goodguy

PRO
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Joined USA
Markets Allocation
51 % stocks 18 % indices 4 % commodities 27 % other
Top Mentioned Symbols
USOIL 22% | 48 IWM 13% | 30 DXY 11% | 26 SLV 5% | 13
goodguy goodguy PRO IWM, D,
IWM: IWM: IF at first you don't succeed
74 2 6
IWM, D
IWM: IF at first you don't succeed

Although I was stopped out on my last post on IWM (see link) I have not given up on my original idea. It still looks like a great place for a reversal. May still get a little more advance to 144-145. (where D=2x B ) Process your own way. Watching for a reversal pattern.

goodguy goodguy PRO DXY, D,
DXY: DXY: US Dollar Index drops below up trend line.
23 0 7
DXY, D
DXY: US Dollar Index drops below up trend line.

Starting down again today. Eventually may help support price of metals and oil.

goodguy goodguy PRO GDX, 120,
GDX: Planning ahead. current ideas about GDX
101 0 6
GDX, 120
Planning ahead. current ideas about GDX

My previous post on GDX (see link below) worked out well. The big question to me is whether we are making a sideways consolidation now such as a triangle or will there be a "c" wave down to close gaps around the 19.40 level. If a triangle is forming it could turn up at in drawn target box. Personally I will wait for a bullish candle formation on the daily and ...

goodguy goodguy PRO NE, D, Long ,
NE: NE:  Looks good on paper.
68 2 6
NE, D Long
NE: Looks good on paper.

NE is in the oil and gas service sector which has suffered of late. Still in a downtrend but I think the move up at the end of 2016 (labeled 1 or A) may well be followed by at least one more up move to 3 or C. May get a drop tomorrow to c=a on the dialy chart. Watch closely for a bullish candle formation then could use the low of the formation as a stop. . ...

goodguy goodguy PRO IWM, D, Short ,
IWM: IWM: are we in an expanding triangle?
81 2 11
IWM, D Short
IWM: are we in an expanding triangle?

One of the hardest formations for me is an expanding triangle. You keep getting new highs, then new lows, then new highs, and so on. But if you look at the daily chart we have had a lot of sideways action since the start of 2014 with just that kind of pattern. Also volume tends to contract toward the end of the triangle likely because folks are "confused" as to ...

goodguy goodguy PRO GDX, 120, Long ,
GDX: Short term play in gold miners: GDX
151 4 12
GDX, 120 Long
Short term play in gold miners: GDX

Could be one more drop but should stay above 22.57. Then likely rise to target box.

goodguy goodguy PRO ETP, D, Long ,
ETP: Crude Oil: Still feel quite positive.
33 0 5
ETP, D Long
Crude Oil: Still feel quite positive.

We had a great run up in oil at the first part of 2016. Now we are in sideways-ville. If you looked at my long term posts from last year you know I think we are likely in a long term consolidation phase. To me the charts above look developing or possible completed triangles. In a a-b-c up correction it is not unusual for the "b' wave to be a sideways triangle ...

goodguy goodguy PRO KBH, W,
KBH: Another one I'm watching: KBH
18 0 4
KBH, W
Another one I'm watching: KBH

This company is making a bounce back. The "Street" Rates it a buy with at target of 25.36. This is the same area I get from the daily chart. But I notice the daily RSI is in the overbought area with a small bearish divergence. Price is also at the mid line of the larger up channel. So I am looking for some pull back before I personally commit. For myself I would ...

goodguy goodguy PRO IVZ, D,
IVZ: One to keep an eye on: IVZ
15 0 5
IVZ, D
One to keep an eye on: IVZ

When a long term down trend line (weekly chart) is broken and returned to and provides support (weekly chart at "2" it can be a sign of positive things to come. Point 2 is near the start of the daily chart. Just looking at the chart pattern on the daily chart I favor there may be one more down move before the correction ".2" is over. Maybe not. Personally I am ...

goodguy goodguy PRO AMP, D,
AMP: AMP: Another one to consider.
55 4 11
AMP, D
AMP: Another one to consider.

Chart looks promising. If went long personally I will use a close < recent high of 118.58 (not bats) as my stop. Review services such as Credit Suisse, Ford Equity Research, and Market Edge give it a "buy". Would consider target of 160-170. Feedback appreciated.

goodguy goodguy PRO TD, D, Long ,
TD: Stock to consider: TD
36 0 6
TD, D Long
Stock to consider: TD

fundamentals: https://seekingalpha.com/article/4059202-td-bank-opportunity-consistent-growth If tomorrow's close is >49.50 then we have a bullish engulfing weekly candle. Could use recent low of 47.95 as a stop.

goodguy goodguy PRO RIG, D,
RIG: RIG daily log: One to keep an eye on.
52 0 5
RIG, D
RIG daily log: One to keep an eye on.

Also see weekly chart. Could start up from here but I suspect there may be one more drop to a .62 to .78 correction before we hit "b" and the next up swing begins. When it does I would put the up target at about 20-25 where there is a lot of overhead resistance. Note positive reversal in the daily RSI. May be forming a bullish divergence to follow.

goodguy goodguy PRO RIG, W,
RIG: RIG Weekly: taking a look. Turning around.
32 0 6
RIG, W
RIG Weekly: taking a look. Turning around.

Also see Daily chart to follow. RIG is a offshore drilling company which as you see above has been in a long term downtrend esp with adequate oil supplies available already and oil prices down. It has made a recent bounce right up to the center line of the down channel. I favor there is more up correction to come soon perhaps up to the top of the channel. Some ...

goodguy goodguy PRO CL1!, 120,
CL1!: OIL: Watching for a turn up soon.
107 3 7
CL1!, 120
OIL: Watching for a turn up soon.

Just how it looks to me.

goodguy goodguy PRO IWM, 120, Short ,
IWM: I'm going short on IWM
76 5 10
IWM, 120 Short
I'm going short on IWM

With drop today I took short position. The action from Feb. looks like a form of H&S with the H a M shape to me. Using that idea I have a short term target that wold take out the nearest gap. I personally am using a 2 hour close above 134.56 as my stop (the low of .1 on a non-bat realtime chart). There is always more risk to take the bear side in a long term ...

goodguy goodguy PRO IWM, 120,
IWM: Short term update on IWM: short term top in?
23 0 7
IWM, 120
Short term update on IWM: short term top in?

Previously I thought there would be one more pop up to new high. Didn't happen. I favor now will see more down action ahead. I think there could well be another pop up to the very short term down trend line on the 2 hour chart or even above the .2 level. But will likely be taking a short position soon with the stop at the .5=5 level. Enjoy your weekend. Peace.

goodguy goodguy PRO GDX, 120,
GDX: GDX: still bullish but may get a short term pullback
149 4 9
GDX, 120
GDX: still bullish but may get a short term pullback

We did get a rally in the minors after the at the .62 pullback level (labeled (2)or (B)). I took some profits yesterday as I think there may be a short term pullback before the next advance. I am still longer term bullish. We'll see.

goodguy goodguy PRO AAPL, D,
AAPL:  AAPL: Some correction ahead?
84 0 8
AAPL, D
AAPL: Some correction ahead?

I closed my long position on AAPL near the close on Friday. I didn't like the bearish engulfment candle formation and the bearish divergence in the daily RSI. Increases the risk of a short term retraction. Longer term still likely positive but personally stepping aside for now. Take care.

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