Paul J Singh

Trades, Volume Spread Analysis, NVDA and STP

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Paul J Singh

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Yesterday I went short 600 shares STP (Suntech Power Holdings Co.) at $25.77. The bearish engulfing pattern worked out great, so I sold 300 shares at $24.75 for a $300 gain (+4.1%). I’m still short 300 shares, although the stock is showing a little strength this morning.

According to Volume Spread Analysis, a long bullish looking bar bumping into resistance on abnormally high volume is a good shorting opportunity. This chart of NVDA (NVIDIA Corp.) is a perfect setup. I went short 300 shares and have a stop placed just above resistance.

8 responses to “Trades, Volume Spread Analysis, NVDA and STP”

  1. walter Avatar
    walter

    BA pulled the same thing…Good job with the charts!

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  2. walter Avatar
    walter

    I think MON is setting up to be a great short – topping red flags there…I’m curious to know your thoughts…Thanks!

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  3. walter Avatar
    walter

    same goes for BAM and COF

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  4. walter Avatar
    walter

    WMT pulled one also

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  5. walter Avatar
    walter

    bullish or bearish HARAMI on SNDK?

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  6. The Market Speculator Avatar
    The Market Speculator

    The only stock that you mentioned that’s on my current watchlist is SNDK. I can’t take a bullish or bearish position until it crosses a significant S/R. If it breaks the 200 day MA and pushes past 60, I’d be bullish. If it falters at these levels, I think it’s in for a nose dive and I’ll be ready to short.I also pay attention to BA and WMT, but don’t trade them.

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  7. The Market Speculator Avatar
    The Market Speculator

    Walter,You asked about the “harami”. While I am a proponent of candlesticks, I think they are best used at important points (S/R, MA, etc). The formation you pointed to is in “mo man’s land”, so it’s not as relevant for *my* purposes. Others, like yourself, may have a great strategy that works at other levels, but I don’t.Best!

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  8. walter Avatar
    walter

    regarding candlesticks, i have read that… i am relatively new to them and am excited about that because i think that you can read a lot from the price/volume mechanics of a stock on daily basis… that being said, i was using those open/close bars before but now use candles…otherwise, i prefer trenline analysis (aka Tim Knight) and will turn to indicators, when close to support/resistance, TLs, etcthanks

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