HSY SPY 

This is Scott with your Chart of the Day. It’s been a crazy week in the market, that’s for sure. But this chart right here from Hershey ( NYSE: HSY ) has held up pretty well considering the S&P 500 ( NYSEARCA: SPY ) had a MAJOR move down and a MAJOR move up.

Hershey ( NYSE: HSY ) just kind of hung around the 8 and the 21-day exponential period moving averages. As you can see here I have drawn this downward sloping trendline, we have a clear level of resistance here. Today was a nice up day with the rest of the market and a nice pickup in volume.

What I want to see from Hershey ( NYSE: HSY ) is some chocolate, but also a move through this downward sloping trendline coming on higher than average volume. Now, I would say today was probably a good starter position day but I don’t think you are late on this. I think you really want to wait for this stock to move out of this consolidative base.

Now, it is kind of a high base, if I zoom out here you can see it has had a really nice run off of the December low, it has gone up about 30 percent. This could still consolidate for a while, maybe have the 50-day moving average catch up.

But for a short-term trade you might be able to catch a move out of the base and a retest of the highs, from this level here to there, that’s about 2 percent or 4 points. That’s not a bad move for a crumby market. That’s what I will be watching for here on Hershey ( NYSE: HSY ). I will be setting an alert right around that 227.60 level here on my charting platform.

WEAT 

Dan Fitzpatrick here, stockmarketmentor.com. Teucrium Wheat Fund ( NYSEARCA: WEAT ), an ETF, basically. It has traded over 9 million shares today, yesterday it had a big move. And by the way, we still have a little over an hour to go in the day. And so, judging by the way this is trading we will probably get close to the same volume as yesterday. But you will notice here, that this is a 5-minute chart, this tends to trade in these big blocks. The biggest blocks are virtually all buying blocks, all of these down here.

This is a stock that is under accumulation. I had first seen it yesterday, I think I saw something on IBD on it, something like that. It wasn’t my original idea I just saw it, it helps to have your head on a swivel, looking around. This was a really nice volatility pop and I decided that if it goes to a new high today, 11.34 was yesterday so if it goes to a new high today or tomorrow or whenever, that’s when I will buy the stock.

So it popped up today, that’s when I bought the stock. So I am giving it to you, it’s not up that much more. But the way this stock is trading I don’t really see any reason why it can’t move up to there. It was there before on a big spike, see this big squeeze here, this is even a tighter squeeze than this was back here. So this could turn out to be one big long consolidation base before the stock moves even higher.

I like this, what I would suggest doing is, that you have got to manage your risk, so the way this is trading I would give it enough room, frankly, to even move below the 50-day moving average. If you are really skittish, of course, you can keep a tighter stop, but the tighter you keep your stop, the more likely you will get stopped out.