Oct
17
We urge you to be quite cautious going forward. The market is nearing a decision point.
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The overhead resistance line starts at the all-time high and the uptrend line starts at the March lows. We are approaching the apex of the triangle so the market will soon make a decision on which way it will break. It shall be an interesting fall, err, autumn this year.
While we are very cautious about the overall market that does not mean we can’t speculate.
We have a couple interesting stocks to watch.
AGEN is a great speculation as we can place a tight stop, which the stock has respected for quite some time. AGEN has a history of big spikes and we are sitting right above the 5-day and 8-day SMA. Good potential.
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OPXA is another good speculation for much the same reason.
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OPXA has made two explosive moves and is setting up to repeat the pattern. However there is absolutely no guarantee it will spike up again, if it does we want to try and catch it. The red line shows where the stop will be placed if the trade fills and is what gives this trade so much potential.
The market has exhibited extraordinary strength over the past six months and is reaching the point of potential exhaustion. We will continue to take trades as things play out with the full intent of moving to the sidelines if things start to get ugly.
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