I will have video out tomorrow. In the meantime I wanted to go over some new setups. While stocks are getting stretched and volume has declined four of that last five trading days, there are some things to look at.
First off, I thought the initial move in Europe (down) after Draghi was the right move. After processing the news though, they took it up hard on Friday and our market followed. This will be a good week to see if the gains hold, both in Europe and here.
Here are a few names that I am adding to the P&L. Wait for the appropriate trigger prices before entry.
XON- buy the 40.25 level
I like the way silver (SLV) is setting up. I want to play it with AGQ. Buy the 34.70 spot.
YRD- Buy the 8.50 spot.
EW– Buy the 90 spot.
See you in the morning.