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Issue #705 
Jan 31, 2020 | Newsletter
The newsletter with chart analysis for stocks and stock indexes |
Stock Indexes Analysis/Evaluation
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| Momentum Stalls, Seasonal Correction Likely Has Begun!
DOW Friday closing price - 29982
All indexes generated a down week in which they gave up over 3% in value. All indexes closed on or near the lows of the week, suggesting further downside below last week's lows are likely to be seen (DOW below 29856, SPX below 3694, and the NASDAQ below 12985). In the case of the latter two indexes, they both generated key reversals, meaning a new all-time highs and then a close below the previous week's lows. In the past, key reversals often point to a change of trend but recently they have only pointed to a correction. It is not known at this time which it will be but the probabilities favor a correction and not a trend change. Both of these indexes (SPX and NAZ) generated a key reversal in August and those reversals turned out to be corrections (not trend changes) but they did generate drops of 10.6% and 12.1% (respectively) over the next 4 weeks. If that same situation occurs now, it would suggest the SPX would drop down to somewhere around 3459 and the NASDAQ down to around 12066 before the correction ends.
All indexes generated a breakout to new all-time highs in October or November and chart-wise, a retest of those previous highs is normal and likely to occur. In the DOW the previous all-time high weekly close is at 29398, in the SPX it is at 3508 and in the NASDAQ it is at 11695, suggesting that the correction objectives, based on the previous key reversal corrections, are not only viable but likely to be slightly surpassed. Keep in mind that corrections are normal and do not change the trend, so this evaluation of what is likely to happen to the index market over the next 3-5 weeks is still within the context of the bull market continuing. Then again, it does need to be mentioned that the change of administration does mean that many fundamental things will occur and it does open the door for a downtrend to begin, if and when the fundamentals support such a change when the correction objectives have been reached.
For now though, most everything is now supporting a correction given that over the past 2 weeks the earnings reports have generally been better than anticipated but selling was the end result. This coming week is the 3rd week of the first 3 weeks of the important earnings reports and if the big companies that still have reports due out (AMZN and GOOGL - both on Tuesday) do not come out with overwhelmingly good news, the earnings report quarter will end up having no further impact. Due out this week are also the 2 most important economic reports for the month (ISM Index and Jobs) and given that economic reports have not improved substantially over the past month, it is not expected that these will have any positive impact of note. In addition, the pandemic still rages on and is not likely to start subsiding until spring or even summer and therefore there are few positives the bulls can latch onto to stop a much needed correction, especially now when the momentum to the upside has come to a halt and is no longer giving the bulls ammunition to take the indexes higher until a new support level is built.
The DOW is most likely to be the first one to reach its previous all-time high at 29398 and perhaps even give a failure signal with a close below that level. Nonetheless, the index has not been the key index and therefore its signals have not been dependable. There is minor intraweek support at 12755 but other than that, there is no intraweek support below until 28169. There is an additional magnet below in the form of a gap down at 28234 that truly has no reason to stay unclosed. On a weekly closing basis, the previous all-time high weekly close could hold up but intraweek that is certainly a viable downside objective. If that level is reached, the index will have seen a 10% correction from the highs. Definitely viable. In the SPX the intraweek support levels are found at 3662 and again at 3636. The former is pivotal and minor to decent and the latter minor, meaning that if 3662 is broken, getting down to the objective of the correction at 3459 becomes viable. By the same token, there is no intraweek support built between 3636 until 3233 is reached, meaning that stopping at 3459 is not necessarily going to happen. The support there is on a weekly closing basis. In the NASDAQ there is intraweek support at 12543 that is short-term pivotal. Below that, there is no intraweek support 10800. Nonetheless, on a weekly closing basis, the support is decent at the previous all-time weekly closing high at 11671.
It is evident that attention will be on the NASDAQ as that has been the bull to the upside with its tech stocks that have improved with the pandemic. As such, and for the short term, the 12543 level is absolutely pivotal. The index closed on Friday at 13070, meaning that just to reach that level, a drop of 527 points needs to occur. Evidently, the reports on AMZN and GOOGL this week can generate that kind of a drop, especially if worse than anticipated. On Thursday, AAPL reported much better earnings but ended up dropping 4% in value. As such, if that same kind of action is seen in these earnings reports due out this week, a drop down to that level could occur in the index as it closed on Friday 4% above that pivotal support area. This area will be the key this week.
