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Issue #450 
October 25, 2015 | Newsletter
The newsletter with chart analysis for stocks and stock indexes |
Stock Indexes Analysis/Evaluation
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| Bulls Win Week, Confirmation Needed!
DOW Friday closing price - 17646
The DOW extended its rally, having rallied another 464 points above last week's weekly closing high, 1737 points over the past 4 weeks (10% increase), and 2309 points (13.1%) from the low made in August. The index closed on the highs of the week and further upside above last week's high at 17679 is expected to be seen this week.
The DOW closed above the 50-week MA on Friday, currently at 17600, for the first since it was broken to the downside 12-weeks ago when the recent correction began, suggesting that the low for the correction (15370) is now established. The 50-week MA has always been a valuable trend indicator for the index throughout its lifetime.
Nonetheless, it must be mentioned that for the past 7 years (since the uptrend began in 2009) the line has been broken to the downside a total of 3 times and on the 2 previous occasions (2010 and 2011), when the line was first broken back to the upside, it did not generate immediate resumption of the uptrend but generated a period of anywhere from 5-8 weeks where the index straddled the line repeatedly, including on both occasions generating another smaller correction within the next 5 weeks of anywhere from 7-9% before the uptrend began in earnest.
To the upside and on an intra-week basis, the DOW shows "general" resistance at 17700, minor resistance at 17776, and then nothing until the 18000 demilitarized zone is reached.
To the downside and on an intra-week basis, the DOW shows very minor support at 17465, at 17399 and minor support at 17279. Below that level, decent support is found at the 17000 demilitarized zone.
It is interesting to note that the DOW in 2011, after the low of the correction at 10404 was made, rallied back up to within 4.6% of the previous high seen prior to the correction (12284 from 12876) before a small (7%) but fast (4 weeks) correction back down (from 12284 to 11231) occurred. The high seen last week was 17679 and that is 3.7% from the all-time high at 18351, suggesting that it is possible that the high of this move has been made, if and when the index continues to mimic what happened in 2011.
It also needs to be mentioned that the DOW in 2011 closed on the highs of the week on October 28th (closed at 12255 and the intra-week high was 12284) but the bulls were unable to generate any follow through the following week, having had a high the following week on Monday at 12229. Just 20 trading days later, on November 25th, the index got down to 11231. As such, if no follow through is seen this Monday, the same scenario is likely to occur, especially since there are no reasons for the index not to see follow through to the upside this coming week.
Most of the important earnings reports of DOW stocks have already come out and as such, the index bulls must now depend on the momentum that was generated last week, as well as on the economic reports due out this week, to keep things moving forward. Economic reports have not been all that friendly to the market recently, meaning that the scenario mentioned above is viable and one that could come to fruition.
Probabilities do favor the bulls in the DOW this week but keep a close eye on the 17700 level as that is now likely a pivotal level.
NASDAQ Friday closing price - 5031
The NASDAQ outperformed the other indexes this past week, having rallied 3% above the previous week's close, while the other indexes rallied 2.5% (DOW) and 2.1% (SPX). The reason for the over-performance was that the index received 2 very good earnings reports in AMZN and GOOG, causing both stocks to make new all-time highs.
The NASDAQ closed convincingly above the 50-week MA, currently at 4900, and closed on the highs of the week, suggesting further upside above last week's high at 5048 is likely to be seen. It also needs to be mentioned that the index closed above the strong psychological resistance at 5000, giving notice that the door is now open for resumption of the uptrend, if a beachhead above 5000 is established.
On a possible negative note, the 5000 level in the NASDAQ has to be considered a magnet at this time, especially since there has not been any major change of fundamentals, and is likely to be seen and tested repeatedly before further resumption of the uptrend can seriously begin, suggesting that any follow through seen to the upside is not likely to go far.
It should also be mentioned that in 2011 the NASDAQ also closed convincingly above the 50-week MA (closed 78 points above the line the last week of October) but failed to generate any follow through, and did see an 11% correction (from 2753 to 2441) in the following 4 weeks, much like the DOW did as well.
To the upside and on an intra-week basis, the NASDAQ shows minor to decent resistance between 5092 and 5106. Above that level, there is decent resistance between 5163 and 5175 and major at the all-time high at 5231.
