Update on LTCN  - up another 17% so far today with heavy volume.  Cleared resistance at $335.  Next areas are $395, $415 and ath at $508.  Trim & trail.....

That WBA "buy support" turned into a nice trade today.  Keeping it for now.   

For those with a greater risk appetite, LTCN has a nice pennant and breakout on the 15min.  C&H type formation on the daily.  I have a small position.

If it tags that lower blue trendline, I'll pick a little up.  Market feeling squishy overall, so keeping position sizes small and stops tight.

Related, Wallgreens formed a very nice looking cup, currently residing near a lot of support with MA ribbon and BB pinching, RSI oversold and pointing up.  Maybe a good low-risk entry here.

I feel bad for whomever sold yesterday....

CARA... -45% today, and the mother of all gaps.  And that's why I don't mess with individual biotech stocks.  Hope no one was still in it.  

I've used free and paid versions of stockcharts; I don't believe there's a way to save templates with the free version (except during a free trial period).  A better free site, imo, is TradingView.  I have the paid version which enables a larger number of indicators, but the free version is feature-rich and does save the chart layouts (and applies to new tickers as well).  

+12% today.  +30% since early April.  Back up to previous high and earnings tomorrow, so time to close it out.  Will look at re-entry after earnings.

GNW having a nice run since I posted a couple of weeks ago.  Earnings tomorrow.

Update from earlier post on GNW, continuing to coil and getting tight.  It can be a big mover so position sizing and stops are key.

Big volume today; looking like the capitulation phase.

Very interesting...I posted this TradingView chart of Gold yesterday AH when I saw the big red candle.  But that turned out to be erroneous data - didn't show up on other charting programs and Steve commented as well that it was bad data.  That said, today's low exactly matches that 'ghost' candle.  Maybe someone  yesterday was programming today's algo and accidentally let it loose momentarily.  Ha!  

Something could be up with that chart.  Noticed that it's not updating on TradingView.  Silver is updating AH, but Gold is stuck at 16:55 EDT.

Wow, gold just puked itself AH.  

Beginning to wonder if the much talked about 'melt up' into May is really going to be just a defensive rotation into big tech and large cap stocks on the premise that they'll better weather the anticipated downtrend later this summer/fall.  

Charting question for anyone to answer... if you draw the upper trendline from the Feb high instead of the March high, you get a bearish rising wedge (that also contains the shorter term coil).  Is one pattern more valid/likely than the other?  

One scenario is coil breaks to the upside for a short term pop, then the bearish wedge potentially comes into play.  (Though, these days, I see some rising wedge BO's go to the upside, so maybe this is the new bullish scenario.  Ha!)

Gold 1hr chart.  Someone hit the sell button yesterday evening.  Found support at the previous low which, on the daily chart, corresponds to the middle BB and the rising 9MA.  Not getting super aggressive yet, but did add to my existing position near the tag of that support line.  Added 5min chart - beautiful tag of support.  Let's see if it holds.

Today's pullback seems logical and orderly.  GDX, for example, has been up 4 days in a row and is finding some predictable resistance at the top of the daily Bollinger Band.  Below, it has a lot of converging support on the daily - the 9, the 20 and the 50 are all coming together as support.  A pullback to that level would be logical, even healthy for another move up.   I wouldn't say miners have been in an uptrend; they have been in a multi-month downtrend that maybe reversing.  If price clears the upper downtrend line from Aug, that would be very constructive for a bullish case (said in my best Steve voice....).

Something else for determining if the downtrend is indeed reversing... this recent up move came off of positive MACD divergence on the daily which also coincided with the 50% fib off the Aug highs and which constituted a backtest of the former resistance-turned-support dating back to May (orange horizontal line).  Then it put in a higher low which kicked off this 4-5 day rally.  No guarantees, but I see that as a good base from which to establish a trend reversal to the upside as opposed to a short bounce.  Gotta see that upper trendline taken out though for me to get bullish.  

I have some miners and am adding on pullbacks.

GNW coiling.  Somewhat of a high-risk/high-reward play.  I've made some good returns on this in the past, but it can have some heart-stopping moves (both ways). Position sizing is key.

RMO entered into long-term supply agreement with Peterbilt with battery systems for their EV trucks.

https://seekingalpha.com/news/3679393-paccar-selects-romeo-power-to-supply-peterbilt-579-and-520-battery-electric-vehicles