All indexes generated a rally on Thursday that threatened to disrupt the beginning of the correction. That rally was negated on Friday with lower lows but it does make last Thursday's highs pivotal resistance at this time (in the DOW at 30951, in the SPX at 3820 and in the NASDAQ at 13507). If those highs are broken, this evaluation will "go out the window".
Evidently the week will pivot on Wednesday after the AMZN and GOOGL reports are announced Tuesday evening. The Jobs report comes out on Friday but the last one did not have a positive impact so it is unlikely this one will. The ISM index report comes out on Monday but it too did not have much of an impact last month and the same is likely to apply to this one. Probabilities favor the bears this week.
OIL continued to idle as the traders await new news. Oil closed at 52.20 and when added to the 3 previous weekly closes at 52.24, at 52.36 and at 52.27, it is clearly evident that neither the bulls nor the bears have any kind of an edge at this time. It must be noted though, that when looking at the daily closing chart, there is a potentially bullish triangle or flag formation in place and therefore there is a slightly higher probability of a breakout than a breakdown. To the upside, any daily close above 52.85 could now get the domino effect to the upside, while a daily close below 52.20 (Friday's close) could do the same for the downside. Nonetheless, the formation itself favors the bulls slightly. Either way and after 4 weeks or idling, it does suggest that something of consequence will happen this week or at the latest the next. The upside objective of a breakout above 52.85 would be a rally up to the $55 level while a close below 52.20 would be 49.10. Neither side has a probability rating for this week.
DOLLAR generated a green weekly close. It was not indicative given that nothing was broken. The traders seem to be waiting for a catalyst to get it moving higher or lower. Any weekly close above 90.77 would suggest a rally up to the 92.81 level, while any weekly close below 89.94 would suggest a drop down to 89.07. Right now and like with Oil, neither side has a probability rating for this week.
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Stock Analysis/Evaluation
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CHART Outlooks
It does seem that the index market is into a corrective phase and further downside is to be seen. Nonetheless and given that stocks and the indexes fell quite a bit last week and the natural reaction over the past year is to buy dips, offering sell mentions at this time (especially holding quite a few stocks short already) does not offer good risk/reward ratios or high probability ratings.
As such, I decided to key on the industries that are likely to be heading higher, meaning Gold and the clean energy sector, in which the latter has been on a roll recently and the former is seemingly at the end of a corrective phase. I have 2 mentions this week and both have decently high probability ratings.
PURCHASES
FNV Friday Closing Price - 119.33
FNV has reached its previous all-time high weekly close at 119.18, having closed on Friday at 119.33. Gold remains in its bullish long term outlook and this company has in the past and for the entire lifetime of 10 years been the one that has been the most bullish when Gold goes up and still bullish when Gold does not go up, given that it is not a Gold mining company but a company that loans to them. The stock has corrected 28% from its highs but there has been no negative news to support the drop, suggesting it has simply been a correction from the extended high that it reached in August at 166.11.
Chart-wise, FNV is oversold and at a level where it is expected to turn around. A green close should be seen next Friday if and when the fundamentals of Gold or the company have not changed. No recent news on either.
FNV did close on Friday below the previous all-time high daily close at 120.62 but that break has not yet been confirmed, meaning that if the stock closes on Monday above that level, that break of support will be negated. Then again, the weekly close is always more important than the daily close, meaning that next Friday's close is the important one. By the same token, if the bulls are able to close above 120.62 on Monday, the probabilities for the bulls will increase substantially.
The only problem with the trade is that there is no intraweek support close by below, meaning this trade has to be done without a stop loss to limit the loss or even give a risk/reward ratio. That will definitely change by next Friday and perhaps even before but given that the stock should be bought on Monday, I cannot offer either (stop loss or risk/reward ratio). I do feel the trade has a high degree of probability and a move back up to at least the 200-day MA, currently at 138.87 is highly likely.
Purchases of FNV at Friday's price or hopefully below last week's low at 118.77 should be considered. No risk/reward ratio offered at this time. Probability rating 3.75 or better (on a scale of 1-5 with 5 being the highest).
LNG Friday Closing Price - 63.33
LNG is a clean energy stock in an industry that has been on a roll to the upside since Biden won the Presidency. For example, ENG, a stock I had been trading for years, recently moved up from $1 to $9 and like that there are many examples in the industry of clean energy stocks that have soared in price over the past few months. This stock has also seen a big 52% rally since Biden won. I did look up about 8 stocks in that industry this weekend and I could only find 2 that are near defendable support levels where a trade can be done with a limitation of risk and a good risk/reward ratio. This is one of them.
