Last night I included my first video in the Trade Report. I'm still working on the video quality, but it will still give you a good idea of my game plan for the coming days.http://video.google.com/googleplayer.swf?docid=
I'd suggest most traders continue to stay on the sidelines. If trading, my preference right now is short term long plays. Homebuilders and airlines look good, but only on pullbacks.
I know a few people who are using this morning's bounce to deploy more energy shorts. However, I'm going to wait for a few more points to add to my existing short positions. While I agree we may get a quick drop here, risk/reward is not great until we get entries closer to the top... Continue Reading →
I bought 400 shares of VISN at $18.38.This stock was highlighted in today's trade report, with a buypoint in the $18-19 range.The Setup: Breakout pullback . Volume pattern is solid. Stock is pulling back from recent highs and seems to be showing strength at moving average support. The pullback has been somewhat volatile. However, strong... Continue Reading →
Don't tell RBN that the market has been in a downtrend. Beautiful earnings breakout play. I entered today with a small position and will likely enter again on a pullback to the breakout point ($45-46).
As noted in comments, I made a few trades.I covered 100 shares of POT at $194.36 (short entry at $208.77) for a $1441 gain (+6.8%). The stock was 4 points from my target, but today's drop was too good to sit back. I may enter again on a bounce.I exited 400 shares of DZZ at... Continue Reading →