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Issue #447 
October 4, 2015 | Newsletter
The newsletter with chart analysis for stocks and stock indexes |
Stock Indexes Analysis/Evaluation
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| Positive Reversal Seen, in Spite of Negative News!
DOW Friday closing price - 16472
The DOW generated a positive reversal week, having gone lower than the previous week's low at 16016 (had a low this past week at 15942) and then turning around to close in the green and on the highs of the week, suggesting that further upside above last week's high at 16472 will be seen this week.
The DOW did this "in spite" of negative economic news that came out on Thursday and Friday, suggesting that the traders are looking for the seasonal year-end rally even if the economy is not "firing on all cylinders".
The DOW also generated a "small" buy signal on the weekly closing chart, having closed above the most recent high weekly close at 16433. In addition, the previous week's close at 16314 will now be considered a successful retest of the 5-month low weekly close at 16102 that is now also considered a successful retest of the important psychological support at 16000.
To the upside and on an intra-week basis, the DOW will show minor to perhaps decent resistance at 16664/16669 and decent at 16933. Further and likely more indicative resistance is found at the 17000 demilitarized zone that does include 2 previous intra-week lows seen in December and February at 17067 and 17037 respectively.
To the downside and on an intra-week basis, the DOW shows minor to perhaps decent support at the 16000 demilitarized zone (15970-16030). Additional minor support will be found at last week's low at 15942, minor to perhaps decent at 15855 and decent to strong at the recent low at 15370.
The positive reversal seen in the DOW this past week, mimics what happened in 2011, inasmuch a major low and positive reversal was seen the first week of October and from which not only an end-of-the-year rally occurred but the resumption of the uptrend after the beginning of the New Year. Resumption of the uptrend is still not a given since the economy and the role of the Fed have changed for the worse but the reversal this past week was indicative that the seasonal end-of-the-year rally is likely to be seen. The rally on Friday was particularly indicative, inasmuch as the index came within 71 points of the low of the week (after the very negative Jobs report) before turning around to make the high for the week at the end of the day.
The DOW chart, as well as the positive reversal and close on the highs of the week, suggests that the index is likely to head up to the 100-week MA, currently at 17045, which is also the point where the pivotal break of support at 17037 occurred in August. It does seem that having tested the 200-week MA (currently at 15410) successfully and then spending 5 weeks trading above the line, that the traders will be looking to see how much they can accomplish to the upside, especially after the negative reports that came out last week failed to give the bears ammunition to take the index lower.
For the rest of the year or perhaps until some new and catalytic economic data comes out, the probabilities favor the DOW trading between 16300 and 17500. This coming week should be all mostly up with the 16700 level being the level the bulls will find some resistance. Possible trading range for the week could be something like 16244 to 16700.
NASDAQ Friday closing price - 4707
The NASDAQ generated a positive reversal week, having made a new 5-week low and then closing in the green. The reversal also accomplished generating a spike down to 4487 that will be seen as a successful retest of the intra-week low at 4293 that was seen in August if the index goes above last week's high at 4707 this week. Having closed on the highs of the week and further upside above last week's high at 4707 expected to be seen, it does suggest that the index has now built a strong bottom from which a seasonal end of the year rally can occur.
The positive reversal in the NASDAQ is further supported by reversals also seen in AMZN, GOOG, NFLX, and PCLN which represent the speculative Tech Sector that would need to participate in the rally if the bulls are to have any success.
The NASDAQ bulls also accomplished a chart feat that is likely strongly indicative of future success, having closed on Friday above last week's close at 4686 and in the process building exactly the same kind of chart formation seen in the index between December and February and from which new all-time high weekly close at 5210 was made 6 months later. In the Dec-Feb period, the index spent 9 weeks trading sideways between 4635 and 4808 (based on the weekly closes) before embarking on a 6-month rally that took the index up to the new all-time high weekly close. Friday's green close was the 7th week in a sideways trading phase in which the index has traded between 4683 and 4828 (based on the weekly closes), meaning that if another green close is seen next week (but below 4828) that a breakout of that formation could be seen the following week that could ultimately take the index to a new all-time high weekly close sometime near the end of the first quarter of next year.