To the downside and on an intra-week basis, the NASDAQ offers minor to decent support between 4902 and 4945 that is strengthened by the 200-day MA, currently at 4925. Below that level there is minor but likely short-term pivotal support at 4836. Further minor support is found at 4771 and then nothing until 4600.
The NASDAQ is now showing a breakaway and runaway gap formation with the runaway gap being between 4926 and 4999 and the breakaway gap between 4707 and 4711. With there being no solid fundamental reason for the gap formation to have been built in the first place, the odds favor the gaps being closed. Given that in 2011 an 11% correction occurred "after" the 50-week MA was broken the first time, a drop back down to close both gaps is a viable scenario if the uptrend does not resume, especially if there is no follow through to the upside this week.
Based on the action seen in the NASDAQ this past week, as well as on the convincing close above 5000 level, which includes closes above the 50-week and 200-day MA's, both currently between 4900 and 4925, there is no reason for the bulls not to see follow through this coming week. This is especially true given that the index does not show any resistance of any consequence until the 5100 level is reached. As such, failure to see follow through will be evaluated as a negative sign and one that will likely cause the index to generate the same kind of correction (after the recovery) as was seen in 2011.
Probabilities favor the bulls in the NASDAQ this week. Nonetheless, in this case more will be said by failure than by accomplishment.
SPX Friday closing price - 2075
In just the last 3 weeks, the SPX has negated all the sell signals that were given in August, having closed above the important chart and psychological resistance at 2000, above the 200-day and 50-week MA's, both currently at 2060/2061, and on Friday closing above the 2040 weekly close support that held the index up between February and August, thus giving a failure-to-follow-through-to-the-downside signal. Having accomplished all of this, the index seems to now have "open air above" for an attempt at a new all-time high above 2134.
The SPX has been the index most supported of late, given that the financial industry has reaped the most benefits from the continuing low interest scenario. The index closed on the highs of the week and further upside above last week's high at 2079 is expected to be seen this week.
By the same token, the same chart scenario seen in the other indexes is also in effect in the SPX, meaning that if there is no follow through seen this week, or the follow through is minimal, that the index may mimic what happened in 2011. It should be mentioned though, that if the same scenario occurs now as in 2011, it is unlikely the index will drop back as much as the other 2 indexes will, given the support for the financial arena at this time.
In 2011, the SPX dropped 21.3% on the first correction and then dropped 10.5% on the second correction, which was half of the first. If the same scenario occurs now, and given that the first correction was 13.6%, it would suggest that the index will drop about 6.8% this time around, which would offer a downside target of 1935, if and when last week's high at 2079 is the high of this move.
To the upside and on an intra-week basis, the SPX shows minor resistance at 2079, at 2093, and at 2102. Above that level, decent resistance is found between 2114 and 2118 and then strong at the double top at 2132/2134.
To the downside and on an intra-week basis, the SPX shows minor to perhaps decent support between 2039 and 2044, minor but likely short-term pivotal support at 2117, and then minor again at 1990. Decent support is found at 1970/1972.
The SPX generated a rare gap on the daily chart on Friday when the index gapped up from 2055 to 2058. This is not an index that leaves gaps open, meaning that the gap will be a magnet for the traders, especially since the 200-day MA is currently at 2060 and is a line that is highly likely to be tested even if further upside is to come. As such, the bears do have some ammunition with which to draw the index back down to that area, meaning that the momentum to the upside seen on Friday does not have a "high" probability of continuing without some sort of pause being seen first.
What the SPX does on Monday could be important as there is previous intra-week high resistance (though minor) at 2079 and if the index opens lower and the bulls are unable to take the index above Friday's high on Monday, the probabilities for a second correction to occur (like in 2011) will increase.
Probabilities continue to favor the SPX heading higher but much could be decided for the short-term (next 4 weeks) by what the index does on Monday.
The bulls got the help they needed this past week when the earnings reports on AMZN, on GOOG, and on MSFT came in much better than anticipated. Nonetheless, the biggest help the bulls got was the conference call on Friday where Mario Draghi suggested/inferred that more stimulus could be seen in Europe in the near future. The traders used that information to generate rallies that broke chart levels of important resistance, suggesting that further upside will be seen and that the highs for the year may be at risk of getting broken before the end of the year.
