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I am long DGL, but I might get some NG calls...
Excellent call Lang! I think that this move will continue tomorrow. Looking for stocks which did not move up yet...
Yes, it is too late now for BA puts...Don't know anything about TIVO...
Hey 3x! Here is something very different: If the demand for copper (JJC) predicts general markets (even short-term), then this chart might have some fundamental backup and some practical value. In it: convergence = later SPX down; divergence = later SPX up. Entry points, on second vertical line. The timing of entries is not a “must” primary signal, but rather a validation of some other directional unambiguous signals. Obviously, it is to be followed only when SPX is reversing and JJC is still engaged in the previously established trend. What it says now is probably against charts and common wisdom. But one could wait and see whether it will validate some surprising UP MOVE.
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Short term trends on chart are software-established regression channels. No wishful “painting” involved …
The Rule of 4 applied to RUT, in its Dynamic Form. Here, the 4 contact points are on a curved line. The problem is that the 4th kiss can be often a “fake overshooting” and it’s hard to interpret it correctly. At a first glance, it seems that since the index closed at 649.52, above the EMA value used as reference (646. 65), the long term uptrend was saved…at least for a while. But is this true? Some additional observations, on intraday charts, might be helpful. They will be further presented.
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RUT1 min chart: Only the RAMPO of the last 6 minutes “saved” RUT. In the 655 area there is a recent double top. This level should become the site of a triple top or of a “rule of 4 “in action. However a brutal gap up above it on Monday could negate the meaning of this level. LOL! Such a gap is actually quite probable since on Monday the market will be closed in several European Countries, the “chancellorette” will not miss the opportunity to shut up today and the HSI, which was closed on Friday, might want to catch up with the Yankees. What a chance for DA BOYZ! They can push it up another notch!
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RUT 5 min suggests a zone of resistance (656.25 - 656.41)…unless an overnight gap above it takes care of that confluence. As a simple curiosity, one might also notice how the amplitude of the Opening Range (30 min) progressively increased during the latest 4 days.
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RUT 15 min: The gyration, recently engineered, generated a zone of congestion , which, in turn, brought the EMD to a “cycle mode”. Again, but this time for different reasons, an escape North of 656.25 should be meaningful.
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RUT 130 min: The LRC (green) has been adjusted to predict a “swinging breakout” inside the +/- 1 SD Regression Channel. Not yet…but very close….
Nice charts LANG!
3X: I agree with your next target at 1065. Maybe even 1062.5..but it has to drop through 1071, as discussed in the morning. It closed at 1071.59 and in the AH market SPY was at an SPX equivalent of 1062 -1065. It started to go up after the vote in the senate. Right now, HSI is stuck at a mild -33 points while the Boys are having lunch and more important discussions at Lucky Luke about the horse races on Saturday….
A bounce in the morning is not impossible.
What do you guys know about the Canadian $ that I don’t? I only look at charts when it comes to currencies…
Yes, JUN 7.5 calls were very popular on Wed. I was surprised of the huge C/P vol. ratio on that day...
"CHICAGO, May 20 (Reuters) - An experimental colorectal cancer drug being developed by Keryx Biopharmaceuticals (KERX) showed it improved overall survival and slowed cancer progression in patients with advanced colorectal cancer, according to a summary of final data from a mid-stage study.
Researchers said the drug KRX-0401, also known as perifosine, was well tolerated and showed "promising activity" over chemotherapy as a second or third-choice drug for patients with colorectal cancer that has spread.
The drug, being developed jointly with Canadian drugmaker Aeterna Zentaris (AEZS), blocks the activation of Akt, a new pathway thought to be linked with cell death and survival.
High levels of activated Akt are seen frequently in many types of cancer, and are often a sign of poor prognosis.
Last month, U.S. regulators granted the drug fast-track approval, a designation that speeds the regulatory approval process."
I looked at the data: they are GOOD. This is big stuff. Both stocks lost some value recently.
SPY target at the upper limit of the wedge = 113.40.
AKAM: rumors of acquisition
No...I am not that brave...Jun 65 puts