LNG did get up 2 weeks ago to a weekly closing level between $67 and $70 that has been major resistance for the past 30 months and did back off, having dropped in price 16% over the past 2 weeks. Nonetheless, this past week and after that big drop down to 58.26 occurred, the stock rallied to close in the upper half of the week's trading range, suggesting that there is quite a bit of buying interest around the $60 level. This was no surprise (the buying interest in that area) given that between June 2018 and January 2020, the $57 to $58 level was strong support. That entire time frame (18 months), the stock traded in that trading range between $55-58 and $67-70. Given that there are many tops on the chart in that upper area but now the clean energy sector is aflame, it stands to reason that the probabilities of a breakout are much higher than a breakdown. The all-time high weekly close in LNG is at 84.16 and that high was made in 2014. If the 69.50 weekly close resistance is broken, the all-time high will become the objective.
During the past 10 months of the rally, LNG has only had 1 correction of note, meaning that most of the rally was straight up. Having reached a strong level of resistance and being overbought, it had to be expected that some correction would occur and this seems to be what is happening. On a weekly closing basis, support is found at 58.69, at 58.15 and at 57.11. It also needs to be mentioned that the 200-week MA is currently at 56.26.
LNG is expected to go above last week's high at 66.17 this week but the stock did close near the low of the day on Friday, suggesting the first course of business for the week will be to the downside, likely to test the 58.26 low that was made this past week. A drop down to the $60 demilitarized zone is a definite possibility and should be used to purchase the stock.
To the upside and on an intraweek basis, LNG shows resistance at 68.35 and at 69.35. Above that level, there is stronger resistance between 70.49 and 71.03 but it must be mentioned that there is a triple top in that area and therefore a magnet for breakage.
Purchases of LNG around the $60 demilitarized zone and using a stop loss at 56.27 and having an 83.16 upside objective, offers a 6-1 risk/reward ratio.
My rating on the trade is a 3.75 (on a scale of 1-5 with 5 being the highest).
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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 2020: Loss of $16,684 per 100 shares after losses and commissions were subtracted. Status of account for 2020, as of 1/1 Profit of $0 using 100 shares per mention (after commissions & losses) Closed out profitable trades for January per 100 shares per mention (after commission)
W (short) $4565 CAT (long) $2785 (1 day trade) CAT (short) $646 (3 day trades) AXP (long) $964 (1 day trade) W (short) $6939 (3 day trades) Closed positions with increase in equity above last months close minus commissions. ENG (long) $1151 Total Profit for December, per 100 shares and after commissions $17,050 Closed out losing trades for January per 100 shares of each mention (including commission)
W (short) $354 (3 day trades)
QQQ (short) $78 Closed positions with decrease in equity below last months close plus commissions. NONE Total Loss for December, per 100 shares, including commissions $432 Open positions in profit per 100 shares per mention as of 1/31
FPRX (long) $587
Open positions with increase in equity above last months close.
CRON (long) $1364
AU (long) $504 AXP (short) $1395 CNX (long) $374 BTZI (long) $12 SRUTF (long) $1 Total $4,237 Open positions in loss per 100 shares per mention as of 1/31
PFE (long) $50
NEM (long) $300 FNV (long) $1113 Open positions with decrease in equity below last months close.
W (short) $9302 Total $11,143 Status of trades for month of January per 100 shares on each mention after losses and commission subtracted.
Profit of $9,712
Status of account/portfolio for 2021, as of 1/31
Profit of $9,712 per 100 shares.
AU went above the previous week's high and generated a green weekly close, meaning the previous week's low at 21.98 is now a successful retest of the November low at 20.15. The stock closed slightly in the lower half of the week's trading range, suggesting further downside below last week's low at 23.03 will be seen this week. Nonetheless, the traders seem to be waiting for some catalyst to generate some clearer direction. By the same token, the stock remains in a long term uptrend and above the previous 9-week weekly closing high at 22.75, meaning that the bulls have a slight edge. There is no resistance above until the recent high at 25.75 is reached. Further resistance on a daily closing basis is found at the 200-day MA, currently at 26.27. To the downside, the 21.98 level is support that if broken would give the bears some new (but slight) chart ammunition. Probabilities slightly favor the bulls but until some catalyst occurs, the probabilities favor only a slight bias to the upside.