To the upside and on intra-week basis, the NASDAQ will show minor resistance at 4785 that represents the runaway gap between 4785 and 4795 that was generated on September 22nd. Further intra-week resistance, but somewhat minor in nature, will be found at 4810 and again at 4836. Above that level, minor but possible short-term pivotal resistance is found between 4849 and 4863 that represents the daily closing area that when broken on August 24th brought about all the selling interest seen the last 6-weeks. Further resistance is found at 4960, which was the spike high seen September 19th and that also represents on a daily closing basis, the 200-day MA, currently at 4915.
To the downside and on an intra-week basis, very minor support in the NASDAQ is found at 4614 and a tiny bit stronger at 4580. Likely short-term indicative support is found at Friday's low at 4552 that does include additional and established support at 4547. Below that level, support is found at 4487 and then nothing until the low seen in August at 4294.
The positive reversal action seen in the NASDAQ on Friday, especially after receiving negative economic news, suggests that Friday's low at 4552 (and down to 4547) will now be pivotal support for the index that is unlikely to be seen (much less broken) without some very negative news coming out.
The NASDAQ is likely to see a positive week this coming week with a rally back up to the 4800-4836 level where some selling interest is likely to be found. The probabilities favor the index closing below 4828 next Friday but the week after a stronger push to the upside is likely to be seen that will convince the traders that the end of the year rally is occurring and that will likely cause the index to get up to and convincingly above the 5000 level before the end of the year.
Probabilities favor the NASDAQ seeing a trading range this coming week like between 4614 and 4836 with closure of the gap at 4795 being the key issue to be accomplished this week by the bulls.
SPX Friday closing price - 1951
Just like with the other indexes, the SPX generated a positive reversal, having made a new 5-week low and then turning around to close in the green and on the highs of the week, suggesting further upside above last week's high at 1951 will be seen this week. A rally above last week's high will mean that last week's low was a successful retest of the August lows.
The reversal in the SPX was particularly telling, inasmuch as the index came within 4 points of the August low (unlike the other indexes that did not come near the August lows) but the bears were unable to break the support in spite of the negative economic news that came out on Thursday and Friday, strongly suggesting that the correction low has been seen.
To the upside and on an intra-week basis, the SPX shows minor resistance at 1952, minor to decent between 1988 and 1993 and decent at 2019/2020. Nonetheless, on a weekly closing basis, minor to perhaps decent resistance is found at 1975, which is where the 100-week MA is currently at, a line that got broken to the downside 6 weeks ago and which put the index officially into a corrective phase.
To the downside and on an intra-week basis, the SPX shows minor support between 1903 and 1911, minor but perhaps indicative support at Friday's low at 1893 and then decent support between 1867 and 1871.
The chart strongly suggests that the SPX will at the very least move up to the 1975 level this coming week and given that the resistance there is mostly from the 100-week MA, the resistance will likely be more important next Friday than intra-week. As such, it is fair to assume that if no new fundamental negatives comes out, that the index is likely to see 1988 at some point during the week.
This coming week will likely be all about whether the SPX closes above the 100-week MA next Friday or not. A close above that line would be a signal that the correction is over and that some form of an end of the year rally will occur. By the same token, if that short-term scenario does happen, it is unlikely that the bulls will be able to accomplish a break above the 50-week MA, currently at 2058, until the first quarter of next year, and then only if the economy has improved.
Probabilities strongly favor the bulls in the SPX this week but then only for a limited rally up to the 1975-1988 level. Based on the 80-point trading range seen last week, it is possible (perhaps even likely) that the index will trade between 1911 and 1988.
