Watchlist 9/6/14

Comments below charts...

Biotech coming back to test the breakout level of 266, Adding to my position here.

Nike breaks out. This pattern is looking ripe for a buy opportunity. Setting up for higher prices. Very close to the 50ma.

The NASDQ has been consolidating past few days and looks poised to move higher. I added to my position here.

Best Buy setting up for higher prices. 

HP has been on a hot streak and looks like it might be back to test its previous breakout level. Possible entry opportunity.

Microsoft breaks out and is showing a nice signal for higher price action.

Micron Tech is a beast. 105% price growth, 82% earnings over the past year. Setting up to move higher.

At a good buy point, looking to breakout higher.

Western Refining has been in a long consolidation and looks to have broken out and poised to move higher.

3 Casinos Race to the Bottom

By April of this year the party was clearly over for these previous high flyers. Today they all seemed to fall through the thin ice of support at the same time. It will get a lot worse before it gets better. I'd stay far away.

Want to short? Look to short at a retest of prior support. Right now there are too many people running for the exits to go short, too much risk of a squeeze.