AXP tumbled 11.2% in value this past week even though the earnings report came out better than anticipated. The stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at 112.10 will be seen this week. The stock did generate a sell signal on the weekly closing chart, having closed on Friday below the previous low weekly close at 117.35 (closed at 116.26) and that opens the door for further downside. Nonetheless, on the daily closing chart no sell signal has yet been given though on Wednesday the stock did close slightly below a previous low daily close at 114.55 with a close at 114.09. That sell signal was not confirmed. That level has now become short-term pivotal support. The daily close support that is truly pivotal is found at 111.10, which if broken would likely thrust the stock down to the 200-day MA, currently at 103.23. On a weekly closing basis, there is decent support at 114.41 and then more important at 109.73. Any daily close above 118.97 (120.38 on an intraweek basis) would take away a good portion of the sell pressure. Probabilities favor the bears but there are several levels of support that need to be broken for them to take short term control. BTZI generated a new 11-month intraweek high, having gone above the previous one at .055 with a high this past week at .0567. Nonetheless, the bulls failed to confirm the breakout, having closed once again in the same area that it has closed around for the past 12 weeks. The stock did close in the lower half of the week's trading range, suggesting further downside below last week's low at .041 will be seen this week. Nonetheless, the fact that Cannabis stocks seem to be "in vogue" with the Biden administration, the probabilities favor the bulls. Once the bulls are able to make a bullish statement (a weekly close above .0545), purchases should be considered. Any weekly close above .073 is likely to cause the stock to double in price as there is no resistance above that level until the 200-week MA, currently at .16, is reached. With penny stocks being in the news recently and some moving aggressively, keeping a close eye on this stock is important and it is a Cannabis stock and that is one industry that is likely to be helped by the Biden administration. CAT continued the corrective phase it started the previous week, having generated a 2nd red week in a row with a drop of 6.4% in price and a close in the lower half of the week's trading range, suggesting further downside below last week's low at 179.34 will be seen this week. The stock did get down to a small area of support around the $180 level that did generate a bounce up on Thursday. Nonetheless, on Friday the stock generated a negative reversal day after having closed the down gap made on Wednesday, which suggests further inroads into the minor area of support that is found all the way down to 175.11. A break of that level of support would suggest the previous all-time weekly closing high at 170.41 will be tested before any new buying interest is seen. Some intraweek resistance will now be found at 183.81 but it is not pivotal resistance so if broken, it would not mean much higher levels are to be seen. By the same token, if reached but not broken, it will give the bears additional ammunition. The probabilities are starting to favor the bears and a drop down to the $170 level but it must be kept in mind that the support at $170 is only on a weekly closing basis. No intraweek support is found until 149.63 is reached. The stock reported earnings on Friday and they were much better than anticipated and yet a negative reversal day occurred. Not a good short term positive sign, given that the indexes seem to be heading lower. Probabilities favor the bears. CNX generated an uneventful inside week and a close $.02 cents below the previous week's close, which by the way was also an inside week. The stock did close in the lower half of the week's trading range, suggesting a slightly higher probability of going below last week's low at 12.00 than above last week's high at 13.60. By the same token, the stock did the same thing the previous week and yet generated an inside week. On a strong positive note, the stock has now stayed 3 weeks above the 200-week MA, currently at 11.50, and that suggests the breakout has now been totally confirmed. The stock is showing a bullish flag formation with the flagpole being the rally from 10.01 to 14.09 and the flag being the trading range seen the past 9 days with the 11.85 low. As such, a break above 14.09 would offer a 15.93 objective. Support is found at 11.85 and at 12.00. The stock closed near the low of the day on Friday and the probabilities favor more downside on Monday 12.58. I would venture a guess and say that a drop down to around 12.15 will be seen, followed by a move back up to 13.32 level and another inside week occurring. Nonetheless, since the stock is in a short-term uptrend, if there is a change to this outlook, it will probably be to the upside. Probabilities slightly favor the bulls. CRON generated another red week as the traders are figuring out what is to come next and more importantly, when. Nonetheless, the stock has now remained above the 200-week MA for 4 weeks and that means the bulls are presently in control. The $10 psychological support area was visited this past