STOCKS FOR 11/15
First off I'd like to start with a pat on the back for all of my followers. As I clearly stated yesterday, the XME ETF was a leading indicator, down 2.7% on the day - couldn't have been an easier short. That being said, we have reach EXTREME LEVELS of over-selling. Oscillator's are showing a -60, meaning a snap back is inevitable (see yesterday's Dow Theory link - looks like we are right at retracement).
That being said, there are a few things we need to watch VERY CLOSELY tomorrow. The transports dropped below major support, so the DJT's are atop the watch list, along with the XME's, and AAPL. AAPL is its own beast, and at extreme levels like this we are bound to see a 2-3 day snap back before we re-test lows. Be on your toes for a 20-30 point move in the next few days in AAPL.
Another stock that I am taking a liking to, but have not traded, is LNKD. One of the few stocks holding support during this absolute blood bath. Keep an eye on the $100 level there.
Check out some more charts below, and feel free to email me or tweet me if you have any questions.
That being said, there are a few things we need to watch VERY CLOSELY tomorrow. The transports dropped below major support, so the DJT's are atop the watch list, along with the XME's, and AAPL. AAPL is its own beast, and at extreme levels like this we are bound to see a 2-3 day snap back before we re-test lows. Be on your toes for a 20-30 point move in the next few days in AAPL.
Another stock that I am taking a liking to, but have not traded, is LNKD. One of the few stocks holding support during this absolute blood bath. Keep an eye on the $100 level there.
Check out some more charts below, and feel free to email me or tweet me if you have any questions.