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Best Stock Charts November 25, 2018 | Facebook (FB) Stock Chart Analysis

Best Stock Charts November 25, 2018 | Facebook (FB) Stock Chart Analysis

In best stock charts this week we discuss the signals by the market which are major breakdowns in large cap stocks such as Facebook (FB) , Deutsche Bank (DB) and General Electric (GE). We review the stock charts of these names and discuss if they will proceed lower.

 

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****Symbols Are Reviewed In The Sequence Below*****

$FB

$DB

$GE

$ROST

$DLNG

$FEYE

$NBEV

 

 

 

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okay folks welcome to best stock charts

 

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for the coming week and this is Bob

 

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Desmond at the contrarian trader and

 

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Happy Thanksgiving to everyone I hope

 

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everybody enjoyed the holiday I received

 

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a bunch of Thanksgiving Day well wishes

 

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from you folks and I really appreciate

 

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it my holiday was great looking forward

 

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to the Christmas holiday and Happy

 

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Hanukkah and Merry Christmas to everyone

 

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out there happy Kwanzaa as well and

 

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what’s the other one Festivus well it’s

 

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the holiday season that cheer is on

 

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let’s get started with Beth stock charts

 

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for the coming week so here’s the

 

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rundown I’m going to talk about some

 

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housekeeping first off secondly I want

 

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to roll into the chart of Facebook and

 

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some news that came out over the weekend

 

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then we’re going to talk about the

 

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events unfolding in terms of the charts

 

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not necessarily the news but what the

 

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charts are telling us about the banks

 

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over in Europe and General Electric here

 

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in the United States what does it all

 

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mean I’ve been talking about Facebook

 

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General Electric and Deutsche Bank the

 

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their charts for several months now and

 

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none of it was bullish it was all

 

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bearish and you could see that the

 

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condition of these stocks right now it

 

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looks like they are all going lower then

 

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I’m gonna leave off with some watch

 

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stocks for the coming week a few of them

 

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are extreme oversold stocks and in this

 

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type of market environment I really

 

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don’t want to trade the momentum stocks

 

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because momentum trading right now is

 

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dead in the short-term not long-term but

 

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then in the short term I want to play

 

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the extremes I want to play those stocks

 

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to the long side that have a probability

 

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greater than the overall market for

 

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rebounding whether it be due to a short

 

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squeeze whether it be due to an

 

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institution identifying the fact that

 

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there is value and where the shares are

 

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currently priced so let’s kick things

 

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off first with housekeeping the new

 

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website is coming out and coming out

 

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very soon we’re targeting the last week

 

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of December first week of January so for

 

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those members who are members prior to

 

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the launch

 

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the new website which is gonna have a

 

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lot more value you will not see a

 

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membership fee increase if you enroll if

 

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you join after the website launches

 

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there will be a new pricing structure

 

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and it will be higher so take advantage

 

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of current pricing get locked in right

 

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now and begin earning through saving as

 

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we proceed into the new year alright

 

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let’s begin the charts off with Facebook

 

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now over the weekend news came out let’s

 

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go to it news came out on zero heads in

 

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an unprecedented move Parliament the UK

 

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Parliament ceases Facebook documents

 

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after latest Zuckerberg snub I have been

 

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saying Mark Zuckerberg is the poster

 

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child for all that is hainted in tech

 

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land these social justice warriors have

 

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a target on their back visa vie the

 

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federal governments of the United States

 

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the UK and the European Union I’ve been

 

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warning about the chart of Facebook for

 

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months in fact you can go all the way

 

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back to March of 2018 and I was warning

 

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in fact I’m gonna play you a clip of

 

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what I had to say about Facebook back in

 

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March of 2018 here you go it may have

 

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been that break now you can see that on

 

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a weekly basis we’re putting in lower

 

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highs and lower lows so we had the RSI

 

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which has been telling us since November

 

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that there’s something wrong here

 

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stochastic the same thing and whenever I

 

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see the Stokes trading down below the 50

 

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level I always teach members that

 

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rallies fade rallies fade and what

 

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happened the week of February the 26th

 

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we rallied the rally faded yes we

 

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bounced back but what’s happened since

 

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we faded once again now we are rolling

 

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over once again and if we break down

 

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below this prior low and we make a new

 

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weekly low especially after the Fed

 

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meeting it’s all over for a while and if

 

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we get

 

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breakdown below 160 7.18 and we close

 

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there on a weekly basis it’s done it’s a

 

102

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short all day long

 

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members will be looking at short

 

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Facebook on any break but what happens

 

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if the Fed meeting goes well and they

 

106

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come out with a double tone and stocks

 

107

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rebound we’ll look to buy Facebook as

 

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along when it closes back above

