SPY seems to be holding support at the 10 DSMA, at least for now. The same goes for DIA though it looks just a little healthier. IWM is still above the 50DSMA but now below the 10 and 20 so it may become range bound, only time will tell. Gold looks like it will potentially crack and oil is on the upswing though still mid-range.

You can search for me on Twitter @freethinkingmen for regular updates if you like.

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OWCP OTC- $11.51M last traded, rel vol 2, Israeli Weed Biotech, 130M float, PM PR news yesterday that weed research remains strong despite Fed’s hesitation on recreational use. A break of 1.50 could lead to $2 provided the intraday resistance of 1.70 doesn’t hold it up. Volume has not been biased on the bullish side. Today has created an ascending triangle but volume seems to favor the short side. I think the safest play here would be to wait for a pull back if the break does occur and decide on entering there. CNBX seems to have found support and bounced today as well. The 15m 50SMA is also at 1.52ish so there should be added resistance but a break could be even stronger. This stock seems to run up in the mornings, it may be a better overnight play depending on the close. Saw a tweet that leads me to believe Sykes is in this stock, potentially dip bought at 1.40ish; also interesting that Sykes tweeted the article about him vs Wolf of Weed street this morning. Big 66K seller at 1.52 from NITE and keeps getting hidden when price drops. Getting some 10k block buyers at the 1.50 level. 23K seller at 1.50 from ETRF. Another 25k seller at 1.50 from NITE for a total of about 50k at that level. 15k Dip buy at 1.38. This seems to continue correlating with CNBX, I’m not sure which one is leading the dance. 43K buyer at 1.40 followed by 13k  same price and another 36k  for 93k+. 20k seller at 1.38 followed right after. 41k buyer at 1.39, all of these happening within minutes of each other.  Another 39.5k and 42.6k buyer at 1.39, looks like it may have been a seller selling into big L2 bids, immediately followed by another 37.9k buy same price. 44k L2 ask at 1.44 from NITE. Two buys at 1.44 of 21k and 35k. 10k seller into a 19k bid at 1.45. Sell or Buy at 1.41 of 29k after period of stagnation. In the beginning of powerhour we had a 16k and 27k seller at 1.40 trying to push this down. 10k buyers at 1.46 and 1.47 followed by a 25k sell at 1.43, Price is still growing. Took a long position when previous big asks were not apparent on L2 and bullish volume started flowing in at 1.50. 63k seller at 1.57 from NITE appeared 20m before the close, 10k and 18k bids taken out at 1.56. Buyers are still showing up, this looks good for an overnight hold although I will most likely sell half or all if this hits 1.70 before the close. 29k seller at 1.52 when price is 1.55, clearly a short is trying to force this down but price is still holding support. Another 26k seller at 1.51 finally got price to hit 1.49, buyers still filling in. 30k buyer/seller at 1.51 as price struggles to recover. Another 15k buy/sell at 1.51 which got price to move up a couple cents 10m before the close. 28k sell followed by 20k more at 1.51 and a 10k ask at 1.55 still not taken out. A 30k sell at 1.51 came in when price is 1.55, buyers keep bringing the price right back up. A couple 15k buys at 1.55 6min before close. This closed really well and my only mistake was buying the first break as opposed to buying the pull back as stated in my plan; my price was maybe only .02 higher than it could have been so I am grateful for not getting punished harshly.

ALQA- $1.4M last traded, rel vol 5.76, Drug Man, 24.38M float, 1.39% short @ ratio 1.14, IO 17.76%, earnings due AH today with a call hosted at 5pm. They are scheduled to present to investors on the 8^th at 9:20am. On the 28^th they announced a private placement priced at .50 that looks like it was bought by insiders as well as an announcement that their acquisition merger agreement fell through due to lack of financing. If I am out of my OWCP position I would consider a long over .86 for the test of $1 but I would prefer to see some strong supporting volume.