Stock Symbol Salad
Let’s face it – you haven’t been watching your diet over the holidays and those jeans are starting to get a bit tight around the belt line. Don’t despair – Dr. Mole is here to help – we’re going to get that muffin top back into shape for spring in no time. In addition to a rigorous tea bag lifting routine I am also prescribing you a nutritious diet starting with today’s stock symbol salad. Go ahead – dig in!
Let’s start with the E-Mini which has been scaring the children a little in the past two days. However most notably it dropped all the way to its daily NLSL and then bounced back. Great first test and that means we should remain long until we see a breach of 1,491.25. Easy peasy lemon squeezy – but no sugar on top, alright?
CCJ – very interesting configuration. It’s been bumping into resistance near 22 in the past two weeks plus there was a quick visit of the 25-hour which snapped right back. I would love to be long on a breach of that diagonal.
CVX – Chevron near its daily NLSL plus there’s activity near its 100-hour SMA. Great inflection point.
DRYS – our long near that neckline got stopped out but now we have a bit more context. I am currently still in neutral but will shift into first gear if we get another breach of the neckline. And back into reverse if that 100-day SMA is being taken out.
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ICE – great inside day setup near daily resistance (i.e. the upper 100-hour BB line). I would take either breach.
Maco-donardo (that never gets old) – also inside day near possible upside resistance (less pronounced).
PFE – inside day breach in progress! Currently short with a stop above today’s highs.
Exxon Mobil – descending into possible support – two SMAs ought to present somewhat of a hurdle, right? I’m long with a stop below the white line. Short on a breach of the 25-day SMA.