The bulls claimed a hard-fought victory this past week, having to overcome strong negative economic news, in the form of a lower than expected ISM Index and Jobs reports. Nonetheless, they did overcome the news and with no economic reports of importance scheduled for at least another 4 weeks, the attention will now turn to the earnings quarter that starts this week with AA reporting on Wednesday after the market close.
The first 3 weeks of any earnings quarter generally favors the bulls, suggesting that if that tendency continues that the bulls will get the help they need to generate further upside. Nonetheless, the economy has been faltering a bit over the past few months and earnings are not likely to be sufficiently above expectations (if at all) as to generate a buying frenzy. By the same token, much of what is to come out is probably already factored in to the existing price levels, meaning that the earnings quarter is more likely to help the bulls than the bears, but then only slightly.
The main concern will remain "when will the Fed raise interest rates?" and with the very disappointing Jobs report on Friday, and the equally worrisome level of the ISM Index (close to 50, which is an important pivot point between growth and contraction of the economy) the probabilities now favor the Fed waiting until sometime in the first quarter of next year before they "pull the trigger". With that worry not in the immediate future, the probabilities will favor the seasonal end of the year rally being seen.
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Stock Analysis/Evaluation
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CHART Outlooks
The market in general generated a positive reversal week in spite of negative economic reports, strongly suggesting that the correction is over and that the seasonal tendency to rally at the end of the year will occur once again. All mentions this week are purchases.
Nonetheless, the end of the year rally is not likely to be "evenly across the board", meaning that the stocks likely to rally the most are those that have the highest "short-covering" potential.
The mentions given are all stocks that have dropped at least 25% in value this past year.
PURCHASES
AXP Friday Closing Price - 74.41
AXP has been in a downtrend since June of last year when the stock made an all-time high at 96.24. The stock has now corrected 25.5% in price (from 96.24 to 71.71) but seems to have found a bottom to this correction as 6 weeks ago it got down to the 200-week MA, currently at 73.95, and the bears have been unable to generate any further downside since. The 200-week MA is a dependable long-term indicator of trend and in the case of the AXP, has not been broken to the downside since October 2010 (5 years), meaning that the probabilities are high that with the end of the year rally now likely to occur, that the stock could be one of the ones that generates a decent bounce up.
AXP closed on the highs of the week on Friday and further upside above last week's high at 74.70 is expected to be seen this coming week. If that does occur, Friday's intra-week low at 72.50 will become a successful retest of the August low at 71.71, meaning that the stock may have built a bottom from which a decent rally can occur. If the stock closes in the green next Friday, the close this last Friday at 74.41 will also become a successful retest of the 2-year low weekly close at 74.08 (seen in August), as well as the second successful retest of the 200-week MA, strongly suggesting that a recovery of some sort will be underway.
To the upside, AXP chart shows very minor resistance at 74.60, very minor again at 75.67 and then minor to perhaps decent resistance at 77.26. Above that level, there is minor to decent resistance at 78.40 and then nothing until the $80 demilitarized zone, which does include the 200-day MA, currently at 80.30, which will be the main objective of the mention, though certainly not the only possible upside objective.
To the downside, AXP shows minor support at 73.67 and a bit stronger and likely more pivotal at Friday's low at 72.50.
If AXP has found a bottom to this 2-year downtrend (now looking likely) a rally back up to the $80-$82 is highly probable since that is a level at which the stock traded around for 6 months (February to August) and as such will be a "magnet" for any end of the year rally. Nonetheless, it does need to be mentioned that the stock got as high as 94.80 in December of last year (10 months ago) but then fell precipitously to the $80 level over a period of just 5-weeks, meaning that above the $82 level there is really no resistance of consequence until the $92-$94 level is reached, meaning that a purchase of this stock could offer a lot more than what the main objective of the mention offers, if the fundamental picture improves. Earnings report on the stock is due out on October 21.
Purchases of AXP between 73.65 and 74.05 and using a stop loss at 72.40 and having an 80.00 objective will offer a 4-1 risk/reward ratio.
My rating on the trade is a 4 (on a scale of 1-5 with 5 being the highest).
