The whole group looks ready to “BTFO!”
$ABX:
$AEM:
$AU:
$AUY:
$DROOY:
$GBG:
$GFI:
$IAG:
$NG
$NGD:
$SA
$VGZ
Jake must be one happy man right about now. The group WILL move.
Comments »Does the DOW matter?
Does the DOW Jones Industrial average matter anymore? It is the only Index still above the 50 day moving average.
When looking at the chart above, coupled with The PPT hybrid score, one is tempted to go long here.
Comments »More Sandwiches
A great man once said, “It’s fun to play momentum until you get slapped in the face with it.” That is exactly what happened to me the past few days as I was left holding the bag on a few names.
The market is sick here, and needs time to heal. Just last week my watchlist was filled to the top with great looking setups, and today? Little to none. No sense in trying to rush any trades here, but if we do get another deep sell off I will be jumping into my favorite leveraged ETF, based upon the mathematical scores in The PPT.
A few names I want to accumulate on this dip: $SGY, $CCME, $GMCR, & $YGE.
For now, it’s multiple sandwiches in between sets of deadlifts. And, possibly a new 12631 video. Stay tuned.
Comments »The Russell Never Lies
The Russell 2000 is my favorite tell in this out of control market. It has been super accurate at calling tops and bottoms within the last few years, just ask chessNwine. If we look at the index right here, we can see that we are sitting on some pretty significant support, with the 20, 50, & 200 day directly beneath it. A breach in these important moving averages and I will be forced to bring out the $VXX (hat tip GetGroup).
If it starts to get ugly, here is my favorite bear screen inside The PPT:
MoMo shorts screen (PPT members click link to save screen)
ENER: Long Idea
$ENER looks great here. If it can clear $5.40 it will be off to the races. One thing to note though, we have a bunch of solar companies reporting this week. I’m long.
EDIT: the stock broke out before i got through this post. PPT members caught it, as i post there first. Join The PPT now!