 

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resistance not until then as it stands

 

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right now

 

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the probability of Facebook breaking

 

112

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down further is very very high the

 

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probability of us retesting this support

 

114

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level is extremely high why it’s because

 

115

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we had broken out and now we have broken

 

116

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back down below a prior breakout point

 

117

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that is a breakout point failure or a

 

118

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bull trap when you get this type of

 

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price action on volume the less the

 

120

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probability of you seeing the lower band

 

121

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of support again is very very high the

 

122

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probability of it breaking is also very

 

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high so Facebook is purely a watch I

 

124

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wouldn’t do anything right now with

 

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these shares until after the Federal

 

126

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Reserve meeting and which ever direction

 

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Facebook takes with the market I would

 

128

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go in that direction but it must either

 

129

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a break down below support for me to get

 

130

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short or B recapture resistance for me

 

131

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to get long one of the two but it must

 

132

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do one or the other so until then sit on

 

133

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your hands display patience I wasn’t

 

134

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born with patience it is a learned

 

135

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behavior on my part but if you master it

 

136

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it’s very profitable all right so let’s

 

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go to the chart this is a daily chart

 

138

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let’s go to a weekly chart so here was

 

139

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March we broke down we broke down below

 

140

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key support at 167 18 and as I mentioned

 

141

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should we break that support level we

 

142

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would drop like a stone and we did all

 

143

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the way down to this lower band of the

 

144

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rising uptrend channel the shorts got

 

145

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squeezed and all the Fang stocks began

 

146

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to take off and in fact made new

 

147

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all-time highs but remember

 

148

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they were the only things that were

 

149

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keeping the S&P 500

 

150

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positive for the year that all ended

 

151

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right here in July when you saw a

 

152

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bearish key reversal on Facebook and we

 

153

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had given up in one week what took a

 

154

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couple of months to accumulate this was

 

155

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horrible price action a bearish key

 

156

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reversal and the moment we broke that

 

157

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battlin and the moment we began to break

 

158

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down yet again below 160 7.18 it was all

 

159

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over we tried to recapture it here in

 

160

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September that recapture failed we

 

161

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rolled over broke down and we began to

 

162

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put in lower lows the rest is history

 

163

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now last week we bounced off the 125

 

164

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level which was a breakout point back in

 

165

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January

 

166

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is this a bottom I don’t know yet right

 

167

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the reason why I don’t know is because

 

168

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we don’t know how Facebook is going to

 

169

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respond to the news that was released

 

170

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over the weekend now if it behaves well

 

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daily chart if it behaves well that

 

172

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means that the news may be priced in and

 

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that were nearer to the bottom on

 

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Facebook than what you might think

 

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however if we drop like a stone which I

 

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think that we’re probably going to do

 

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look for another leg down on Facebook

 

178

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now leading us over and into the

 

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European banks and the poster child for

 

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the European banks is of course Deutsche

 

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Bank monthly chart here I have been

 

182

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warning about Deutsche Bank for a year

 

183

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now at a minimum while all the other

 

184

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major banks were able to rebound and

 

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stabilize after the financial crisis

 

186

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Deutsche Bank continues to press down

 

187

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and make new lower lows and I warned

 

188

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back here and back here beware of the

 

189

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$10 mark on Deutsche Bank you don’t want

 

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to see a bank especially a money center

 

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bank training down in the single digits

 

192

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as Deutsche Bank is right now now last

 

193

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month we broke it we closed

 

194

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in the single digits we took out the

 

195

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lows of 2018 so far this month we have a

 

196

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bearish key reversal with only a few

 

197

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trading days left to go how is this

 

198

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setting up not pretty what is going on

 

199

00:09:05,120 –> 00:09:10,189

over at Deutsche Bank what skeletons

 

200

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from the financial crisis do they still

 

201

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have in their closet that they have not

 

202

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written off yet beware of Deutsche Bank

 

203

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and of course the other banks as well

 

204

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because the question must now be asked

 

205

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who has counterparty risk to Deutsche

 

206

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Bank General Electric all right so the

 

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American companies are not of course

 

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guilt free as a relates to corporations

 

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that have some serious problems General

 

210

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Electric monthly chart has an RSI of

 

211

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thirteen point seven seven this is

 

212

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significant and it looks as though we’re

 

213

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going lower but the time is coming very

 

214

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very soon when GE is going to be a Buy

 

215

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and I’ve said this before and it’s worth

 

216

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repeating and current the yield on GE is

 

217

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six point three four percent that is not

 

218

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a same dividend expect a dividend cut

 

219

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then expect the sell-off it’s on that

 

220

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sell-off that I want to be a buyer of

 

221

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General Electric daily chart a very

 

