Weekly Forecast- Danger Ahead?

Weekly Forecast- Something has to give soon?

SRP Subscription Service: Swing Trading, Forecasts, and More!

If you are not yet a member of SRP, check out our Track Record online and our most recent results at www.stockreversalspremium.com  We have hit multiple winners over last 5 weeks

Our last 5 weeks results of all swing trades closed:

8/24- Sold URI for 5% gains on Full Position Size

8/24- Sold HZNP for 3-4% Gains on Full Position Size

8/24- Sold Final 1/2 MOMO for 30% Gains on Full Position (8 days)

8/23- Sold 1/2 MOMO for 16-20% Gains on Full Position (1 week hold)

8/23- Sold MBLY for 9-11% Gains on original 1/2 Position Size (3 weeks)

8/19- Stopped out of PCRX for 5-6% Loss on 1/2 Position Size (equivalent to 2.5-3% loss)

8/16- Sold Final 1/2 PI for 17% Gains on Full Position (2 week Hold)

8/15- Sold 1/2 PI for 14% Gains on Full Position (2 week hold)

8/2- Sold Final 1/2 EXAS for 9-10% Gains on Full Position

8/1- Sold 1/2 EXAS for 11-12% Gains on Full Position

7/27- Sold Final 1/2 VUZI for 8% Gains on 1/2 Position Size (5% Equivalent)

7/26- Sold Final 1/2 LABU ETF for 16% Gains on Full Position

7/26- Sold Final 1/2 NERV for 15% Gains on Full Position

7/25- Sold 1/2 VUZI for 18% Gains on 1/2 Position Size (5% equivalent)

7/21- Sold 1/2 LABU for 13% Gains on Full Position

OPT in Free for SRP forecasts and more:

If you are not ready to make the leap to SRP subscription, be sure to opt in for our intra-week forecasts and updates and trade ideas. The last one rallied 45% in 8 weeks, and we will keep you up to speed on SP 500, Gold, Oil, Biotech and more!  OPT IN HERE with name and Email

---

SOMETHING HAS TO GIVE SOON??

Markets at key inflection points across the board. An August 30th turn window should see a possible major shift in direction. We lay out SP 500, Gold, Oil, Silver, and Biotech for you below and what  to watch:

SRP Recent Action and Results:

This past week at SRP our MOMO position ran up 40% from a pre-market Buy email the week prior below 15, closing over 21.  We closed it out on the way up for 20% on 1/2 and 30% gains on the other 1/2. We saw MBLY pop early in the week on news of a deal with Delphi, we sold the pop near the weeks highs that morning for 9-11% gains.  We closed out URI and HZNP for small 4-5% gains. HZNP tanked 14% after we got out  for those small 4% gains. URI continue a bit higher and is still cheap, after we sold out. PCRX tanked from our 43 stop to near 39 days later.

• SRP raises cash to high levels for first time in awhile
• We hit 14 of our last 15 closed out swing trades for profits
• We closed out 4 positions this past week for profits to raise cash
• SP 500 must hold 2165 and 2147
• Oil must thrust or it may bust soon
• Gold must hold 1310
• Biotech close to another 8% decline 
• NASDAQ breaks 8 week win streak, possible double top

We entered this week with our August 30th turn window we pointed out a few weeks ago coming up this Tuesday. Our feeling is the markets are about to have a large move, and potentially to the downside to correct the rally from the Brexit lows at 1991 on the SP 500.  A few cracks in the armor recent gives this theory some credence, so we have raised cash at SRP in the portfolio by selling 4-5 of our swing positions for profits in the past 7-8 trading days.  In the event we are wrong and the markets break to the upside around the turn window, we will have cash to deploy.  If we are right and we get a downside corrective pattern, we will have cash to deploy after we see bottoming indicators line up.

Lets review the Bulls vs. Bears and NYSE Short Interest charts from IBD:

Here we see Bulls in Investment Advisor surveys running hot at 57% and Bears at only 20%. A near 3 to 1 ratio usually preceeds corrective wave patterns.

Also, the NYSE short interest which we actually view as smart money has been climbing steady to highest levels since just before the January 2016 drawdown, which by the way began on a turn window we pointed out back then:

SP 500 Views: 2165 and 2147 key

The SP 500 has rallied from the 1991 Post Brexit lows to a high of 2193. We had projected a 2191 pivot back in Mid July for SRP and SR members reviewing our forecasts.  Prior to that on July 4th we projected 2176 all time highs and on May 9th we went on record looking for all time highs when nobody else was.

