BobbySpa

BobbySpa

AAPL may yet ring the bell on a $2T market cap but this formation looks deadly to me. Stock has doubled market cap in a year and this ascent is steeper and more pronounced than the period leading up to Jan and Feb. Complacency is out there. Bullish sentiment is everywhere. When this cracks watch out below. It is literally off the charts crazy at this point!

BobbySpa

It looks like it to me. There is nothing that I see in this chart that tells me the market should continue higher. Clear double top formation separated by proper time. RSI divergence. Bullish sentiment off the charts. Robin Hood valuation of $11B. TSLA up 500 points in a week. AAPL with a $2T market cap. All in the face of small businesses failing at an...

BobbySpa Updated 

DUST is filling a gap from last Monday's pop on the news that Buffet purchased GOLD. This is roughly the .50 FIB retracement level. I think this is a head fake and that this weakness should be bought. GDX is not oversold yet and in my opinion still has a little more correcting to do.

BobbySpa

DUST ran from 16 to 20.66. Has retested the .50 Fib retracement level which was the gap up opening level from Monday. Still rip for a trade.

BobbySpa

Looking for a break of 39.72 that should bring prices to the low 38's. If that area doesn't hold then $36.50 or so.

BobbySpa Updated 

DUST held Fib support from yesterday's swing high and low. Made a higher low from yesterday and just made a higher high as I edit my idea live. Miners looks super extended and failed to make new highs despite the strong moves in gold and silver. Not sure how long it lasts but the time may be write for a miners counter trade. As you know I am a precious metals...

BobbySpa

DXY was rejected twice at golden pocket resistance. Looking at the chart, there may be a significant bounce that would temporarily stop gold's unabated push higher. If the dollar can continue to trend higher, then I would look to here gold positions.

BobbySpa

Last I wrote a note on SPY was March 21/22 when things were really really ugly and I said that this might be the place to buy and things were not that bad. Today I write a note to say the rally has carried about as far as it should go and that things are not great. Starting to see a legit divergence. I believe a new stimulus bill is already priced in, and the...

BobbySpa

Looks like it! RIG is bumping up against key resistance and a break should bring some higher prices and possibly an attack of the $3.82 high from three months ago. Watching closely!

BobbySpa

SLV is now trading in the gap breakdown area from April 11/12 of 2013. I have $25.13 as a target from which a long needed break should occur. SLV, GLD and miners having a monster day.

BobbySpa Updated 

This ratio has dropped from 12.5 to 8.02. I still some potential for this to fall to the 7.56 level or so which would have SLV still outperforming GLD in the near term. Indicators looking like they are ready to turn. Watching this closely.

BobbySpa Updated 

SLV cleared my 22.23 target on a gap up open, the third in a week or so. I have set two additional targets that may be achieved if the metals trade can continue higher before a much needed consolidation phase. Next two targets are $23.62 and $25.17, the latter marking what I would call the control line for the stock. Watching closely and have reduced most...

BobbySpa Updated 

Perhaps but I have added a another potential target at 22.20 if things get real crazy!

BobbySpa Updated 

SLV hit and closed at first resistance today. In the after hours it has hit my second resistance target. Starting to get a little parabolic here.

BobbySpa Updated 

This ratio is starting to normalize as I have suggested here with several ideas. SLV is finally outperforming GLD and it probably still has a bit more to go before they both need a breather. Watching this closely but we've dropped 4 full points already.

BobbySpa

If this holds watching 19.70 next and then $20.64!

BobbySpa

SPCE looks like it is starting to get a bid again and has held one Fib level and broken thru another. Volume picking up nicely. Watching to see if this can stick.

BobbySpa

NFLX stunk up the quarter missing earnings by 11% or so on better than expected revenues and traded down to $450 initially after hours and has settled around $482 (the golden pocket) as of this idea down $45 from its close of $527. Everyone new the setup was bad going into the number with the run the stock has had since the last quarter of 60%. GS set a target...