Last week was highlighted by a breakdown in the price of oil, which caused many of our energy set-ups to fail. In general, commodities sort of fell apart which calls into question the reflation narrative and this warrants caution moving forward. Marijuana also corrected after a strong start to the week but most of those set-ups are still valid as long as we see a reversal in the next day or two. Gold had a strong finish to the week and there are several good set-ups there to consider.
This week I cut a whole bunch of companies from the watch-list. Some of them may still recover and if they do I can add them back. But for now I am not giving them the benefit of the doubt because they need to prove themselves. This includes TEV, XBM, ESI, META, HWO, AAV, HCG, ASR, FR, HSE, WRN, NVA, CR, ROXG, and RUS. AQN, INE, and BLX were removed from the list because they are being tracked on the stock portfolio watch-list. Their removal means that there is no overlap between the two watch-lists.
Buys and New Charts:
Have a great week!