Monthly Archives: January 2017

Short $BAC Right NOW-Weekly Cycle Top Is In

Sell market order short $BAC NOW, stop loss 23.41. Market order filled @ 23.22 at 10:20am. The weekly cycle top is in @23.41.  Downside target is 19.82-20.00.  We are long term bullish with BAC, but a correction is healthy for it to resume the move.  The anticipations of good earnings have baked in the price.  Today it ran up to 23.41 in a hurry and was promptly sold off from there. 

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$DRG Drug Sector Under Assault

On January 1, 2017, we at PricenTime.com advised that the six-year old drug sector has been in correction since August 2015.  The bounces were temporary reaction from the election.  This sector will be under renewed pressure due to the open attack from President Elect Trump.  The underlining causes of the decline have been revealed and that will further propel

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$CLF Partial Profit Taking

We recommend take partial profit for 1/3 of the position today. This partial profit taking generated more than 7% overnight.  This is a member blog.  Please join us to see the detailed information.

Due to the weakness in the general markets and the fact that CLF is in the late stage of the weekly cycle, we recommend caution and take some profits.

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Most Likely SP 500 Weekly Top is In

Today’s intraday weakness that let the index to take out a prior low @ 2264.06.  This action made the prior high @2282.10 a swing high.  Most likely this swing high is also a bear top for the 3rd daily cycle, which is also the weekly beta cycle high if this high @ 2282.10 is not violated by Jan 19, 2017.  This swing high occurred in the daily bear top timing band. 

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$CLF Swing Trade Update

We issued buy recommendation at 9:56am today.  The long entry order was filled at 10:39am at 9.08.  It went really well after the entry.  During the intraday correction period 12:15-14:10, it didn’t violated any critical technical levels.  It never even came close to the open range high.  Despite weaknesses in the general indices, it was a solid bullish day. 

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