LVS Friday Closing Price - 40.87
LVS has to be considered one of the most shorted stocks in the market over the past 18 months, given that the stock reached an all-time high in March of last year at 88.28 and last week got down to 36.53, meaning that the stock has seen almost a 60% depreciation in value of this period of time.
Nonetheless, LVS got down to a level of support last week between 34.72 and 37.23 (got down to 36.53) that has been a major and dependable support for the past 5 years (since October 2010), given that it has been seen on 5 different occasions during that period of time and on each occasion a bounce of "at least" $11 per share has been seen. With that kind of chart history and an end of the year rally likely to occur in the market, this is a purchase that offers a high probability of success.
LVS made a new 38-month low last week but ended rallying 10% from its lows on the last 2 days of the week, as well as closing near the highs of the week, suggesting that the low is an important one (likely bottom of the recent downtrend) and that further upside above last week's high at 41.62 will be seen this week.
To the upside, LVS has very minor resistance at 47.56 and minor to perhaps decent resistance between 48.87 and 49.35. Further resistance will be found at the $50 demilitarized zone which is additionally strengthened by the fact that 3 previous important lows at that level were made between December and June. Above that level, resistance will be found at the 200-day MA, currently at 53.30 and then nothing of consequence until decent resistance is found at the 200-week MA, currently at 57.95.
To the downside, LVS shows minor support at 40.00 and then nothing until the 5-year support lows between 34.72 and 37.23 are reached.
It must be mentioned that on every previous rally from the $35-$37 support area during the past 5 years, LVS has made a bee-line to the upside without any kind of a retest of the lows seen, meaning that it is likely the stock will need to be bought as soon as possible and at a level that will not offer a great risk/reward ratio, but will offer a high probability rating.
Given that LVS has rallied "at least" $11 on each rally from this support level, it would be safe to assume that if the same thing happens again this time that a rally up to "at least" the 47.53 level will occur. Nonetheless, with the $50 level being a psychological magnet and the 200-day MA currently at 53.30, the possibilities of a rally up to one of those levels is likely to occur.
In addition, there is a small possibility that if the stock gets momentum to the upside that the 200-week MA (currently at 57.95) will be targeted, given that line is a long term indicator of trend and getting up to the line will not mean the long-term trend has changed. It is a possibility that is viable as it would put the stock in a position to change trends (or resume the downtrend) depending on what the Fed and the market does in the first quarter of next year.
Purchases of LVS between 39.70 and 40.30 and using a mental stop loss at 36.43 and having an objective of 50.00, will offer a 2.5-1 risk/reward ratio.
My rating on the trade is a 3.75 (on a scale of 1-5 with 5 being the highest).
QRVO Friday Closing Price - 44.96
QRVO is a stock that has been on a downtrend since June when it got up to a high of 88.35, with the stock accelerating the downtrend after the July earnings report that was better than expected but with a negative guidance outlook. The stock has now fallen 52% from its all-time high but on Friday a key reversal day occurred, inasmuch as a new all-time low was made at 42.20 but then the stock closed above Thursday's high of 44.63.
QRVO is a stock that was previously given as a purchase mention in November (when it was RFMD) and purchased at an average price of 52.48 (based on the conversion) and liquidated in April at 75.34. Given that the stock has not received any strong negative fundamental news (other than lower guidance at its last earnings report), is presently trading at an all-time low (and below the previous purchase price), the positive key reversal seen on Friday, and that an end of the year rally in the market is expected to be seen, it does seem that it is a good time to purchase it again.
To the upside, QRVO shows minor resistance at 45.47 and at 49.15. Psychological resistance is expected to be found at the $50 demilitarized zone that is slightly strengthened by 1 previous intra-week low at 50.80. Nonetheless, above that level there is no previous intra-week resistance until minor resistance is found at 58.36, meaning that if the stock can get above the $50 level that it may gain some momentum. Decent resistance is found between the $60 demilitarized zone and the bottom of the gap area at 62.35 that got created after the last earnings report came out.