week with a drop down to 9.81 but buying interest was found there as a bounce up to 11.07 occurred. The stock closed slightly in the lower half of the week's trading range, suggesting a slightly higher chance of going below last week's low at 9.81 than above last week's high at 11.07. Nonetheless, the overall formation remains bullish looking as it seems that a bullish flag formation might be in the process of being formed. The flagpole being the rally from 6.90 to 11.75 and the flag being the trading back down to 9.81. A drop as low as 9.70 would keep the flag formation intact. If this flag is formed, the upside objective would be 14.55 (using 9.70 as the bottom of the flag). This fits in well with the intraweek resistance that is presently in place at 13.95 and at 15.30. There is now some support at 9.81 but also at the bottom of the $10 demilitarized zone at 9.70. Below that, there is support at 9.50 and stronger at 9.00. To the upside, evidently the 11.75 high is resistance but there will also be resistance at last week's high at 11.07 if the stock goes below 9.81. Overall, the probabilities favor the bulls but it is also probable that for the next 2-3 weeks the traders will be building a new support base from which to launch the rally up to the $14 level. FNV generated a new 9 month intraweek and weekly closing low and closed on the low of the week, suggesting further downside below last week's low at 118.77 will be seen this week. Nonetheless, this is a very pivotal area for the stock as the previous all-time weekly closing high is at 119.18 and the stock closed on Friday at 119.33, meaning that a green weekly close next Friday will mean that previous all-time weekly closing high will have been tested successfully. This is a stock that since 2013 (8 years) has only generated 1 failure signal on the weekly closing chart to the uptrend and that failure signal came in 2017 when the stock barely got above the previous al-time high by only 3.5% and also built a double top on that occasion. On this occasion, the stock got above the previous all-time high by 25.5% and has no double top built, meaning that the probabilities of a failure signal being given are minimal, especially considering that Gold has built a new base of support and is now moving higher. As such, this level is a great level to buy this stock this week. The problem that exists is that there is no intraweek support below close by and how far this stock may drop intraweek is unknown. The probabilities do favor a green weekly close next Friday, but where to buy is the question and then the buy has to be without any stop losses based on previous support. If a positive reversal week occurs, the chart suggests that a rally at least back up to the 200-day MA, currently at 138.87, is likely to occur. One thing to watch for on Monday is that the previous all-time daily closing high is at 120.62 and since the stock broke that on Friday, it would suggest the bulls will buy the stock on Monday, below last week's low in an attempt to negate that break. If that does not occur, I do not have a clear desired entry point to give at this time. I do believe the probabilities favor the bulls for a green close next Friday. FPRX was the star of the portfolio this past week, given that the stock generated a 2nd green weekly close in a row, confirming the successful retest of the 200-week MA, currently at 14.29, with the stock having closed at 14.22 3 weeks ago. This was a normal thing to see given that the stock had been below the MA line 3 years and retesting the line was a high probability under that scenario. The stock ended up 11% higher than the previous week's close and in the process, generated a failure signal against the bears, having closed on Friday above the previous low daily close at 15.30 that thrust the stock down to 13.66 as well as closing above a minor but clearly defined daily close resistance at 15.96 (closed at 16.72). There is some intraweek resistance at 18.09 and then at 19.72 and pivotal at 20.98. Nonetheless and on the weekly chart, the only resistance there is the one at 20.98, suggesting that a rally up above $20 could be the objective for this week. It must be mentioned that having successfully retested the MA, the stock is now likely to be in a short to midterm uptrend and the recent weekly closing high at 21.47 is not likely to stop the rally, meaning that the objective of this trade is a rally up to the 27.71 level (based on a weekly close). Nonetheless, reaching that level might take a couple of months to achieve. Probabilities favor the bulls. NEM generated a negative reversal week, having made a new 2-week high but then closing red and near the low of the week, suggesting further downside below last week's low at 58.64 will be seen this week. The stock is showing a bullish pennant formation that has been built over the last 8 months that is clearly established. The bottom line of the pennant is at 58.20, meaning that is the likely objective of the downside this coming week. It is important to note (for future evaluation) that if the pennant is broken to the upside (a break above 65.78) the upside objective would be the $100 level to be reached within 8 weeks of the breakout. To the downside, a break below 57.53 would break up the pennant and give