Friday, 13 March 2015

And just like that some buyers turned up, we were short overnight but covered on the open allowed the market to digest and then switched long for the continuation. We have rallied into the top of the short-term down channel, if the bears want to remain in control then we shouldn’t go too much higher. The futures are slightly red this morning following Oil down, although in the LT there is very little correlation between the 2 on an intraday basis it does impact the trade. The dollar should have far more impact but having had an incredible move over the past few months it is only now getting on to CNBC (I am using them as a proxy for the man on the street), in the ST it is extended but in the LT it could go a lot further.

$TRIB held up all day and then was taken down into the close on 4k shares it is holding in reasonably well would like to see it through 20.00 soon.

$SPY trying to break the ST downtrend, 208 is going to be an important level. Initially watching 207.10 resistance and 206.40 support

$IWM leading, can buy intraday dips. It is less impacted by USD strength.

$CL_F 54.24 - 46.67 is the range to watch. Has broken the low pivot of the range. Heading to test 43.58 IMO

$AAPL reversal candle yesterday. 121.63 is the new low to swing against, 129.57 is the high to retake for continuation, still in a ST DT

$AMBA failed at highs, is extended. Wait for some weakness before revisiting.

$CYBR didn’t love the secondary news, will need time for the extra supply to be absorbed. I am dropping from this list but will be watching for a new base.

$EBAY a bit more sideways chopping would be ideal, 58.00 a good level to buy or a strong trend day. Something is cooking here IMO.

$FB held its 50sma and had a nice base, still in its range but we are long a starter here. 80.00 has been key for a while but ultimately 82 is the level. Would like it to hold 78.80 and then look for weakness to add.

$FEYE has consolidated the break out well, think dips can be bought vs 42.

$GILD until it clears 105 I am sceptical, watching 95.81 – 107.31. Is over-owned IMO but it is in a red hot sector so take care.

$JAZZ choppy and thin. I am waiting for a break above 180 with volume to be involved, or a heavy volume move to 180 to start a position.

$JUNO a new issue I am watching on the long side.

$KRE lovely day yesterday, dips to 41 are buyable vs 40.69

$MYL wow. Missed this one, too extended to initiate here.

$NFLX I wouldn’t be long.

$SHAK confirming its momo credentials after that move yesterday! Wait for it to tighten up before initiating. Has $GPRO/$BABA etc. written all over it (ie hard rally then spectacular fail!)

$TSLA is very weak IMO, I think a trip to 120 is v possible. 180-185.00 is HUGE. Unless it retakes 225ish don’t trust rallies

$TWTR at a LT DTL. Is looking better and better. Buy 46s vs 45.00. Be patient potentially huge move brewing.

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