The bulk of the important earnings reports are now out and it is likely that the traders this week will turn their attention back to the economic front, which could provide a different outlook for the market than what has been seen during the past 4 weeks. Housing information, Durable Goods, GDP Adv., and the always important and usually catalytic FOMC rate decision are scheduled for this week.
In addition, this week the traders are facing a chart scenario in which the action seen during the 2011 correction will be in play. A failure to rally the indexes above last week's highs may be a sign that a second correction, like what was seen in 2011, will occur over the next 4 weeks. As such, there is a lot of information, as well as chart action to be seen, that is likely to be indicative of what the indexes will do in the short-term.
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Stock Analysis/Evaluation
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CHART Outlooks
Though the bulls seemingly won the battle this week, the breakout that occurred needs to be confirmed and with the traders looking at the action seen in 2011, confirmation is not a given. As such, the same mentions given last week are on for this week as well.
This week the same 4 mentions given last week are in play again. The charts of the mentioned stocks still suggest the same chart scenarios remain. By the same token, the action in the indexes at the beginning of the week could change the outlook and as such, updates will be given on the message board if needed.
SALES
LVS Friday Closing Price - 49.19
LVS made a new 3-year low at 36.53 on October 1st and likely because of the rally seen in the indexes, as well as having reached a strong 5-year level of support at $36, the stock has seen a 27% recovery over the past 17 trading days. Nonetheless, due to the strong oversold condition of the stock, the rally in the overall market, and the level of support reached, the probabilities are high that the rally has been mostly short-covering and not new buying interest.
LVS is now reaching a level of resistance at $50-$51 that is almost as strong as the support found at $36, suggesting that the recent buying interest is likely to end and a retest of the recent lows occur.
To the upside and on an intra-week basis, LVS shows decent resistance at 50.50 and on a weekly closing basis, between 50.73 and 50.82 as that was a support level that lasted 2 years (from Feb13 to May15) and from which the fall to the $36 level occurred when the level was broken. In addition, there is additional daily close resistance at 52.60 from the 200-day MA that has not been broken to the upside for the past 15 months.
To the downside and on an intra-week basis, LVS shows minor to perhaps decent support between 45.74 and last week's low at 45.95, and minor at 43.70. Below that level, minor to decent intra-week support is found at the $40 demilitarized zone and then decent to perhaps strong at the recent low at 36.53.
Between March 2011 and January 2012, and again between June 2012 and December 2012, LVS traded mostly between $36 and $48/$50, having seen both those highs and lows on 7 different occasions during that period of time, suggesting a high probability of that happening again at this time.
Sales of LVS between 49.70 and 50.30 and using a stop loss at 52.75 and having an objective of 40.00, 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).
CVX Friday Closing Price - 91.24
CVX gave a strong sell signal in November of last year when the stock broke below the 200-week MA, currently at 112.30, for the first time since August 2010. It is evident that there were fundamental negatives with the company then, since the break to the downside occurred at a time when the indexes were still in a strong uptrend from which further upside of consequence occurred. The downtrend began in earnest in April, after the stock tested the 200-week MA successfully, as the stock got into a 15-weeks-in-a-row string of red closes that included breaking a previously confirmed support at $100. The end result was a drop down to 69.58, a low that was seen on August 24th.
CVX has seen a 24% rebound off of the August lows and did close near the highs of the week on Friday, suggesting further upside above last week's high at 91.93 is likely to be seen this week. Nonetheless, this rally has likely been mostly short-covering after the 49% drop in price during the last 15 months, as well as some affinity to the rally seen in the indexes over the past 8 weeks.
To the upside, CVX shows very minor resistance at 93.81, minor at 95.79 and decent at the $100 level (based on a weekly close). On a daily closing basis, decent resistance is found at the 200-day MA, currently at 97.30. Nonetheless, it should be mentioned that the stock shows decent to perhaps strong intra-week resistance from July-December 2007 between 95.00 and 95.30.
To the downside and on an intra-week basis, CVX shows very minor support at 89.14, minor 87.29 and minor again at 82.29. Below that, minor to decent support is found at the $80 demilitarized zone and then again between 74.30 and 75.10. Strong support is found at the August low of 69.58.
Though the action seen in CVX over the past 4 years does suggest the bulls are likely to attempt to get back to the important and pivotal $100 level, the level of weakness seen during periods of strength in the indexes, as well as the fact that the stock hit a brick wall between July and December 2007 at the $95 demilitarized zone, does suggest that the bulls will fail in their attempt to reach either the 200-day MA, or the $100 level.
