BobbySpa

BobbySpa

It did what we expected it to do. Looks like a good move to 16 after a pause right here. This is what people should be buying. Not AAPL!

BobbySpa

We know it when we see it and we know how this story ends. I can post the MSFT chart from 2000 or any other highflier for 2008 and others here in 2019. When everyone on Wall Street is buying one stock (or a handful for that matter) to "put away" because "it's safe" then even the puppet masters have forgotten the rules. Trading at a historic multiple and chart...

BobbySpa

Tested smaller FIBs yesterday morning and today. Larger FIB holding. MACD and RSI looking promising. I think gold and miners ready for a little rally. Fed decision and probable future language regarding wait and see on further cuts already baked in. There will be some volatility but my bias is up for now.

BobbySpa

I think so. This pushed past the old highs and is down about $6 as of this post on increasing volume. I expect a significant correction over the next two months. Let's see how this plays out.

BobbySpa

This is a tough read. Hasn't made it back into the channel but good earnings may help it to get there. My thinking is that GOOG like AMZN will miss earnings and fail at channel resistance and turn back down.

BobbySpa

Chips making all time highs on INTC news. Looks like irrational exuberance to me. Two pieces fell out of the channel and managed to right themselves eventually but the overall trend up 1000% during this bull run is remarkable. RSI divergence. Market trying to make new highs today. Fed out next week. GLD and SLV hard reversal today. Where are we? Nothing has...

BobbySpa

AMZN getting hit hard after hours. Not sure where this ends up tomorrow or how it impacts the market but we will see. INTC had a nice quarter. Offsetting tech heavyweights after the bell not moving futures much.

BobbySpa

Precious metals perking up. GLD still has a little work to do but in the context of the big picture this looks like it is ready to test resistance. Technology holding up market today with AMZN earnings on tap after the bell. Like MSFT, AMZN shouldn't do anything surprising. One day delivery costs are real and an impact on profits. GLD RSI and MACD looking...

BobbySpa

Looks like it to me. It's been bouncing around in the 13-14 range for a week now. Fed on deck next week and may be a little more hawkish than mr. market likes. Play VXX here if you think volatility will spike!

BobbySpa

Doing nothing after hours on earnings but conference call not for another hour. How rosy a picture could management paint? This looks really really tired to me. Up almost 10x since 2009. Last correction was 60 down to 15. Expecting this to do something on the downside soon. Not a great chart pattern. Not sure when but RSi divergence and MACD rolling over. ...

BobbySpa

Market struggling here as it should. MACD turning over and clear RSI divergence while market making new highs. A sustained breakout above the FIB 2.612 would truly be irrational exuberance at its finest! No good reason to go any higher but who knows with this market. This looks like a look out below scenario to me.

BobbySpa

Sitting at its 200 day line and an important breakout area. I see this going higher. AAPL analysts raising targets to $280, market at all time highs, and a belief that the Fed may stop easing because all is well, just seems too good to be true in light of all the issues cropping up in other areas. Brexit and China "deals'" saved the market once again. Both...

BobbySpa

SLV looks to be poised for a move to the upside. Good fundamental demand and good technicals should drive this higher. MACD and RSI looking good. Hang on or add to right here. Not giving up much lately. Trading above its 20 and 50 day averages.

BobbySpa

GLD looks to be coiling and ready for its next move which I believe is a continuation of the uptrend. GLD has been waffling above and below its 50 day line for some time now in a tight trading range just below $1,500. A decisive break above this level with volume and some follow through is what we are looking for. Miners chart also looks ready to break out. We...

BobbySpa

Pot stocks have gotten really really ugly over the last few months. APHA reported another strong quarter and it gave a lift to the sector. This name focuses solely on CBD and no THC products. They have real distribution of their products. Technicals starting to look good as well. This and CRON are my favorite two names.

BobbySpa

Still like this name. Since last post we have made a lower low and a lower high. Notwithstanding this, I still think the price action here is constructive and the indicators are telling me we have a chance at a pop above that downtrend line. Not sure whether we will test the recent lows.

BobbySpa

Still looking good. Was on sale for a little while since my last post but we knew it would want to test the $60 level one more time. I think this is really close to a break out. Indicators solid and price action encouraging.

BobbySpa

Liking this chart more and more. Seems to be a genuine interest in buying and other indicators confirming this. Nice chart pattern. Black gold, Texas tea....ready to rise??