Today's stock chart of the day GoPro. GPRO is a recent IPO that is riding an earnings catalyst after bottoming out in early March. It is now breaking out and stalling at the newly formed 200 day moving average resistance level. A break of this level could set the stock up for a run to... Continue Reading →
We have been swing trading the bottoming formation in commodities since December and now the formation has matured to the start of a possible trend move.GTLS is a good example of a commodity stock ready to start a momentum trend. It looks to have put in a bottom formation on strong volume and now is... Continue Reading →
Back in December we successfully identified and swing traded the bottoming formation in gold miners, followed by energy/oil/gas in early January. Often when one or two sectors show this formation, other related sectors will follow.Steel is showing signs that it is the next bottoming formation candidate. This sector does not have an ETF to trade, so... Continue Reading →
Every momentum stock starts from a bottom formation breakout. Back in November we started talking about Gold Miners as a potential bottom formation trade. Study this chart carefully and notice the positive volume as gold miners put in a bottom formation, the remount of the 50 dma and successful hold on pullback. If you would... Continue Reading →
Swing Traders must be vigilant about sector rotation and money flow. Back in early December we started talking about gold miners as a bottom play in the Trade Report. Notice that as gold miners were at lows, positive volume outweighed negative. This was a clear signal that "big money" players were accumulating positions in this... Continue Reading →
Trade Report focus list stock ZU broke out of a post moving average remount breakout range on strong volume. This stock has been showing signs of accumulation even before remounting the moving average. This underlying volume support should help propel the stock to recent highs around $42. I will look for a good entry on... Continue Reading →
SKF is slighly bouncing off support lows. Support could break, but the setup still offers a good risk ratio and a trade that is easily managed. Enter as close to support as possible, place stop below support lows, with a target near resistance levels.
I am offering today's Trade Report, which features my plan for Monday and the coming week, free to blog readers today. Enjoy!January 5, 2008Market NotesThe market is overbought. I'll get back to that, but first let's take a look at the overall picture. The market (via SPY-SSO) is putting in a healthy looking bottom pattern.... Continue Reading →
A nice bottom pattern is forming in financial stocks and the leveraged ETF UYG. Trade management is made easy with a stop placed below Friday's close and the target near the recent high. I may be tomorrow on weakness.
I bought 300 shares of TXI at $31.50, as my limit buy order was hit this morning. This is a manageable low risk trade in a good setup that offers strong price and volume support. The setup is both a bottoming and breakout-pullback setup.If the market tanks, my stop wil likely be hit for a... Continue Reading →