With that said, we have a pivot at 2165 which we pointed out to SRP members on Friday morning this week as key, and the next one up is 2147.  A break below 2147 will signal a confirmed Major Wave 4 correction underway from 2193 and a break of 2165 should put you on edge on a closing basis:

Forewarned is forearmed. At SRP we like to give our subscribers a roadmap and some key pivot points to be looking for whether on the upside or downside. We prefer not to be surprised nor unprepared. Our methodology of forecasting is contrarian in nature, but tends to give us time to be proactive whether the market is botttoming or possibly topping out.

Note below the gaps below in the SP 500 index on the Daily charts, and on the weekly charts we point out the pivot support points and turn date:

GOLD:  Showing some cracks but still alive? 1310 key or 1268 on tap?

Many weeks back we were a little concerned with Silver looking very toppy in the 20.xx ranges and we thought a pullback to 17.xx would be likely. Silver stubbornly held up but finally cracked recently. We know there is a very large smart money short position on Silver, so that bodes watching.

Gold has not yet cracked but its bending and close to breaking 1310 spot. If 1310 spot breaks we see 1268 as the next support level so short term the risks are higher to be long Gold. However, if we get a re-test of 1310 and a sharp counter rally that could complete the current corrective pattern from 1377 post Brexit highs.

A recent possible “Triangle” pattern broke on Gold this past week, and that brings 1310 into views:

SILVER: Getting close to our July 4th projection of 17.50’s

This was our older Silver projection from July 4th that is playing out a little later than we thought:

OIL: Crucial window ahead: Thrust or Bust

Oil has rallied from the $39 double bottom April test lows a few weeks back to the 49’s and then recently a pullback. About 10 days ago we warned our SRP members at upper 48 area that Oil was extended and due for a pullback to the 46.xx to 47.10 area.  We got that pullback, then Oil rebounded upwards late last week, and now must hold this rally and continue it or its at risk of failing:

Below we believe is a thrust or bust chart on oil.

Here is the Oil chart we updated Tuesday morning for SRP looking for further pullback. We ended up dropping to 46.42 just below our 46.79 target. It then bounced to 48.46 before a pullback late in the week.  Oil needs to rally up hard now we think:

Biotech continues to struggle of late.  Double top pattern

The XBI chart is at risk of faltering as well near term: A possible Double Top pattern much like Silver weeks back is forming. 55.54 on the XBI is a pivot that could bet tested, which is about 8% below current index levels (ETF)

Bottom Line:  We like to be in front of the crowds whether its taking profits or buying dips for swing trading, or forecasting tops and bottoms in various sectors, metals, oil, indices etc.  We are concerned about further near term profit taking ahead and if we are wrong we just cashed out of multiple profitable swing trades in a row. We can deploy cash at anytime, but if we are right and the markets start a larger correction pattern near term we will have lower risk profile, have banked profits, and be prepared for better entry opportunities ahead.

With that said there are still several individual stocks appearing attractive and here is a short list:

GIMO GRUB LGIH NLS TPC PRAH IGT NTES RDCM

Forecasts and Swing Trade Practices

Tuesday, August 23- Updates on Swing Trades, SP 500, Gold, Oil and more

Recent Swing Alert MOMO from last week pops 8% on Huge volume Monday. We advised members last week to buy the pre market drop under 15, now up over 15% from that advice at SRP.  We do not use intra-day stops unless we send a Text and Email alert to take profits of we change our mind. We stick with stops near the close of market on all positions because otherwise you will spend all your time stopping out of good stocks and watching them go back up without you.  If you take a 5% loss intra-day stop on a stock, and then it rallies 15% from that point where you sold later, you would have had to find another position that went up 15% to replace it.  At SRP we set pre-defined areas to add to stocks on dips and customized key pivots where we stop out near the market close only. This has yielded near 80% success rates for profitable trades since our inception in 2013. Below is a recent MOMO chart:

If you are tired of stopping out for losses, chasing up stocks and then watching them reverse down for a loss, missing breakouts from consolidations, and otherwise poor advice with no regular follow up… then consider joining SRP today.

Read up at www.stockreversalspremium.com

Gold continues to consolidate in a $20 range.  Nearing the bottom of the apex of a possible Wave 4 Triangle pattern.  We need to see this hold here and rally up soon to reach our potential 1440-1460 targets we laid out June 1st.

