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Market Recap March 22, 2017

MARKET SNAPSHOT Dow 20661.37 -6.64 (-0.03%) Nasdaq 5821.65 +27.82 (0.48%) SP 500 2348.43 +4.43 (0.19%) 10-yr Note +6/32 2.397 NYSE Adv 1586 Dec 1344 Vol 1.03 bln Nasdaq Adv 1211 Dec 1611 Vol 1.69 bln   IN THE NEWS HIGHLIGHTS: Uncertainty in Washington after reports suggest that Republicans don’t have the necessary votes to pushREAD MORE

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How I’m Trading the Oil Crash

Last week’s missive spotlighted the sudden resurgence of volatility in the oil patch. Today I want to pick-up on the theme and layout one-way traders might try to capitalize on the situation. If you can come away from today’s tale with a better understanding of how to take advantage of higher implied volatility with nakedREAD MORE

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Oil Volatility Strikes Back!

Volatility has finally returned to the oil patch. And that’s a good thing. Before yesterday’s bloodshed, the Street’s favorite oil ETF, USO, had become a total bore. Its direction, trendless. Its volatility, dead. And then Wednesday happened. The volatility beast returned to ravage the land sending USO down 5.6% amid oh-my-gosh volume. From a priceREAD MORE

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PTC Therapeutics, Inc. Goes on Another Biotech Roller Coaster Ride

There are certainly some roller coaster rides you can go on if you trade biotech or pharmaceutical stocks. In addition to the unknown and known events that every company has, there are constantly (at least it seems that way) news related to the company’s development of drugs and therapeutics that dramatically impact the stock. ThatREAD MORE

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Monster Earnings Pleasantly Surprises…What to Do Next?

Monster Beverage (MNST) was in a consolidation pattern for a few months before pleasantly surprising on earnings. While there are no great patterns currently that can change quickly and the resistance level that formed last year is certainly one to be aware of if you are going to trade this stock.

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Etsy and $10

Round Numbers can play a major role in the formation of new support or resistance zones. Numbers such as $10, $20, $30, $40, $50 and so on often create a phycological barrier for traders and investors in the formation of new price levels. Following a negative earnings report it will be interesting to see howREAD MORE

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The February That Was

Time for the second installment of our monthly retrospectives. If you missed last month’s, then your life is half as joyful as it should be and not nearly entertaining enough. So take a quick peek at January’s by clicking here. As mentioned in my prior missive these monthly delights are meant to be retrospectives whereREAD MORE

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Sotheby’s (BID) Breakout on Earnings – Beautiful Consolidation Pattern Shattered

Earnings can be a catalyst for changes in trend, the formation of a new trend or breaking out of existing resistance or support levels. That certainly was the case for Sotheby’s (BID) today as it broke out of a short-term resistance level. The consolidation pattern heading into today’s earnings announcement was a very nice patternREAD MORE

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Universal Display (OLED) Breaks Resistance on Earnings and Keeps Climbing

Earnings can be a catalyst for changes in trend, the formation of a new trend or breaking out of existing resistance or support levels. That certainly was the case for Universal Display (OLED) on Friday as it broke out of a short-term resistance level. The leader in the OLED market beat expectations and enthusiasm behindREAD MORE

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J.C. Penney Company Support Holds After Earnings

Even after a negative reaction to an earnings report, one of the things that traders look out for is if levels of support were broken following the earnings. If support levels fail, then this can be a very bearish signal but if they hold then it can create a little bit of a puzzle. TheREAD MORE

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