Strategy Session Notes (February 27, 2018)

by Gary
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SS 022718

COTD:  TSLA – Alert $360.50

TNX – making another run at 3.0.  Powell was hawkish…stocks went dovish.

SPX – reversal of yesterday’s rally.  This is a lower high and likely to pull back more.  Careful about any new buys.  If you’re buying, focus on non-correlated stocks.

DJI – remember red box, green box.  Red boxes all over the place.

DJT – another BEG pattern.

NDX – within 22 points of ATH.  Likely at the end of the line here.

Alerts

  1. CASA – breakout. This time, it held.  Likely to see more upside from here.  Look at volume.  3rd highest volume since the stock opened.  Alert $23.00
  2. TRHC – still holding at support…but still a lot of supply overhead.
  3. HQY – Lazarus pattern.
  4. BLUE – still tightening.
  5. WING – recovered from earnings selloff. Now higher.  Weak hands gone?

Market Rollover stocks:

Social Media:

  1. SOCL – end of the rally.
  2. GOOGL – Shortable at 1,117. Buy to cover at $1,150.  ALERT 1150 AND 1117
  3. FB – Alert $181.30 AND $185.80. Shortable here, and buy to cover $185.80.  Your target would be modest.
  4. WB – Next buying opportunity is around $120. Alert $121. Remember – red/green box.
  5. TWTR – cover above $34. Alert $31.25 AND $34

Cybersecurity:

  1. HACK – cyber stocks stalling.
  2. PANW – gap and reverse.
  3. CYBR – Big Phase 2 move. Stay away from this sector.

Homebuilders:

  1. XHB – stay away. Too steep in rally and selloff.
  2. TOL – disappointing earnings. This flows through the sector.
  3. LEN – weekly…sure looks like more of a blowoff than we’ve seen in a while.
  4. DHI – still diving.

 

Strategy Session

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