Trading Week 10/30/16

USDJPY and GBPJPY climbed through our alert as expected, however traders seem wary to create big positions at these price levels, this points towards a strong move coming soon. Our GENE stock pick continued to drop and we recommend averaging down here at 1.30 with a very tight stop, and recommend no more trades if price further declines past 1.00.

WFD (Westfield Financial) is looking stronger as volume increases at a steady rate, we see this as a solid longer term swing trade option.

Forex Play

LONG USDJPY at 104.4

Technically strong buy indication and further continuation.

Stock Picks This Week

CVRS (Corindus Vascular Robotics) We've identified another high value biotech here, CVRS which was beaten down last week on great trial news, we see this as a large long term institutional holder exiting their position for no significant reason. This would be a perfect time to establish a position depending on sentiment throughout the coming week. 

CVRS appears extremely strong right now with little debt and enough liquid assets to settle all debts and then some. This coupled with strong pipeline news and continued careful management points towards a really strong end of 2016 run and positive movement throughout 2017 for CVRS. 

Buy recommendation under $1.00


Cryptocurrencies

Bitcoin breaks out cruising up to $710! Congratulations on all cryptocurrency investors.

We see further action here as high price drives visibility to the industry.

XRP and XMR looking strong as well. We recommend keeping an eye on DGB as price has declined to very attractive levels.