CVX generated a very minor red weekly close on Friday that suggests that selling interest is starting to be seen. Nonetheless, the stock closed near the highs of the week and further upside above last week's high at 91.93 is expected to be seen, suggesting that there is a possibility that the stock will get up this week to (or near) the desired entry point.
It should be remembered that the major low in CVX at 69.53 does not show a spike low retest of that level, suggesting that when the stock finds resistance that a fast and likely strong move down will occur.
Sales of CVX between 94.70 and 95.30 and using a mental stop loss at 95.89 or a daily close stop loss at 97.87 and having an 80.00 objective will offer at least a 4-1 risk/reward ratio.
My rating on the trade is a 3.25 (on a scale of 1-5 with 5 being the highest). The rating would be higher if there was a clear resistance level that could be used as a reliable stop loss.
PURCHASES
WMT Friday Closing Price - 58.30
WMT received a disappointing earnings report the previous week, as well as reported lower than expected guidance which caused the stock to drop 12% in value over a period of 3 days. Nonetheless, the company is one of the stalwarts of the economy and with the drop in price seen the last 2 weeks, it has reached a level of support between $57 and $60 that should hold up, especially considering that the overall market is on a rally that might continue for the next few months.
WMT previously traded in this area ($57-$63) between November 2011 and May 2012, which was also the time frame when the indexes were recovering from the strong correction seen in May-Oct 2011, suggesting that the stock has a decent likelihood or repeating the action seen at that time.
WMT made a new 3-year low this past week in spite of the indexes rallying, suggesting that further downside is likely to be seen this week even if the market continues higher. The stock closed on the lows of the week, suggesting further downside below last week's low at 58.22 is expected to be seen this week. Nonetheless, if the stock does go lower it will be reaching a level of support that is likely to generate some buying interest even if the indexes head lower.
To the upside and on an intra-week basis, WMT will show minor resistance at the $60 demilitarized zone (59.70-60.30), some minor to perhaps decent intra-week resistance at 62.57 as well as minor to decent daily close resistance at 63.34 that was the level of support that got broken when the earnings report came out.
To the downside, WMT shows minor to decent intra-week support at 57.18 and minor at 56.32. Nonetheless, on a weekly closing basis, there is minor to decent weekly close support at 56.89 (seen the third week of November 2011) that is further strengthened by a previous high weekly close at 56.70 that was seen the third week of January 2011.
The probabilities seem to favor WMT trading between the $57 and $63 level for the next 3 months while the traders await what the overall market will do in 2016.
Purchases of WMT between 56.70 and 57.30 and using at 56.23 stop loss and having a 63.00 objective will offer a 6-1 risk/reward ratio.
My rating on the trade is a 3 (on a scale of 1-5 with 5 being the highest).
GPS Friday Closing Price - 26.63
GPS is a company that has been mostly in a fundamental free-fall drop due to an unfavorable outlook for the company in the retail clothing business. Nonetheless, the stock has already fallen 43% in value over the past 13 months and is nearing a level of support at $25 that has been important and pivotal during the past 14-years, given that it was a major double-top intra-month high that lasted 11 years (between 2001 and 2012) before it was broken to the upside.
In addition, the $25 level in GPS also represents the 200-month MA, which is certainly a line that represent the long term outlook of the company. It is unlikely that at this time that line will be broken, suggesting that at the very least a decent bounce will be seen when that level is reached.
GPS closed in the lower half of the week's trading range and further downside below last week's low at 26.56 is expected to be seen. Nonetheless, with the index market facing a pivotal week, the traders are not likely to do anything until some short-term decisions are made by the overall market. If the indexes head lower (as I believe they will), the stock is likely to continue lower and if the recent low at 25.95 is broken, the probabilities will increase that the stock will get down to the desired entry point level at 25.00. If the indexes head higher though, and the stock closes the gap up at 28.14, this trade will no longer be viable.
To the downside, GPS shows intra-week support between 25.02 and 25.19 as well as weekly close support from a previous high weekly close of consequence at 26.06.
To the upside and on an intra-week basis, minor to perhaps resistance is found at 26.83 and then decent at the $30 demilitarized zone that does a level of support that held up strongly for 3 years between July 2012 and October 2015.
