Thursday, January 19, 2017

1/19/ Preparing for a bear

Stopped REXX
This one should still be in play.  Wait for it to reset and slingshot.

EMES -- good move and moved stop up to ITM which was hit... this is not a strong market.
Weak after the move


This may require a shake in the broad market for this to work but I don't see the bullish theory working at this point.  The base is simply not long enough and a high volume reversal following a breakout should be seen as a warning flag.   This stock has a history of making severe pull backs once they start.

Short Feb 15. calls.
Stop 19.50 on stock

Lots of resistance at this point despite the high volume earnings move.  This is a pattern that will be hard to cut through so I'll use the resistance as a stop and look for a fade.

Short. 9.34  stop 9.70

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