We projected at the $40 area during the last Oil downleg that Oil would rally up from there to 44.80 ranges. When it broke over 44.80 we updated our projection last Monday to 48.10.  We rallied  over 49 and told our SRP members Oil was extended late last week and needed a pullback. Right now we just saw that pullback which is underway and next target pivot is laid out in the chart below:

The SP maintains a 5 week base. It hit our July 15th projection of 2191 early last week and then was rebuffed back to 2168. We have a market turn window of August 30th shown on the chart below. The market should change character, and after 5 weeks of sideways action be prepared for a sharp move.  2147 is KEY SUPPORT for the uptrend from 1991 for Major Wave 3.  2227 and 2245 are upside possible targets:

Weekly SP 500 Gold Oil Biotech Forecast and More

Premium Service Options: SRP Subscription Option

If you have not looked into our SRP Swing Trading and Forecast service, perhaps now is a good time. We not only offer great market beating swing trades with daily guidance, SMS Text, and Morning updates , entry and exit advice… but some of the best market forecasting available on a daily basis. Read up at www.stockreversalspremium.com  and find out how we have beat the SP 500 over 12 to 1 since inception. Full Track Record is online.

 

“You are just too superb at your skills – have seen and subscribed to many services including dudes at big financial firms and many CMT’s, top traders, options analysts – you top them all. Just complimenting for your vision. Keep up the good work ! Respect, G. Shah- SRP Member

Free Service Option: Opt-in today:

If you are not ready to make the leap, opt in free for our intra-week ideas and award winning SP 500, Gold , Oil and sector forecasts which are E-mailed for free to opted in SR members. Name and Email sign up here. 

SRP- Weekly Forecast SP 500 Gold Oil Biotech and More

August 21st SP 500 Update:

This past week we saw the SP 500 Index continue in a 5 week consolidation with a high of 2193 and a low of 2147. We had projected in July 19th a pivot high of 2191 ahead and essentially that was hit and then met with a pullback to about 2168.  This Index remains in Major Wave 3 up from 1991 lows of Major wave 2 post Brexit lows.  We have an August 30th turn date with  a potential interim high completing near that date: The current pivot support is 2146 per our chart below.

Gold

Gold has continued to consolidate in an 8-9 week window and we remain bullish with a our June 1st target of 1440 still intact: Essentially its been trading in a $20 window for a few weeks now.

OIL

Recently Oil tested the April $39 lows and we projected just prior to that a rally to 44.80 as a max Wave 4 rally.  Instead, we soared just over 44.80 and we upgraded our target last Monday to SRP members to 48.10.  We are now just over 49 and therefore Oil is very extended short term and due for a pullback.  However, the long term charts are beginning to argue for a long term rally to 64-65 as possible: A possible ABC – A abc B and now larger C to 64-65 is unfolding. The 13 week EMA line crossed the 34 week EMA which is bullish.

Biotech

The Biotech Sector rebounded after our Mid July forecast for XBI ETF to get to the 63 area from 56.  It has since corrected and may be consolidating for a further run to a gap near 70 in the chart:

Copper

continues to consolidate at the lower end of the Apex with no clear direction yet:

General Summary:

The SP 500 index and markets in our opinion may be nearing an interim top anywhere from 2191-2227 pivot areas by the end of August.  Typically September and October usher in some volatility and often to the downside at some point, and we have the Presidential Elections this year in the USA to complicate matters.

Currently we have Bulls in Investment Advisory surveys running hot at 56% to only 20% Bears. This is typical Major Wave 3 action and sentiment readings.

NYSE short interest has been rising steadily, often seen near interim tops not bottoms believe it or not.

Silver has possibly turned south and Steel stocks are getting hit recently after soaring to highs.  The market feels a little tired, so we would be cautious with being overly aggressive as we approach month end.

9 Swing Trade Ideas:

With that said above, here is a short list of actionable ideas to consider further:

GRUB- Grubhub has consolidated for about 4 weeks after their strong quarterly report

LGIH- Lgi Homes is now in an 8 week bullish base pattern as long as 33-34 area holds

MBLY- This continues to consolidate nicely and is a market leader in the Driver Assistance sector

VIPS- The Chinese growth names have been hot and VIPS is in a rebound phase. Online discount retailer in possible ascending base with resistance at 16

ESNT- Private Mortgage insurance is on the rise with refinancings and a steadier housing market 2 week tight base here with PE ratio of 13

CEMP- Alternatives for standard of care anti-biotics, a tight 3 week base here

CRY- Cryolife is in an ascending 4 week bullish base pattern

XNCR- 3 weeks tight base for this developer of monoclonal antibodies for various treatments

AMPH- Ascending Base pattern for this developer of injectable and inhalation products

 

Weekly Forecast SP 500 Gold Oil Biotech and more!

