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Quick-Trade Buys...

Just a quick update on Monday's watch-list post. It looks like a few of the stocks that I highlighted have put in reversals or are in the process of doing so and could be bought. Others like N and OGI (weed stocks) are breaking down, so those patterns are basically nullified for now. The remaining companies are still potential trades for now. Here's a couple of charts:

CIA has reversed hard and could be bought with a stop-loss under the recent low @ around $2.60.

HQD ( double inverse Nasdaq) has also reversed but with less conviction so far. It could be bought with a stop around $5.53 or one could wait for more confirmation (strength). HXD (double inverse TSX) looks similar to HQD.

KNT was not one that I had earlier shown but it looks similar to CIA. It could be bought with a stop under the recent low or the 50 dma. I thought maybe it would get down to the 50 dma but it looks like it may not.

PGM broke across the 50 dma last week and is attempting to test that MA. I am keeping an eye on it but aggressive traders could buy it and put a stop-loss under the recent low $0.49.

Keep in mind that all of these stocks and ETFs are counter-cyclical in nature, meaning that they tend to move in the opposite direction as the broad market. So in some regards, their fate depends on the market rolls over in this area.



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