Saturday Night at Chess Cinemas

Wolf (1994) may not rank among the very top films that Jack Nicholson, Michelle Pfeiffer, and James Spader have starred in, but it sure is a good time.

Nicholson plays a book publisher-turned-werewolf-at-night fighting to save his career against the cutthroat Spader, with Pfeiffer the main love interest.

The film was released twenty years ago during the summer, and directed by the great Mike Nichols.

Also notable in the cast are David Hyde Pierce and Christopher Plummer.

On a slow summer Saturday night, it is worth checking out.

NBG flashed a slight bullish divergence over in Greece last week, relative to GREK, which is the FTSE Greek ETF.

I will be back later this weekend to flesh that out.

***Also, please be sure to check out The Fly’s latest blog post by clicking here. It has several very important topics of interest to you.

Who’s hitting the beach? Grilling out?

It was a grinder out there, with more whipsaws in the major averages than fingers to count them on. Once again, though, we saw the resilience of dip-buyers even in the face of an ugly futures session overnight.

Our focus remained the same in the 12631 Trading Service–Keeping losses contained while finding opportunistic, quick winning trades such as RUSS UGAZ.

I will flesh out the relevant issues and actionable ideas over the weekend a bit on this blog as well as in my Weekly Strategy Session.

Enjoy your summer weekend. We won’t have too many more of them.

In terms of the restaurant stocks, Fiesta Restaurant Group is riding as high as Johnny Football Manziel with a rolled up dollar bill in a bathroom at Tao Nightclub at the Venetian.

In particular, compared to its peers there is no contest, as most of them have busted charts.

But Fiesta is attempting a multi-quarter breakout from consolidation, with the $49-$53 band of supply being the critical area to clear. Until then, I would focus on potentially building a position in increments.

The brand has a solid reputation and may also be a buyout candidate.

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With Macy’s sprinting higher this afternoon, Nordstrom is a still a long idea in contention.

Note the long, sideways and tight technical base on the daily chart, below. I would like to see the stock clear at least $70, if not $71, for me to take it on the long side.

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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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