This morning's market weakness wasn't completely widespread and in fact, one of my favorite picks (actually my top longer term pick) showed excellent relative strength, up close to 5% in the first hour of trading. This was impressive enough to get the traditional Friday's Into The Close moved up one day, especially since I have to be out of the office today during the critical last 90 minutes of trading. SPCX - Buy Pending On Close > $150 Excerpt from today's Blue Line PRO Service update: "While the broad market is weakening, SPCX is doing exactly the opposite. "SPCX has been up close to 5% this morning, attacking the major declining trendline that has capped it since the prior highs. More importantly, the stock is showing relative strength on a distinctly weak market morning. SPCX 240 Minute "The chart is increasingly consistent with the 1–2–3 structure we've been following. A confirmed breakout above the red trendline would open the door to the next leg higher, with the chart's measured objective near $190. "We own the Oct $160 Call in the PRO portfolio and a close today above $150 will trigger the Premium Service entry into the SPCX Dec $170-$180 calls. Owning both expirations is a matter of conviction—and how strongly you believe SPCX could be knocking on the $200 door later this fall." End Excerpt. SPCX Buy Pending - Premium Service Buy one of the SPCX Dec. $170, $175 or $180 calls—not all three—on the first SPCX close above $150, or on any intraday trade above $155. SPCX Dec Expiration Calls This is exactly what we look for going Into The Close: unusual relative strength, a major technical breakout within reach and a clearly defined price level that tells us when to act. Must See: Ron Baron on SPCX