the bears some new ammunition, meaning that a stop loss could be placed at 57.43. Probabilities favor a 58.20 to 62.20 trading range this coming week with a green close next Friday. QQQ generated a negative reversal week, having made a new all-time high and then going below the previous week's low and closing red and near the low of the week, suggesting further downside below last week's low at 312.76 will be seen this week. There is some pivotal support at 305.18 that if broken would open the door for a drop down to the previous all-time weekly closing high at 292.33. Nonetheless, it does need to be mentioned that below 305.18, there is no intraweek support until 266.97 is reached. There is also an open gap at 276.82 that may become a magnet once the stock gets below $300. In addition, the 200-day MA is currently at 271.67, all of which could become magnets if the correction gains momentum. On a short-term basis, the next pivotal intraweek support on the daily chart is at 310.58. If that level gets broken early in the week, it could be a catalyst for all the rest to occur. Some resistance is now found at 319.38 and pivotal resistance is found at 326.42. Probabilities favor the bears. SRUTF had another very uneventful week, having closed $.00198 cents below last week's close. This area between $.033 and $.047 has been the total trading range for the past 10 weeks and there seems to be no interest at this time from either the bulls or the bears to trade out of it. Nonetheless and given that Cannabis stocks are likely to be "in vogue" this year, the .047 level is now pivotal resistance as it also includes the 200-day MA, which is a line that has not been broken to the upside for the past 19 months. If broken and confirmed on a daily closing basis, the stock is likely to generate a rally up to at least the .0659 level. W generated a negative reversal week, having gone above the previous week's high and then closing below the previous week's low and near the low of the week, suggesting further downside below last week's low at 263.57 will be seen this week. This coming week is important as the channel line that got broken to the upside (on an intraweek basis) and that caused the stock to rally to $369 is presently at 270.00. The stock closed above that line, meaning that it was not broken to the downside and giving a failure signal. By the same token and using the weekly closing chart for the channel line, the line is at 257.90, meaning that further downside and on a weekly closing basis can easily be seen. With the indexes looking to head lower and the stock having dropped over $100 (39%) from the high and having had a negative reversal week as well as a close near the low of the week, it is suggesting that the stock will likely head lower this week. It also needs to be mentioned that the stock generated a failure signal on the daily closing chart, having closed below the previous high daily close at 284.84 that generated the strong rally. That failure signal has now been confirmed with 4 daily closes in a row below that level and that is suggestive of the stock possibly heading down to test the 100-day MA, currently at 242.61. There is no intraweek support below until 241.60 is reached. This suggests that if the indexes do head lower this week that the stock could head down to the $242 level. There is a 95% probability that if that occurs, I will cover the short positions and take the loss. By the same token, any daily close below 225.81 would generate a strong sell signal that would likely carry the stock down to the previous all-time weekly closing high at 169.83. This week promises to be indicative. Probabilities favor the bears.
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1) FPRXM/b> - Purchased at an average price of $14.285. Stop loss at 13.65 on a stop close only basis. Stock closed on Friday at 14.79. 2) BTZI - Averaged long at .215 (2 mentions). No stop loss at present. Stock closed on Friday at .0441. 3) CRON - Averaged long at 10.4275 (4 mentions). No stop loss at present. Stock closed on Friday at 10.65. 4) SRUTF - Purchased at .36. No stop loss at moment. Stock closed on Friday at .0398. 5) W - Averaged short at 86.61 (2 mentions). No stop loss at present. Stock closed on Friday at 299.94. 6) CAT - Averaged short at 109.616 (3 mentions). No stop loss at present. Stock closed on Friday at 191.94. 7) QQQ - Averaged short at 192.995 (2 mentions). No stop loss at present. Stock closed on Friday at 325.42. 8) AXP - Averged short at 93.953 (3 mentions). No stop loss at present. Stock closed on Friday at 122.15. 9) AU - Averaged long at 26.106 (6 mentions). No stop loss at present. Stock closed on Friday at 23.21. 10) NEM - Averaged long at 61.08 (6 mentions). No stop loss at present. Stock closed on Friday at 61.75. 11) CNX - Averaged long at 9.10 (2 mentions). No stop loss at present. Stock closed on Friday at 12.69. 12) FNV - Purchased at 120.62. Averaged long at 123.725 (2 mentions). Stop loss now at 118.65. Stock closed on Friday at 123.29. 13) QQQ - Shorted 323.07. Covered shorts at 323.71. Loss on the trade of $64 (per 100 shares) minus commissionsl.
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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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