To the downside, QRVO has minor support at 42.73 and decent support at the reversal low seen on Friday at 42.24. It should be mentioned that as QRVO, the stock only has a 10-month chart history, meaning that the weekly chart is not yet dependable in determining what will happen but it is evident on that chart that resistance will be found between $60 and $63, meaning that for this mention that area will be the objective.
QRVO did close in the upper half of the week's trading range on Friday, suggesting further upside above last week's high at 46.97 will be seen. With absolutely no resistance above that level (other than psychological at $50), a green close next Friday could mean that a rally up to at least the 55.92 level (minor weekly closing resistance) will be seen.
Purchases of QRVO between 44.00 and 44.35 and using a stop loss at 42.14 and having a 55.92 objective will offer a 5-1 risk/reward ratio.
My rating on the trade is a 3 (on a scale of 1-5 with 5 being the highest). The rating would be higher if the trade was based on a reversal on the weekly chart instead of just a reversal on the daily chart.
FAVORABLE MENTIONS
The stocks mentioned below (without much explanation) do offer decent risk/reward ratios but not necessarily high probability ratings as the charts are not as clearly defined to meet my criteria for an official mention.
EDC Friday Closing Price - 13.25
EDC made a new 6-year low a few weeks ago at 9.47 but did not get down to its all-time low at 7.48, meaning that there is still a chance the stock could head lower. By the same token, if there is a short-covering rally in conjunction with the end of the year rally in the indexes, the stock has a "high" probability of rallying back up to the $20 level, meaning that the risk/reward ratio is good though the probability rating is not.
Purchases on EDC at 12.60 or better, and using a stop loss at 10.68 and having a 20.00 objective, will offer a 4-1 risk/reward ratio. Probability rating is 2.5-2.75.
DDD Friday Closing Price - 11.21
DDD is an Emerging Markets ETF that made a new 45-month low this past week. Emerging markets have been hit the strongest during this past correction and may rally decently if the world's markets do see an end of the year rally (as expected to be seen with the U.S. market).
DDD has no resistance above until the 20.00 level is reached, so if it starts to rally it could offer a nice profit and even a good risk/reward ratio. Nonetheless, the probability rating is low since the index still closed in the lower half of the week's trading range and the $10 psychological support might still work as a magnet, meaning that the index might head lower before it turns.
Purchases on DDD between 10.00 and 11.00 and using a stop loss at 9.43 and an objective of 20.00, will offer a 5-1 risk/reward ratio. My rating is a 2.5.
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Updates
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| Monthly & Yearly Portfolio Results
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Closed Trades, Open Positions and Stop Loss Changes
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Status of account for 2007: Profit of $9,758 per 100 shares after losses and commissions were subtracted. Status of account for 2015, as of 9/1 Loss of $3831 using 100 shares per mention (after commissions & losses) Closed out profitable trades for September per 100 shares per mention (after commission)
CAT (short) $1850
Closed positions with increase in equity above last months close minus commissions.
NFLX (short) $2596 Total Profit for September, per 100 shares and after commissions $7059 Closed out losing trades for September per 100 shares of each mention (including commission)
NONE
Closed positions with decrease in equity below last months close plus commissions.
PGR (short) $107 Total Loss for September, per 100 shares, including commissions $268 Open positions in profit per 100 shares per mention as of 9/30
KNDI (long) $18
Open positions with increase in equity above last months close. ENG (long) $0 Total $18 Open positions in loss per 100 shares per mention as of 9/30
ARNA (long) $17
Open positions with decrease in equity below last months close.
ARNA (long) $240 Total $2722 Status of trades for month of September per 100 shares on each mention after losses and commission subtractions.
Profit of $4087
Status of account/portfolio for 2015, as of 9/30Profit of $256 using 100 shares traded per mention.
