With nearly four weeks of sideways to downside action the pundits would have you think that the market is on the verge of falling apart. The talking heads (for the most part) have you convinced that the sky is falling and that the world economy is abysmal. Hypothetically speaking, even if we are in an outright terrible place in the economy the market doesn't care. Markets unintentionally forecast several months in advance. So with that said, price is truth. Know what you're trading off of and you will be okay. Either direction. I want to be clear and advocate that I am not saying everything is rosey or that they are wrong. I'm simply saying; "Who gives a shit?"
We're not in the business of being "right" we're in the business of making money. Leave the
"being right" to the morons on television who need to fill their ego since they can't fill their bank accounts with their "trading"
After a rest, this name is nearing a breakout and is almost set to resume its trend higher.
Renewed strength with a well defined post-ER range. Keep this one on your list for a potential breakout.
This name has founded a rejuvenation. Currently flagging and poised for higher on a breakout.
Aggressive call buying and at the lower end of is two year range. Strip out the competition bullshit and just look at the price action. A break of 94 sets this for round two.
Here are the levels. Nothing more needs to be said.
XBI LABU IBB
XBI (and in some respect the IBB) has been building a weekly base and is poised for higher highs. The next several weeks will be key in the space as many of these names report vital data that will surely serve as a catalyst.
Buffet bottom seems to be the theme here. Look for it to press up to the edge of the gap. Look for the part makers to catch a bid as well.
The retail killer and giant has been basing for round two.
The giant put seller has seemingly put a bottom in this stock. With volume pops in the name, this stock seems poised to break out. Using 14 as a stop this is worth a long. Look for 14.6 as the breakout level.
Multi-month breakout. Look for follow through.