BobbySpa

BobbySpa

We are about ten points from the mid-line detailed in my idea earlier which has been resistance since last year's sell-off. MACD and RSI clearly showing a short term top is near or in place. All time closing highs today and the 25th of the year. SPX is up 25% as well YTD. It can't be much longer before this gives way to gravity. I think today was follow-thru...

BobbySpa

VXX is a very tough instrument to trade. Although it tracks volatility, it has many factors that contribute to its decay over time when compared to historical VIX levels. As such it is best to set s top loss on this and only trade what you are willing to lose. This has been trading lower now for 7 weeks or so and today's drop looks like it could be close to a...

BobbySpa

It's been since June that it crossed back over its midline, and except for the one dip below in May, it has been above its midline for 7 months which is the longest period represented on the chart. All good things must come to an end. 1.3T market cap and showing signs of exhaustion in MACD and RSI. When it does finally correct I like the 116-120 area.

BobbySpa

This mid-line marks the low from the 2016 sell off that digested the 2009-2015 run to todays highs. As you can see last year's meltdown did some real damage to the chart and SPX has struggled to break through and in fact has been rejected at this line three times. See my analysis of the gold/silver ratio as the same midline is present and appears to be behaving...

BobbySpa

It looks that way to me. RSI up trend just about exhausted and MACD has been indecisive for a while. 26 or so seems to be the line in the sand. I remember when it broke out this summer and took out 25.71 which was the prior peak that started the sideways action that lasted for 15 mos. Just seems like the selling is drying up but that may just be wishful...

BobbySpa

This chart depicts the GLD/SLV ratio since the start of the almost 11 year bull market. As you can see the ratio reached a high at about the time the market starting crashing back in 2008 of 8.8, and hit a low of 31 when gold topped out in 2011 (those boundaries defined by the FIB chart). It has steadily climbed within two very defined channels to new highs as...

BobbySpa

Stock needs to work off overbought condition but I don't expect a super deep retracement. Volume bars telling a good story. Fib levels should provide some idea of where to buy at the appropriate time. A better entry price awaits but this is probably one to watch.

BobbySpa

VSTO is one of those names that's been selling off since Trump was elected. I think 2020 could be a turnaround year. Stock has been in the bottom part of the downtrend channel for a year now and just decisively broke through the mid-channel resistance on volume which appears to be picking up on up days. It could come down and test that area but I doubt it. ...

BobbySpa

Like this stock chart. GE has held its recent breakout, is consolidating nicely and appears to be under accumulation. It is however short term overbought and MACD is turning over. Suspect that we will see the $10.60 area but this looks like it wants to get back to the breakdown area that defines the upper FIB levels. Another 2020 turnaround name for me. Like...

BobbySpa

RIG is still chugging along making a series of higher lows with bigger up volume days outnumbering lower down volume days. Change of character since mid August. Upper channel resistance and big volume breakout is coming I can feel it in my bones. Another 2020 turnaround name for me. I like this for a buy and hold. Deep water drilling tough space but this is...

BobbySpa

So TDOC had a beautiful breakout on huge volume out of the ascending channel as expected (followers had another chance in the low 60s). It has started to consolidate between $76-$82. It was up $4 yesterday on decent volume. I believe this breakout is for real. Looks a little overbought right now and I suspect it will come test the breakout area around $73-$74....

BobbySpa

Still looks overbought after the breakout of the ascending channel. Needs to do some work in the upper channel and I suspect that $7.50 or so should be a nice entry point. Again, another stock I like for a buy and hold. Boob jobs are the rage and this company has filled the size gaps where Mentor and Allergan have been deficient. Business was up big this year...

BobbySpa

Taking a broader perspective on this chart. I love the pattern that is developing as the stock appears to have started a new bull market. Need some more work in this $9 area. I expect good things out of this stock in 2020 and the upside targets of $16 and $26 appear very doable.

BobbySpa

I like this somewhere around $45-50 in the next 12-18 months.

BobbySpa

I continue to like this pattern more and more each time I review the chart. Everything tells me this wants to make it past 14 this time around and challenge the 16 break down area. 200 day and 50 day looking to set up for golden cross. On monthly chart RSI and MACD ready to run. Upside volume clearly picking up. This is a buy and hold 2020 stock for me. When...

BobbySpa

Truly truly interesting times. We know how this one ends. Everyday MSFT and AAPL tack on to their respective $1.14 trillion and $1.18 trillion market caps. MSFT adding over $150 billion in the last three weeks. Dow 28000 and record highs across the board for all indices. VIX traded in the 11s today. The last hurrah? Most frothy I've seen things in a while.

BobbySpa

10.5 years and 1000% increase. This is looking a lot like prior bubbles. Every high flyer looks like this. Can't be a good sign of what's to come.

BobbySpa

I'm not sure. What I can tell you is that this name is either going to 188 or 228 depending on the report and future guidance. Sitting right at a FIB retracement from the all time high to last year's low and those targets are the FIBs on either side. This was a $7 stock when the ten year bull market started, a 3000% gain. Chips have performed well and the SMH...