BGZ, TVIX, FOSL, SMG Among Charts to Watch

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It was a very ugly day on Wall Street on Monday, and the stocks didn’t do so well, except for the ultra-shorts, of course. So we’re going to review some of the Boxer Shorts, but also take a look at some of the popular ultra-shorts that we have been monitoring and trading just to give you an idea as to where they‘re at and what‘s going on with them.

Direxion Daily Large Cap Bear 3X Shares (BGZ) had a big pop, a 3-wave pull back, then balanced and retested, double bottomed, and exploded around 50, backed off to 39, went vertical to 56 – 57, and was up 4.39 to 50.67, or almost 10% on Monday, right up against the reaction high. There may be some resistance here, but if the indices continue lower on Tuesday, this stock could very well spike up to the short-term target set at 55 – 58 zone.

VelocityShares Daily 2x VIX ST ETN (TVIX) has gone from 15 1/2 – 16 up to over 100 at the top of the channel. It could be a little overbought in this zone, and it’s also in spike-up, blow-up zone. If it breaks through here it could blow up to the blow-up top around 125, but it could also back off at this point. Right now it could go either way depending on the market.

Fossil, Inc. (FOSL) ran up, double-topped, and is now rolling over hard. It came down 5.78 to 75.28, or 7%, on Monday, and with the low broken at the 90 level, it cascaded even lower. The target for this stock is in the 70 – 72 range.

The Scotts Miracle-Gro Co. (SMG) had a big snapback after the big spike down. It went all the way back up to the declining topsline, 50-day moving average, and lateral price resistance, came down and bounced, formed a wedge that was broken, snapped back sharply to test that, and then fell away again on Monday, down 54 cents to 29.87, or about 2%. It looks like it could go lower depending on the market, and retest the lows around 40, potentially.

Other stocks in our Charts for the Day are DIREXION DAILY EMRG MKTS BEAR 3X SHARES (EDZ), DIREXION DAILY ENERGY BEAR 3X SHARES (ERY), DIREXION DAILY FINANCIAL BEAR 3X SHARES (FAZ), PROSHARES ULTRASHORT FTSE CHINA 25 (FXP), PROSHARES ULTRASHORT DJ-UBS CRUDE OIL (SCO), PROSHARES ULTRASHORT BASIC MATERIALS (SMN), DIREXION DAILY SMALL CAP BEAR 3X SHARES (TZA), IPATH S&P 500 VIX SHORT-TERM FUTURES ETN (VXX), DIREXION DAILY CHINA BEAR 3X SHARES (YANG), INFORMATICA CORPORATION (INFA), WEIGHT WATCHERS INTERNATIONAL, INC. (WTW), FREEPORT-MCMORAN COPPER & GOLD INC. (FCX), DOMTAR CORPORATION (UFS).