Premium Service Options

If you have not looked into our SRP Swing Trading and Forecast service, perhaps now is a good time. We not only offer great market beating swing trades with daily guidance, SMS Text, and Morning updates , entry and exit advice… but some of the best market forecasting available on a daily basis. Read up at www.stockreversalspremium.com  and find out how we have beat the SP 500 over 12 to 1 since inception. Full Track Record is online.

Free Service Option: Opt-in today

If you are not ready to make the leap, opt in free for our intra-week ideas and forecasts which are E-mailed for free to opted in SR members. Name and Email sign up here. 

Dave,

Thanks for the great first week and a half.  My acct. is up 150% playing options on 3 of your picks.  Your burning match theory is right on. Thanks, Mark- SRP Member 7/30/16

More Highs Ahead? August 30th Turn Window? Elliott Waves in Practice!

“Understanding Elliott Wave Theory and applying it are two different things, but if you can master it you gain an unfair advantage”- Dave, Chief Strategist, SRP

The SP 500 index hit a high of 2188 this past week, just 3 points below our 2191 target we have had out for several weeks now. Back in early July we projected all time highs of 2176, and weeks later we hit that number and have struggled to get over it until just recently.  We still have the SP 500 in Major Wave 3 up from 1991 post Brexit lows of 1991.  As the market was falling then, we told our SRP members we expected 2001 to contain the downside damage, and it did  as we closed right around there for the closing Post Brexit lows.

Our targets for Major Wave 3 from 1991 are 2191 and 2227 near term, and we also have a Market Turn Window of August 30th.  Loosely, we expect a rally into the end of the month and then some corrective action, perhaps Major Wave 4.

Below we show you the Daily chart and 5th wave up of Major 3 (The final leg) and the weekly chart in Major Wave 3.

What is a Turn Window?

We use these turn windows only sparingly as part of our forecasting models here and there. The last major one we pointed out was late February, which turned out as the market low.

As we always like to tell members who ask us for timing forecasts, “we just do price and direction, not time”.  However, there are clear cut cases where we have proprietary models that have turn windows that usually come at interim pivot highs or lows. In this case since we are in Major Wave 3 and rallying towards the August 30th window, it would rhyme with a possible Major 3 high near that time.  We will monitor and advise but wanted to point it out early to our members and followers both.  Otherwise trying to predict the exact time of a price projection is often a fools errand.  However, we have reason to be cautious around that pivot date.

OIL HITS 44.78, 3 pennies off our July 31st target! Elliott Waves Strike Again…Oil in new Uptrend?

Speaking of price and direction. We projected an Oil rally to as high as 44.81 a few weekly forecast reports ago.  Oil hit 44.78 on Friday this week, within 3 pennies.  How did we do that? Elliott Wave patterns that we forecast in advance, often with scary accuracy. Why does it work? Behavioral patterns dictate of lot of bull and bear market and cycle behaviors, and they repeat over and over again. The hard part is figuring them out and understanding where you might be in the pattern that is unfolding.  Here is what we charted out on Oil a few weekends ago for our Forecast readers:

Our comment then was “Oil will have to take out 44.81 for us to get bullish intermediately“. In English, if we close over that level that means likely we have confirmed a new uptrend, and not just a light bounce.

Our July 31st Chart on Oil below and next the updated August 13th Oil chart:

GOLD all over the place, Targets still intact?