222

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bearish week last week but we should see

 

223

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a rebound fairly soon we have a bearish

 

224

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key reversal and clear resistance at

 

225

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$9.00 per share another bearish key

 

226

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reversal on the 19th it looks as though

 

227

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we are going lower we still have some

 

228

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real serious volume to contend with

 

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again folks we want to hear those

 

230

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magical words the magical headlines GE

 

231

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cuts their dividend that will be music

 

232

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to my ears Ross Stores this is our first

 

233

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extreme oversold stock this was an IBD

 

234

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darling investor’s business daily it is

 

235

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now broken and we are now nearing some

 

236

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very good support levels down in the

 

237

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high 70s and that’s where I think we’re

 

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going to go to the high to mid 70 dollar

 

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on Raw stars big down volume and he

 

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can’t fight these guys these are

 

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institutions selling that mom-and-pop

 

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selling 100 shares so allow them to

 

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distribute their shares daily chart we

 

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have RSI at eighteen point five eight

 

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again

 

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big big volume I think that we’re still

 

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gonna go lower here but soon we’re gonna

 

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have a very nice situation where we have

 

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RSI in our favour it’s close to being in

 

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our favor but not quite yet because we

 

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haven’t hit historical support yet

 

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members we’re gonna talk more about raw

 

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stores and a good entry point on the

 

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weekend commentary coming out later

 

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today the next chart up DL ng Dyna gas

 

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LNG partners RSI 14-point through eight

 

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very interesting stuff here I think that

 

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we’re very close to a bottom we’re gonna

 

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be looking to get long of D LNG out of

 

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historical support level members later

 

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on today on the weekend commentary we’ll

 

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talk about those historical support

 

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levels and we’ll talk strategy of as to

 

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when we want to get involved but let’s

 

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remember we still have institutional

 

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distribution here so we need to enter

 

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with caution and that must be at an

 

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historical support level because that’s

 

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where our risk reward is most of our

 

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favor

 

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fireEye not so much a extreme oversold

 

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stock but we are flashing an invert and

 

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head and shoulders set up left shoulder

 

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head right shoulder we did break out we

 

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have since pulled back it sort of a

 

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weekly chart it’s cleaner here you have

 

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it we broke out of this wedge formation

 

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we’ve pulled back we’ve rallied off the

 

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lows I would like to be a buyer of fire

 

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I on strength meaning a breakout above

 

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this upper band of resistance members

 

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will talk more about an entry point for

 

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fire right to the long side on the

 

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weekend commentary again coming out

 

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later on today this is a member stock

 

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chart request new age beverages weekly

 

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chart we had a big spike higher and a

 

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breakout the week of the 17th of

 

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September we went parabolic this appears

 

290

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to be a short squeeze

 

291

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short covering rally and we have now

 

292

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pulled back and we are consolidating the

 

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week of the 12th was a very bullish

 

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weekend that we flashed a bullish

 

295

00:13:30,930 –> 00:13:35,070

reversal week implying that we had

 

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retested support and it held there were

 

297

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buyers down there willing to step in and

 

298

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bid the shares up last week not much

 

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happened it was inside week no new high

 

300

00:13:44,460 –> 00:13:51,510

no new low volume about average smokes

 

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are putting in higher lows no breakdown

 

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yet but caution flag on the track I

 

303

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would be wary of a breakdown below this

 

304

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support level here three point five zero

 

305

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I would be bullish on a breakout and

 

306

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close above this dotted blue line which

 

307

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would be a breakout above resistance

 

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daily chart all right so the daily chart

 

309

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is looks very similar to the weekly

 

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chart in that it’s a lot more noisy but

 

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here’s your defined upper band of

 

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resistance and your two lower bands of

 

313

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support we need to see a breakout above

 

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this upper band of resistant and on the

 

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23rd you could see that we rallied and

 

316

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we sold off so you have summers above

 

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here so just be careful don’t buy on

 

318

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strength if it does not appear poised to

 

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00:14:35,640 –> 00:14:40,740

close above the upper band of resistance

 

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because the rally may just fade as it

 

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00:14:40,740 –> 00:14:47,430

did on the 23rd members let’s segue now

 

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00:14:45,270 –> 00:14:49,860

over and into the weekend commentary

 

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which is where I review market pulse

 

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00:14:49,860 –> 00:14:53,040

check which is a review of the health of

 

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00:14:51,660 –> 00:14:55,440

the overall markets where have they been

 

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where do I think that they’re going then

 

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we’re going to talk about our positions

 

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and of course we’ll do a deep dive into

 

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our watch stocks if you’re not currently

 

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remember again remember new website

 

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coming out join now save a few bucks on

 

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membership costs and I hope to speak to

 

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you soon be well