1. It's been a while since anyone asked for a read on International Business Machines (IBM), but the recent surge in volatility appears to have triggered an increase in the number of folks running toward Warren Buffett-blessed investments. Unfortunately, I don't see much to like in IBM's chart. At a minimum, I'd stay on the sidelines until the stock tests $130-$132. That area represents a major breakout zone dating back to Sept. 2010.
2. Another stock I've received several inquiries about is the Market Vectors Gold Miners ETF (GDX). A quick glance at the daily chart of GDX reveals an obvious bear trend. That said, I believe short-term traders capable of maintaining tight risk control could try buying the GDX near $13.5-$13.6, perhaps with a stop on close under $13. To be clear, this is a clear-cut example of rolling the dice at a potential bottom.
3. Traders continue to display a dash-for-trash attitude toward stocks, as I've received more notes and questions on coal, iron ore and sub-$10 energy stocks than at any time in the past five years. One such name several traders have inquired about is Cliffs Natural Resources (CLF). And believe it or not, the stock doesn't look half-bad if your timeframe is relatively short.
The higher timeframe trend is obviously bearish. But as long as the stock manages to hold above its 50-day simple moving average and 21-day exponential moving average -- both reference points currently sit near $3.35-$3.40 -- I think the stock has a shot at trading toward $5.50.
Any trading or volume profile related questions can be posted in the comments section below, emailed to me at email@example.com or posted to my twitter feed @ByrneRWS.