AREX got down to the support at 1.86 with a drop down to 1.87 this past week but then bounced up on Friday to close in the upper half of the week's trading range, suggesting that further upside above last week's high at 2.32 will be seen this week. If that occurs, last week's low will not only become a successful retest of the 1.86 support but also of the all-time low at 1.65, meaning that a bottom to this downtrend will have been built. Minor resistance will be found at 2.64, very minor at 2.75 and then decent at 3.02. Any break above 3.02 will now be a buy signal on the weekly chart that would likely push the stock up to the $5 level. Very minor support is found at 2.00, a bit stronger at 1.86/1.87 and strong at 1.65. Probabilities favor the bulls this week.
ARNA made a new 43-month low this past week, getting down to the bottom of the 2.00 demilitarized zone with a drop down to 1.73. Due to the positive reversal in the indexes on Friday, the bulls were able to close the stock exactly in the middle of the week's trading range, suggesting that the traders will pivot this week on what the indexes do (which is likely to go higher). A close next Friday above 1.98 by at least 10 points would suggest that the 2.00 level (an important psychological support) will have been tested successfully on a weekly closing basis. Nonetheless, it is evident that the fundamental and chart picture for the stock remains iffy and leaning to the downside and that any strength seen will likely be index generated and not stock generated, suggesting that the upside is limited until such a time that the fundamental picture changes for the positive. To the upside and on an intra-week basis, minor resistance is found at 2.38 and then nothing until 2.62. Nonetheless, on a daily closing basis, resistance is considered minor but pivotal at 2.58. A confirmed daily close above 2.58 will suggest further upside will be seen. To the downside, pivotal support is now found at 1.70 that if broken would suggest the all-time low at 1.21 will be tested. Probabilities favor the bulls this week, but this stock needs a positive change in fundamentals to do anything more than simply generate a bounce. ENG had an uneventful week, with the stock seemingly stuck for the past 7 weeks between 1.00 and 1.08, based on a weekly closing basis. The stock did generate a reversal day on Friday, having gone below Thursday's low and then above Thursday's high and closing in the green, suggesting that the stock will go above Friday's high at 1.03 on Monday. Nonetheless, intra-week resistance is minor to perhaps decent at 1.10 that needs to be broken for further upside to occur (possibly up to the 1.24-1.31 level). Support is now likely pivotal at Friday's low at .94 that some intra-week support is found at .88. Probabilities favor the bulls this week but only for a rally up to 1.10. Further upside above that level is presently a 50-50 situation. FCEL generated a positive reversal week, having made a new 5-week low but then closing in the green and near the highs of the week, suggesting further upside above last week's high at .76 will be seen this week. If that occurs, last week's low at .67 will become a successful retest of the all-time low at .64, suggesting that a bottom to the downtrend has been built. Minor resistance is found at .85 and just a tiny bit stronger at .89 and at .92. Nonetheless, any daily close above .93 will suggest the 1.00 level will be tested and if broken (on a daily closing basis), a rally up to the 200-day MA, currently at 1.13, will likely be seen. Probabilities slightly favor the bulls. FSLR generated a positive reversal, having made a new 5-week low but then closing in the green and near the highs of the week, suggesting further upside above last week's high at 45.47 will be seen this week. More importantly, the stock closed above the 200-week MA, currently at 44.05, meaning that last week's close at 43.29 is now considered a successful retest of the MA line. A rally above last week's high will also mean that the week's low at 40.51 will be considered a successful retest of the August low at 40.25, all suggesting that a bottom to this recent downtrend is now in place and that the stock will now be moving to test the resistance levels above. To the upside, there is very minor intra-week resistance between 45.70 and 45.93, minor at 47.01 and then minor again between 49.00 and 49.30. Decent resistance is found at 50.46 that includes the 200-day MA, currently at 50.70. Minor intra-week support is found at 43.28, at 42.15 and at 