The purchase trade in GPS is based mostly and the important and long term support on the chart at $25, the strongly oversold condition of the stock and the rally being seen in the index market. Nonetheless, the profit potential is limited (probably no more than a rally to $30) as the fundamental outlook needs to change before the bulls can aspire to more.
Purchases of GPS between 25.00 and 25.30, using a stop loss at 24.65 and having a 30.00 objective, will offer a 7-1 risk/reward ratio.
My rating on the trade is a 2.75 (on a scale of 1-5 with 5 being the highest).
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Updates
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| Updates on Held Stocks |
Closed Trades, Open Positions and Stop Loss Changes |
| AMT generated another strong green weekly close, having closed 3% above the previous week's close as well as on the highs of the week and further upside above last week's high at 99.94 is expected to be seen this week. Nonetheless, the stock has reached a level of previous intra-week (as well as psychological) resistance at $100 that has been in place since December, having seen highs of 101.47, of 101.88, and of 101.54 during the past 10 months. On a weekly closing basis, resistance is decent to perhaps even strong between 99.63 and 101.08, with 101.08 having been a successful retest of the all-time weekly closing high at 105.01. The company reports earnings on Thursday before the opening and it is likely that report will set the stage for what the stock will do the rest of the year. Based on the chart though, the stock will likely "need" better than expected earnings or resumption of the uptrend in the indexes to break above the resistance levels that are found between $100 and $101. Any disappointment this week, will offer a swift move back down to the 95.00 where there is previous support, as well as the 200-day MA. Probabilities favor the bulls this week, but on a limited basis until the earnings report comes out. AREX seems to be in a waiting mode as the stock has traded for the past 8 trading days within a 38 points trading range between 2.34 and 2.72. On a slightly positive note, the bears have been unable to close the stock below the 50-day MA, currently at 2.41, though it has traded down to the line every single day during that period of time. The stock did close in the lower half of the week trading range and further downside below last week's low at 2.34 is expected to be seen this week. The chart suggests at this time that the stock is more likely to test the support at 1.87 than test the resistance up at 3.02. Probabilities slightly favor the bears. ARNA generated an uneventful week, given that neither the previous week's high or low (2.45-2.14) was broken, The stock did close near the highs of the week and further upside above last week's high at 2.38 is expected to be seen. Resistance is still found between 2.58 and 2.62 that is unlikely to get broken until after the company releases earnings before the open on Tuesday, November 3rd. Chart is unfilled as there has not yet been a retest of the 1.72 low, meaning that if earnings disappoint, a drop back down to at least the 2.00 level will occur. Probabilities favor the bulls this week but then only for a rally up to the 2.58-2.62 level. DXD got down close to the all-time low at 19.92 with a drop down to 20.03 on Friday. The stock is related to the DOW as an exact opposite, meaning that if the index heads higher the stock is likely to make a new all-time low below 19.92. By the same token, if the DOW does not see any follow through to the upside, the stock is likely to head higher as well, meaning that the 19.92 low will have been tested successfully. Resistance is found at 21.59 that does include the 200-day MA, currently at 21.45. Further resistance is found at 22.00 that if broken would suggest the gap between 22.93 and 23.21 will be tested and likely closed. Probabilities favor the bears but Monday is likely to be a pivotal day, especially as far as the close is concerned. ENG continues to trade totally sideways between .88 and 1.10, something it has done for the past 2 months. Nonetheless, the stock did generate a reversal week, having made a new 8-week low and then closing in the green and near the highs of the week, suggesting further upside above last week's high at 1.04 will be seen this week. Company reports earnings on Thursday, November 5th before the opening and that earnings report will likely set direction for the next few months. Probabilities favor the bulls this week but likely for no more than a rally back up to the 8-week high at 1.10. Thereafter it will all be about the earnings report. FCEL seems to be in the process of generating a second retest of the all-time low at .64. The stock already shows 1 successful retest of the low with a drop down to .67. Stock still shows an open gap between .73 and .76 that is likely to be a magnet since the gap was not created off of news. The stock closed in the lower half of the week's trading range and further downside below last week's low at .79 is expected to be seen this week. Closure of the gap is likely but a second successful retest