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Observation Update

Commentary

So far so good for the month of September.  The upper tier stocks continue to hold their trends, and a few of the other stocks have kicked it up a notch or two this past week.   An added bonus was the buyout of DTSI yesterday.  

The markets have had relatively little movement since the start of July, which is perfectly fine. When certain sectors are working well, they simply need the market to behave.

Portfolio Summary

For new members, there are three positions currently in the portfolio that are within a current base and worth following.  UBNT, MTCH, and RSYS are the three.

Watchlist Summary

The watchlist and screens have all been updated today.  Currently the screens are producing fewer names than last month, but the drop-off hasn't been large enough to become a concern. As you scan through the lists over the next few days, try to focus on the weekly pattern setups. Compare what you see in the watchlist to stocks you like.  Are they similar?  One of the most important parts to trading is the development of pattern recognition.  Below are 8 setups that have strong weekly patterns.  The daily charts are included for you to use the entry line to help determine your position sizing.

GDX & GDXJ

Two other ideas are GDX and GDXJ.  They've been consolidating for a few months and had strong moves to the upside today.  Both are offering good risk to reward entries.  Below are the charts.

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