41.55. Probabilities favor the bulls and a rally this week up near the 49.00 level. Possible trading range for the week could be something like 44.05 to 49.00. KNDI made a new 2-year low at 5.05 but the bulls were able to generate a bounce to close near the highs of the week, suggesting that further upside above last week's high at 5.77 will be seen this week. Nonetheless, the bulls failed by 5 points to generate a positive reversal (green weekly close), suggesting that a bottom may not yet have been built and that after a bounce the stock may return to retest the recent low or even get down to the 5.00 level. On an intra-week basis, very minor resistance is found at 6.10 and at 6.38 and minor to decent between 6.68 and 6.75. On a weekly closing basis though, minor to decent resistance is found at 6.22. Probabilities favor the stock heading up intra-week to 6.75 over the next week or two but then falling back to retest the recent lows. XOM generated a positive reversal on the daily chart on Friday, having gone below Thursday's low and closing above Thursday's high, as well as generating a close on the highs of the week, suggesting further upside above last week's high at 75.90 will be seen this week. Minor intra-week resistance is found at 75.98 but above that level there is open air until the $80 demilitarized zone is reached. The stock did give a small buy signal on the weekly chart, having closed on Friday above the most recent high weekly close at 75.07, as well as above an important high weekly close from November 2009 and 74.87, suggesting that a bottom to this recent downtrend is now in place and that the stock will work higher from here. Above 75.98, there is very minor intra-week resistance at 79.28 and then nothing until the 82.20-83.20 level is reached. To the downside, Friday's low at 73.03 is now considered minor but likely pivotal support. Probabilities favor the bulls and a rally over the next 2 weeks to the $80-$82 level.
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1) FCEL - Averaged long at 2.227 (4 mentions). No stop loss at present. Stock closed on Friday at .73.
2) ENG - Averaged long at 1.92 (3 mentions). No stop loss at present. Stock closed on Friday at 1.01.
3) FSLR - Averaged long at 59.404 (4 mentions). No stop loss at present. Stock closed on Friday at 45.46.
4) AREX - Averaged long at 6.013 (3 mentions). No stop loss at present. Stock closed on Friday at 2.17.
5) ARNA - Purchased at 2.08. Averaged long at 3.725 (4 mentions). No stop loss at present. Stock closed on Friday at 1.98.
6) PGR - Covered shorts at 30.44. Averaged short at 30.73. Profit on the trade of $58 per 100 shares (2 mentions) minus commissions.
7) PHM - Covered shorts at 18.93. Shorted at 22.06. Profit on the trade of $313 per 100 shares minus commissions.
8) PRAA - Covered shorts at 52.40. Shorted at 63.64. Profit on the trade of $1124 per 100 shares minus commissions.
9) KMX - Covered shorts at 58.00. Averaged short at 65.12. Profit on the trade of $1414 per 100 shares (2 mentions) minus commissions.
10) XOM - Averaged long at 76.825 (2 mentions). No stop loss at present. Stock closed on Friday at 75.88.
11) IBM - Covered shorts at 142.37. Averaged short at 146.68. Profit on the trade of $1294 per 100 shares (3 mentions) minus commissions.
12) CAT - Covered shorts at 65.56. Averaged short at 74.915. Profit on the trade of $1871 per 100 shares (2 mentions) minus commissions.
13) WMT - Covered shorts at 63.78. Averaged short at 64.705. Profit on the trade of $165 per 100 shares (2 mentions) minus commissions.
14) KNDI - Purchased at 5.07. Stop loss at 4.02. Stock closed on Friday at 5.73.
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The opinions and commentaries by Mr. De Vito are not a recommendation to buy or sell, but rather
a charting guideline, based on his own knowledge and experience, regarding the stocks he is following or
that are brought to him by others. Mr. De Vito does not presently offer a track record of his trading experiences.
No inference of success and/or failure should be assumed. The
information enclosed above, regarding his background, length of trading, and experience, is correct
but is not meant to suggest, state, or infer any future success in trading, based on his opinions. The information herewith included should only be used by investors who are aware of the risk inherent in securities trading. Mr. De Vito accepts no liability whatsoever for any loss arising from any use of the information and/or comments he supplies. |
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