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If you're looking for a sector that has value, ferilizer has also gotten beat up REAL bad, with energies. Ticker POT is among them. This stock had a GREAT gap today on the daily chart. This looks like a double bottom of some kind on the weekly chart and the wave rotation looks VERY similar to how this stock moved ...
I don't have any positions on LLY, however, it did bounce NICELY off of the 200 SMA on weekly as we expected. For those who have at least 100 shares, one could consider a covered call up at this level, as we're hitting the 100 SMA.
A gap up on IBM would be odd in this area. I'm not really sure what would happen. It's gapping up into a big resistance, BUT it would also be above the 200 SMA on the weekly (which is a big deal). Most likely, I would expect a small sell off / retracement and then a bounce?
If IBM gaps down (which I think is most ...
I don't know when this 'wave' rotation / retest will occur, but JBLU had a massive accumulation phase, break out. It's going higher this year... with earnings coming up, the most fun flight would be a gap down into $20.58 ish and then a bounce. :-)
Gorgeous breakout of AXP. You'll notice the multi bottom pattern and break out.
Today in the afternoon room is Finance Friday.
We mentioned this article about bank stocks and since then, AXP is up above 20%.
From here, look to buy the dip.
You have 1 day of 'free theta' with this trade.
Nice gap today, trend is bullish. My thoughts on this dramatic run up in the markets is, stocks just hang out and trade bullish / neutral / sideways for another few weeks.