Textbook
With a short-entry signal that’s straight out of David Weis’ training video (recorded in 2007), Alcoa breaks down in dramatic fashion (not advice, not a recommendation).
As of this post, 11:34 a.m., EST, Alcoa has gap-opened lower, currently down, -5.10%.
Alcoa AA, Daily
Prior short, AA-26-03, was exited last Friday with profit.
That action proved to be correct. The next session (yesterday), was a rally into a test.
Today, was a gap-lower open.
There’s a potential for a sustained move. Short, AA-26-04, opened with a stop located at yesterday’s high (not advice, not a recommendation).
Stay Tuned
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The Danger Point®, trade mark: No. 6,505,279
The Danger Point® 
The soxx just ended an 18-day winning streak. Maybe it finally put in a high that we can short against…
My own portfolio has gone sideways the past 2 months. In large part due to bonds selling off. I’ve had good success in names like GNRC and LUNR but their weightings are only 1/20th of the portfolio.
Names like LMT and RTX have been struggling as of late.
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Thanks,
GNRC just released earnings this morning. Currently trading at 245. If it opens at that level, it’s a retrace high, putting it in Wyckoff up-thrust position.
On a longer time frame, the weekly, it’s posting a rising wedge. Typically, a termination pattern.
RTX looks like it has just broken below the neckline of an H&S top.
LMT has a wide bar, posted last week that could be tested (with upside retrace).
As far as the SOXX and the A.I. bubble, I am approaching it differently. Not the SOXX components directly but those associated like GLW, AA and CBRE, all of which have A.I. exposure.
GLW posted earnings yesterday, had a thrust lower that’s retracing somewhat. Watching it closely.
With that said, in a smaller account separate from the corporate account, I’m already short via SOXS (not advice).
I appreciate the input.
Paul
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