Don’t forget Wednesday at 8pm Alex and I will be hosting a FREE webinar for all…and make sure you SIGN UP HERE, because we’re going to be changing things up and we’ll be giving away some free IU subscriptions, but you’re only eligible to win if you sign up for the webinar directly through that link I just gave you above. So please sign up, tune in Wednesday, and we’ll be going over all the details of how everything is going to work during the webinar.
Alright. This week has the potential to get WILD with who knows what kind of developments unfolding re: North Korea and Trump. You have to be on high alert all week there could be bombs dropped at any moment…..pun intended.
SNAP: This chart looked pretty weak most of last week. I want to say “it’s time” here..but I’ve said that about 10 times already, so not going to underestimate this. It continues to be a day-to-day trade and morning scalps for me for the most part…however I did start a swing trade on it in a back account from high 14s. Size-wise staying small for now, will likely double or triple down in the mid 13s once it’s confirmed a little more to me that it’s ready to die. Just sitting tight with the starter swing on for now. If taking any day trades on it short, I’d be eyeing an open push 14.50s ish and like to see a fail there.
HTGM: Showed some signs of life on Friday with some decent volume almost 4M shares traded. We know the game here, these guys are money raising pros. You don’t want to underestimate any short term pushes, but the end game on this one is always the same….tomorrow I’ll have eyes on it for an open push up to test Fridays HODs 2.25s area, that’ll get my attention. Ideally we squeeze through that a little higher, then there’s resistance 2.40s 2.50s 2.70s, so will be monitoring the volume and expecting it to fail somewhere in the middle of that “resistance area” around ~2.55 we’ll call it.
LOW: I’ll have eyes on this one as a secondary watch, it’s a hurricane play. HD and LOW both of them really, I’m sure there are others as well, these will just be the two I’m watching. There’s supposedly another hurricane coming that may hit the coast of Florida later this week, Hurricane Irma, potential Category 4-5 if it doesn’t change course. So if that looks like it’s going to turn into a legitimate threat at some point this week, that should be good news for HD and LOW and we should see a little “hurricane rally” we’ll call it. Will be eyeing dips to get long assuming Irma is still slated to hit Florida.
That’s really all I have for now…I was out two days this past week and missed most of Friday afternoon, that’s why I didn’t post many scans last week, I wasn’t in tune with the charts & action. This week however, I’m fully back in the normal swing of things so everything will resume as usual. Will definitely have eyes on the S&P ETF’s and Gold this week as well….again there are potential fireworks re: North Korea news & updates this week so be prepared for increased volatility in those names – UVXY VXX TVIX NUGT JNUG JDST DUST all of em…we’ll definitely have some trades there this week.
If you’re not an IU member and would like to become one, there’s still a sale going on here. Or if you’d prefer a shorter time commitment to see if you like it, you can go monthly as well here. Shoot me a PM anytime in chat (DGTrading101 is my IU handle) and I’m happy to discuss trade ideas with you.
See you out there!
– D
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