Evidently, there was a problem last night as the video from the week prior printed here instead of the actual video that I did yesterday. I don’t know what happened but apologies nonetheless.
The names that I mentioned last night were: ADME, SM, CPE, LGCY, CRZO and one short SIG. I also talk about resistance at that stubborn 50 day moving average again. They all look attractive to me and I may add some of these this week. Anyway, watch the video if you would like, and here is tonight’s post………………..
Dow: +2.89…
Nasdaq: +1.69… S&P: -0.71…
As you can see we were as flat as a pancake today and everything centered around oil. Trump was ready to speak at 2 PM, and in front of that, there was weakness in crude oil and energy stocks. Not by a lot, but flat to down was the best way to describe the action.
Trump finished his Iran speech, oil popped, then went lower, but then after they processed the news, oil rallied and XLE closed right at the highs of the day.
XLE looks like it wants to make a move to the 78-79 area.
Some think the move in energy may be baked in a bit, and to a degree it probably is, but I like the charts of XLE, OIH, XES, and XOP (energy etf’s), and that makes me think there is more room to the upside.
Here some names in the energy patch that I like and may add over the very short term.
SM– Granted, a good move off 17, but it’s been consolidating for a week and could tag 28-29.
CPE– broke out of a flag yesterday then gave it back, today it moved higher again which tells me the buyers are hanging around. Could tag the 16-17 level.
LGCY– starting to come out of a beautiful coil, can tag the 8.00-8.50 level.
HLX – broke out of a deep base a couple of weeks ago now consolidating in a bull flag. Targets of 8.75-9.50
EGN reported a good # today and broke out that flaggy, falling wedge pattern today. Looking for 69-70.
Housekeeping…………
Some members told me they didn’t receive yesterday’s email alerts on APA and RRC. After checking, things were In good order from my end. Please check your spam and junk folder when this happens. For some odd reason, on occasion, these alerts will for some reason find themselves in your junk/spam bin.
If you still have a problem please email me.