We are still on track for our June 1st forecast to see 1440-1460 as an intermediate target on Gold from the 1201 Wave 2 lows.  In Late May we forecasted an ABC Irregular pattern in Gold that would end between 1195-1205.  We bottomed at 1201 and then we confirmed a new Major Wave 3 uptrend with a 1440-1460 forecast.  So far we hit 1377 as the high and have been backing and filling since then. This past week the volatility was insane as we saw back and forth $20 gold spot price swings up and down on Friday alone with Gold closing at 1335 spot.  Our only concern would be if Gold drops below 1310 which was our Wave 2 bottom forecast a few weeks ago, then we would see 1270’s likely. That said, our view remains for this consolidation to end up resolving to the upside:

Biotech Rally: Elliott Waves Also Predicted It July 15th

Finally, in Mid July when most were bearish on Biotech, we forecasted a rally in the Biotech sector. Specifically reviewing the XBI ETF which is made up of larger Biotechs and Pharmas. At the time we showed our SRP members that at around 56 area we could rally to 63 area and LABU ETF would prosper. We projected a rally in LABU from 32.50 to 40-43 ranges.  We profited on the way up and sold out a bit early but banked gains and moved along.

At SRP we believe swing trades are like burning matches, they flare up and we take profits on the flare up… then later they stop flaring and then turn to smoke. We don’t try to be heroes, instead we take the gains during the flare up and move along.  We believe this reduces portfolio risk, banks gains more regularly, and avoids giving back gains on volatility.

Here was our original XBI Forecast we laid out in an LABU 3x ETF alert for SRP members mid July and after this chart the updated August 13th views:

General Strategy Discussion: Indicators in Major 3, NYA50r, NASI, Sentiment

We like to look at other indicators during either strong Major corrective downside waves or upside wave patterns to try to ferret out tops and bottoms. Just using Elliott Wave patterns alone wont get it done on a consistent basis, so we like to layer in other proprietary indicators to keep us on track.  Below we update a few of them that are popping up during this “Major 3” rally from 1991.  Keeping in mind that 3rd waves typically are the most bullish in terms of sentiment and action.

Everyone feels giddy during a Wave 3 up, and you have to be careful not to stray outside your disciplines. This is when big mistakes are made and capital is given back if you are not careful. Many stocks are stretched or without proper base patterns, so be careful not to chase performance and be sure to take profits.  Investors Business Daily perhaps says it well in this weekends edition: “Many times good gains persuade the individual investor to ease their standards in the anxious desire to et more exposure quickly. Bad idea.”  

Keep the discipline in good times and bad… for best long term results.

NYA50r– This is the Percentage of NYSE Stocks above their 50 day moving average. This remains high right now: Note that Post Brexit vote this was a 29.78 % reading with SP 500 at 1991-2000, and now its 75% of stocks at a high reading with SP500 at 2184. At the Primary Wave 4 lows this was an astounding reading of only 10% of stocks above the 50 day ma line, everyone was sold out!

NASI– The Mclellan Oscillator helps to see the bullishness in NASDAQ as reflected in technicals: As we  can see here everyone is feeling giddy, typical of a Major Wave 3 pattern:

Bulls Vs. Bears:  In the most recent Investment Advisor surveys we have 54% Bulls and 21% Bears, obviously this boat is tilted to the Bull side, typical of  Major wave 3 up.

With the above all in mind, we have a large list of Swing Trade candidates below. An abbreviated symbol only version this week if you will excuse us:

LGIH– Nice pullback for homebuilder; LITE- Optical networking is hot; NTGR– Networking equipment; AHS– Pullback is steep; TREE– Ascending base for this lender; GRUB– 3 weeks tight base for this food delivery leader; VIPS– China is hot; FN– Manufacturer of optical and other components;BUFF Post IPO pet food leader; AMPH– Post IPO leader; LN– Asian messaging post IPO leader; PCRX– Finally on track with their surgical post op pain reliever; CRY– After all these years its moving upwards; MOMO- Earnings due early this week for this messaging provider; RAX– Rackspace is back with new products.

 

SP 500 Gold Oil Forecasts and More!

Weekly Forecast SP 500 Gold Oil Copper and More!

If you have not looked into our SRP Swing Trading and Forecast service, perhaps now is a good time. We not only offer great market beating swing trades with daily guidance, SMS Text, and Morning updates , entry and exit advice… but some of the best market forecasting available on a daily basis. Read up at www.stockreversalspremium.com 

Our 2nd quarter swing trade report had 19 winners and 5 losers. We have also hit our last 7 swing trades for profits in the last few weeks, consider joining us today!

If you are not ready to make the leap, opt in for our intra-week ideas and forecasts which are E-mailed for free to opted in SR members. Name and Email sign up here. 

