Fashion Victims

Although more upside is probably pending, it’s time to start hunting for some overbought short skirt fashion victims:

Sure, I’d take them all out on a date – on a leash! Arf arf!!!
[amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. The rest of you guys will have to wait until tomorrow – sorry. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
[/amprotect] [amprotect=1,9,5,2]

First victim BTU – it’s not impossible that it’ll ride the tide higher as everything is so damn high beta these days (i.e. 80% of the NYSE is moving pretty much in tandem) but this thing has had its run and this is one line of defense to get positioned at. Stop one average true range (ATR) away – preferably not right at 50.0 as round numbers are easily swept.

COP has had a nice run and will probably push a bit higher before it’s ready to turn. I’d probably grab a helping of that at 58/58.5. Stop above 60 – if it busts through that it’ll probably make a run for 66 – just so you know.

I think DBC is asking to be manhandled – but not just yet. You got to take it out on a date and tell it a few lies about yourself first. So wait until 24, at which I see two reasons for a reversal.

FISV is probably going to run up a bit higher as it’s in short squeeze mode. So wait until 52 before you dare to step in there – preferably you want to see some consolidation – but base don prior precedence this thing turns sharply when it decides to.

HDB – which has dropped since I parsed it yesterday. Don’t let it fool you – not worth the risk until it pushes into 170 – preferably to 172.

Alright, that’s all for today – I’ll post more in the next few days.

Cheers,

Mole