Energy markets are experiencing their own March Madness, notes Phil Flynn, senior market analyst at ...
The Weekly Whisper from the Dark Pool: CMCSA, XLE
09/21/2017 2:47 am EST
Before we get to this week’s Whisper, let’s talk about the last week’s Whisper. Last week, Sept. 13 I brought it to your attention that we had a massive, highly unusual print on Nvidia (NVDA). So unusual I had to whisper about it. And you guys were bullish about $171 and wow this thing had a power move just two days later. All the way to $190. My traders were rocking it.
So what are we watching today? Today is Sept. 20. Guess what I spotted? Massive prints in Comcast. (CMCSA). Let me show you these. These are huge, 3 million at $37.50, another 683,000 share print at $37.50. And then another 800,000 at $37.50. So pretty easy, we’re going to bullish above, bearish below. No thinking. But big prints, big splash.
But I want to give it a little bit of room, so tomorrow (Sept. 21) if we close above $37.50, I’ll be bullish but I’ll be more bullish if we can clear $37.75. I like to watch this on the daily chart. If we can close above that momentum changing from negative to positive, and absolutely this is going to be a big runner-up. $40 would be my target. However, if it can’t and it starts to break down, $37.20 key level. We spotted big prints there yesterday. I would turn bearish. I would turn uber bearish if we break below $37. Those are definitely levels to watch.
Also today, spotted big prints on (XLE) and I want to show you those as well. Really big.
If you’ve been following my Whispers, I’ve been really bullish on the energy stocks. Over the past couple weeks we’ve had really big buying coming in especially on Halliburton (HAL) and Energy Select Sector SPDR (XLE).
Today we spotted 1.5 million on XLE at $66.80. And also a 640,000 print at $66.80. So it’s going to be like this pretty easy. I love this if it can break above $67. There are some sellers early. We did close above the print. I want to give it a little bit of room. I would only be bearish if we broke below $66.50.
Come watch me trade all day long in the Java Pit. Happy trading everybody! You can do a 30-day trial.
Recorded: Sept. 20, 2017
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