Interesting one in $OXY net debt $37Bn mkt cap $15Bn… selling down some chunks. I think they’re shale exposed, not an expert in the sector but obviously they’re under massive pressure as the cost of extraction is far higher than current oil price. Reversed just before the gap fill and finishing weak today.

OXY Brown Oscar K Former SVP S – Sale $20.26 -63,905 36,223 -64% -$1,294,903
2020-05-11 18:49:08
2020-05-08
OXY Brown Oscar K Former SVP S – Sale $14.85 -30,000 100,133 -23% -$445,500

If I get a chance & I see anything compelling or at least have a good read on some of the charts of the big solar stocks, I will. At quick glance, I can say that the solar stocks have been trading pretty much in line with the Nasdaq 100 (QQQ) and tech sector & like them, has triggered a solid sell signal today on this impulsive & solid gap down below the primary uptrend line off the March lows. First support on TAN around 33.00. Here’s my daily chart.

I’ll take a look at it & consider adding it to the Tools Of The Trade section.Thanks!

IWM is still an Active Short Trade as the maximum suggested stop, if targeting T4 or beyond, was & is still is 155.50. I provided two suggested stops for that trade with the other stop at 149.90 for those only targeting T2 or T3. That stop was recently hit.

CAN is a semi. Maybe not a component of any of the semi sector ETFs as CAN is a small, relatively newly listed stock, but worth watching the sector as I have SOXX testing key uptrend line support right now. SOXX could bounce off support here & if so, that might provide a tailwind for CAN if it bounces off this TL backtest. With some pretty solid sell signals on the broad market today, it might be best to see if those stick or if the market (and Lord Powell) can power up in the next week so & undo those sell signals (very bullish, if so although I don’t favor that).

I show SNES testing & reversing off the trendline so no buy signal yet (chart below).
CAN broke out on Tues, started to follow thru yesterday & is backtesting the trendline today. While these stocks are not top-weighted index components & have the potential to buck whatever the trend in the broad-market is at the time, today’s selling in the market is very impulsive & that comes after several days of the market & especially the crap stocks that the retail crowd has been chasing (HTZ, airlines, etc..) moving lower. As such, the momentum trade has been broken or, at the very least, temporarily checked. As such, the music has stopped playing & it might be best to be extra selective on taking or holding any long positions while focusing on shorts for now.

Hard to say what they will do after hours and pre-market tomorrow.

Perhaps worth putting in the resources section of the wesbite?

http://openinsider.com/screener?s=&o=&pl=&ph=&ll=&lh=&fd=730&fdr=&td=0&tdr=&fdlyl=&fdlyh=&daysago=&xs=1&vl=&vh=&ocl=&och=&sic1=-1&sicl=100&sich=9999&grp=0&nfl=&nfh=&nil=&nih=&nol=&noh=&v2l=&v2h=&oc2l=&oc2h=&sortcol=0&cnt=100&page=1

If that trade would not have been stopped out already.

here.. What Is a Bag Holder?
A bag holder is an informal term used to describe an investor who holds a position in a security that decreases in value until it descends into worthlessness. In most cases, the bag holder stubbornly retains their holdings for an extended period, during which time, the value of the investment goes to zero.

Also, I’m wondering how much pain these guys can take. Mean loss? 10%?

I see the number retail longs of Hertz has increased by 12k since it has dropped 69% in 4 days. Experienced traders may cut their losses, search the term ‘bag holder.’

https://robinhood.com/collections/100-most-popular

Yeah I think you can slice it in two different ways. I see potentially 2 TLs (My levels are aligned against hourly chart so they look a bit off on daily)

Here is what I see.
https://www.tradingview.com/x/KYqjg1zg/

IMO it’s not over for CAN yet, but any move below 2.05 would be bearish.

Also just want to reiterate the double tap on AAPL last time led to a 44% draw down. It may never happen but as Randy says he’d be ‘remiss’ not to point it out.