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  1. #111
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    Hereís one Iím watching. Itís not a bullish momentum play, but it is a basing play. Thereís not a whole lot of overhead resistance, so if it hits and closes weíll, I might swing it instead of just daytrading it.

    https://www.dropbox.com/s/mffkfqet5n...%20AM.jpg?dl=0

  2. #112
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    Kind of a nasty day for the market. Not much worked for me today and the nice long setups for tomorrow are scarce. Will we see follow up to the downside tomorrow or yet another reversal day? LRCX continues to hold support, but like I said before, the more it tests that support, the weaker it gets.

  3. #113
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    Bad news today on LRCX as it broke support and then ran a little to the downside. There are no absolutes, but from a technical perspective, it now looks like it is headed lower still. A big up day in the market could lift it, but the last two days have been moderately weak. I hope Iím wrong. Hereís an updated chart.

    https://www.dropbox.com/s/z7rb0ml4mw...%20PM.jpg?dl=0

  4. #114
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    LRCX found its new level of support today and bounced. I have attached a chart. You have to go way back on the weekly to find the next level of support, which essentially means there isnít one. Does that mean itís heading way lower? I donít think so. In fact, I think this level of support will hold. It may a drop a little more and thrash around this level for a while, but the company is too fundamentally sound to justify another major drop, IMHO. I personally think the big question now is whether it consolidates in this price range or immediately bounces, and I think that will be largely determined by the overall market. The market had been very bearish for several days now, especially with the latest round of tariff rhetoric, but I will keep this one on my watch list because of the potential for a nice bounce. I hope that helps tiedyed1.

    https://www.dropbox.com/s/8agkx4q76w...%20PM.jpg?dl=0

  5. #115
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    Itís time for caution again, IMHO. The NASDAQ has been a little bullish, but both the Dow and NASDAQ are testing the bottom of their current regression channel and could go either way this week. Since last week, Iím have been back to not holding anything overnight (except in my long term retirement account) even though market volatility is still pretty low. Part of the reason is because we are coming into earnings season, during which volatility is likely to increase. Right now, if I wanted to hold a stock through earnings, Iíd probably use an option straddle given all the gaps we have seen over the last few months. I included a couple of marked up charts for the Dow and NASDAQ, so you can see some of the things I am looking at.

    https://www.dropbox.com/s/rf65xa9xyf...%20AM.jpg?dl=0

    https://www.dropbox.com/s/uv86qymlwj...%20AM.jpg?dl=0

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