Author Archives: pricentime

$XLE More Down Side

The energy stocks topped on the week of December 16, 2016.  It has not been participating the rally at all.  We recommend our readers to stay away from the sector.  When the economy turns around that will lead to more activities in materials and industrial sectors, in turn it will drive up the demand for energy.  The rise of energy demand

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$FCX Open the Remaining 2/3 Long Positions

Yesterday we recommended to open 1/3 long FCX positions because of the unconfirmed reversal.  Today we recommend to open the remaining 2/3 long positions.  We just had an intraday price structure bullish reversal.  Stoploss is 13.13.

Long $FCX Now

It’s time to open 1/3 FCX long position.  It’s not confirmed the bottom at 14.01 yet, but the intraday behavior indicates the likelihood of coming of the weekly cycle bottom from here.  The absolute stoploss is 13.13.

$CLF Weekly Cycle Location

CLF had a great earnings release and the market rewarded it handsomely.  It took out the previous weekly cycle at 10.90 without any hesitation.  It is currently only in the 2nd week of the weekly cycle.  Right now it is 14th day into the daily cycle.  It is in the correction phase to digest the overbought condition that was caused by the

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$BAC Recent Breakout Not Trustworthy

We are long term bullish on BAC.  We published a blog on BAC 2009-2016 multi-year breakout on January 6, 2017.  But the recent breakout at the 15th week in the weekly cycle is not trustworthy.  We believe this breakout pattern will fail due to the cycle position (too late in the game).  In a week or so it may fall back into the range again.

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