Dave,

Thanks for the great first week and a half.  My acct. is up 150% playing options on 3 of your picks.  Your burning match theory is right on. Thanks, Mark- SRP Member 7/30/16

I couldn’t be happier with your services and professionalism. I’m blown away by your response time and even more so, how simple and easy you made this process. I continue to only speak the highest of SRP. You’re great. Thanks again, Dave. Take care, Steven- SRP Member 7/29/16

August 7th Forecast Report- Market hits highs as projected last week

This past week we saw the SP 500 rally to all time highs. We have been projecting a 2191 pivot level for several weeks now after our July 4th projection of a 2176 top.  The pullback in a minor wave 4 was light and that is congruent with our “3rd of a 3rd” pattern we have discussed. We are in Major wave 3 up of the  5th primary wave from 1810 lows. Major 3 is often very bullish and since 1991 it has been, up almost 200 points now.

Current Targets :2191 then 2226 and 2245 as 3 major pivots ahead by August 30th.

Below we have our updated charts on the SP 500 path.  We show the Weekly view first then the Daily views:  We have a turn window of August 30th for this rally in the market by the way

BIOTECH RIPPING:

We projected an emerging Biotech rally for our Subscribers several weeks ago. Our analysis was based on the XBI ETF. This is generally larger cap more established names in the sector.  At 56 we thought a pivot was at hand and a rally to 63 was likely. We have now surpassed that level and we could stretch as high as 72.50 per the XBI chart below:

Note the gap from January 2016 near 67 seems like a magnet for this ETF.

GOLD UPDATE: Gold and GDX charts)

Gold had a big drawdown on Friday on the back of the Jobs report which was stronger than expected. We find that to be not much more than noise. Our support is 1326 spot and our intermediate targets laid out on June 1st remain at 1440-1460: This pullback could be part of a more complex wave 2 pattern still…

The GDX ETF:

Note the 2013 gap has filled for the GDX ETF some 2.5 years later.  Support is at 28.31 which is the 10 week EMA Line for the Bull cycle of Gold stocks. A pullback here is normal.

OIL IN WAVE 4 BOUNCE

We forecasted Oil to rally in a Wave 4 bounce last Sunday in the Weekly report on July 31st.  We bottomed around 39 and have  climbed towards 42. Our targets were in the 43-44 ranges last weekend, here is the updated chart:

Copper for now has Failed a rally attempt: 

Copper will need to take out 2.27 before we can get bullish

Swing Trading Updates: POST IPO Base back in vogue and Burning Matches

Obviously many stocks are in uptrends as we are Major Wave 3 of Primary 5 for the Bull Cycle. We like to look for consolidating stocks in uptrends or pullbacks within strong uptrends at SRP as part of our Swing Trading work. We also look for out of favor sectors or final pullbacks in newly emerging sectors. Recent samples NUGT  ETF prior to Brexit vote yielded a 25-30% gain in days.  LABU ETF in the Biotech space yielded 16% gains within a week and VUZI for 18% gains in 4 days. All of these had pulled back and were temporarily out of favor at the time of our entry. We like to sell into “Flare ups” and take profits, which we call our “burning match” methodology.

Also of late we are seeing a return of the IPO market which can bring us some of our “Post IPO Base” plays we love.  A good post IPO base can garner nice rally returns if you buy during the pullback and consolidation phase. We wrote up YIN back in early June as our Post IPO Base play of the month at 12.75, that stock is up 21.4% since then and still is very undervalued.  We have a $21 target for fair value.  Currently at SRP we are riding another recent POST IPO Base as an open position alerted last week.  Post IPO  bases are great because these are names not yet widely followed and or often in a quiet period after the IPO.  Doing the due diligence includes reading the boring but important S-1 Prospectus filings for hidden gems.  The key is finding the IPO that investors initially pushed up then lost interest in, and as the volume and price contract and traders move on, we move in.

This week we have 5 fresh Swing Trade stock ideas as always, below is a brief list:

MXL- $21.44 On our list multiples times of late.  Earnings are due Monday so there is some near term volatility risk but we like the business, valuation, and chart.

SIMO- $53.46  Nice 5 week base here with recent 69% yoy growth and a PE Ratio of 20.

LGIH- 32.67- Has pulled back nicely, this home builder has been on our list often of late. 6 week base and we would like to see this 32 area hold, earnings are due this week.

HZNP- 20.10 8 day base near top of recent range. The pharma group has been back in favor.

SUPN $23.11  Develops specialty drugs for epilepsy and ADD disorders. 5 week ascending base is attractive.