining 20-day moving averages.

More on this in my video market recap after the bell.

See you there.

 

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Last Line of Defense Here

12631 member “ironbird” astutely pointed out the DBC ETF in our chat room earlier today.

I wil flesh out my analysis of the weekly chart, below, after the bell on my video recap.

But you can see price leaning down against major, multi-year support.

For reference, here are the main components of the ETF (source). Note Brent at fourteen month lows.

Think it breaks down to the crash lows? Or bear traps here?

Top Ten Holdings

Brent Crude Futr May12: 13.83%
Gasoline Rbob Fut Dec12: 13.71%
Wti Crude Future Jul12: 13.56%
Heating Oil Futr Jun12: 13.20%
Gold 100 Oz Futr Dec 12: 7.49%
Sugar #11(World) Jul12: 5.50%
Corn Future Dec12: 5.01%
Lme Copper Future Mar13: 4.55%
Soybean Future Nov12: 4.38%
Lme Zinc Future Jul12: 4.16%

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DBC

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Pairing These Stocks for Every Palate

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If you are looking to push the bull case from current levels, FRGI continues to be best in class in the restaurant space. Note the breakout today. We have been looking at this one for a while now, and I would be stalking any pauses for entries.

For those inclined to be of the ursine nature, check out the relative and absolute underperformance by oil giant COP, threatening a bear flag breakdown today.

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FRGI

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COP

 

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Five Stocks to Ponder on Your Midday Stroll

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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2014-08-18_1223

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Wrestlers Trying to Make a Comeback

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Since getting decimated in the spring, WWE has been setting up for quick scalps on the long side quite well for beaten-down conditions.

Recall that this is a heavily-shorted stock with a fairly low float and thus ripe for sharp upside squeezes.

On the updated daily chart, a move up through $14 then $14.21 should trigger another round of squeezing.

Overall, WWE still has a ton of work to do to heal the wounds sustained this year. So consider it a very short-term trading vehicle until further notice.

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WWE

 

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