of the low would build a strong bottom from which a short-covering rally of consequence would likely occur. Resistance is found at .95 and at 1.00. If both of those levels are broken, a bottom will have been "established". Earnings report is not due out until December. More backing and filling action is expected to be seen. FSLR generated a red weekly close, making the previous week's close at 52.05 into a double high on the weekly closing chart using the close seen the first week of August at 52.08. Nonetheless, the bulls maintain the edge, given that the stock traded below the 50-week MA, currently at 50.20, as well as below the psychological support at $50 (having seen a low of 49.10 this past week) but then rallying to close above both on Friday. The stock did close in the lower half of the week's trading range and further downside below 49.10 is expected to be seen this week. Intra-week support is found at 49.01 and then nothing until 47.04. Probabilities favor the bears this week but overall they favor the bulls for the longer term. A weekly close above 52.08 would now be a decent buy signal. HAL generated a "small" reversal week, having made a new 2-week low but then closing in the green and on the highs of the week, suggesting further upside above last week's high at 40.00 will be seen this week. The positive reversal occurred when the company reported slightly better than expected earnings on Monday. If the stock does get above last week's high, it will make last week's low at 36.83 into a second successful retest of the August low at 30.93. By the same token, the stock remains in a downtrend that has been in place since September 2014 and that won't even "begin" to be doubted unless the bulls can generate a weekly close above 40.49 and even then, there is quite of bit of weekly close resistance between 39.65 and 39.76 that is unlikely to be broken unless the indexes can continue higher this week. Based on the fact that the company has already reported earnings and the bulls were unable to make a statement this past week, it is evident the bulls will need the help of the index market to go higher. Short-term pivotal support is found at last week's low at 36.83. A break of that level will likely push the stock down to the slightly strong intra-week support at 34.36 and a break of that level will push the stock to test the August low at 30.93. Major support is found between $27 and $30, which does include the 200-month MA, currently at 29.70. Probabilities are even and likely dependent on what the indexes do this week. LVS generated a red weekly close, making the previous week's close at 49.72 into a successful retest of not only the psychological resistance at $50 but also of the previous low weekly close support at 50.73-51.64 that when broken generated the move down to 36.53. The 36.53 low was a 3-year low and at a level of long-term support, meaning that it is likely that low is not at risk of being broken. By the same token, having made a 3-year low, the probabilities are high that it will be retested before further upside above $50-$51 can be considered possible. The stock did close on the highs of the week and further upside above last week's high at 49.54 is likely to be seen this week. Resistance is decent at the 50.00 demilitarized zone and a bit stronger at 50.50. A break above 50.50 will likely take the stock up to the 200-day MA, currently at 52.60. Support is minor to decent but certainly short-term pivotal at 46.11. Below that level it is mostly "open air" until the 40.00 level is reached. Probabilities favor the bulls at the beginning of the week but then likely only for a rally up to the 50.00 demilitarized zone.
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1) FCEL - Averaged long at 2.227 (4 mentions). No stop loss at present. Stock closed on Friday at .83.
2) ENG - Averaged long at 1.92 (3 mentions). No stop loss at present. Stock closed on Friday at 1.02.
3) FSLR - Averaged long at 59.404 (4 mentions). No stop loss at present. Stock closed on Friday at 50.43.
4) AREX - Averaged long at 6.013 (3 mentions). No stop loss at present. Stock closed on Friday at 2.48.
5) ARNA - Averaged long at 3.725 (4 mentions). No stop loss at present. Stock closed on Friday at 2.34.
6) XOM - Liquidated at 82.85. Profit on the trade of $1205 per 100 shares (2 mentions) minus commissions.
7) KNDI - Shorted at 8.98. Covered short at 9.36. Loss on the trade of $38 per 100 shares plus commissions.
8) QRVO - Liquidated at 50.66. Profit on the trade of $1929 per 100 shares (3 mentions) minus commissions.
9) KNDI - Shorted at 9.34. Stop loss at 10.35. Stock closed on Friday at 9.02.
10) HAL - Shorted at 39.67 and at 39.84. Averaged short at 39.755. Stop loss at 41.38. Stock closed on Friday at 39.21.
11) AMT - Shorted at 99.31. Stop loss is at 101.64. Stock closed on Friday at 99.17.
12) LVS - Shorted at 48.66. Stop loss is at 50.60. Stock closed on Friday at 49.19.
13) DXD - Purchased at 20.78. No stop loss at present. Stock closed on Friday at 20.13.
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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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