Category: buying support
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How to Trade During Market Selloffs and the Power of Support
The one key element for traders looking to “buy the dip” is support. Support levels are powerful because this is the level where we see buying interest due to previous buying, trend lines or moving averages. Even during market selloffs where the drop seems to have no floor, support can…
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Key SPY Support Level
SPY is nearing converging support levels and oversold stochastic levels. A low risk opportunity may present itself near the 50 day moving average. Take note that the volume pattern is showing distribution.
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SPY Chart Analysis
I posted the SPY chart that I sent to subscribers last night without any annotations and a few blog readers weren’t quite sure what the chart meant. The key is the two line drawn and support and resistance. If SPY gets close to the top line (around $93-95), that sets…
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2 Low Risk Real Estate Short Entries
If looking to get short on the current or future bounce, SRS offers two low risk and easily managed entries. The leveraged real estate ETF is currently right at moving average support. An entry here with a tight stop under the moving average provides low risk If the top is…
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GLD Entry and Trade Report
In the Monday morning edition of the Trade Report, I mentioned that I was bullish on the gold sector and was waiting for a pullback. A few readers wanted to know at what levels I would consider entering. Let’s take a look at the GLD chart. When looking for support…
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The Power of Strong Support
I outlined my entry in APA on Friday. Today the stock is up over 3 points on a negative day for the market (as of noon eastern time). This is a good example of the power of strong support.
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Today’s Trade: EWZ
I bought 200 shares of EWZ, the Brazil ETF, at $91.61. Setup: Bullish Flag post Breakout-Breakout Pullback. The stock pulled back to the top of the breakout level, which is also where it broke resistance. Recent volume pattern is strong and obv has increased as stock has pulled back from…
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6 Stock to Buy on a Dip
The market is now in extremely overbought territory, which is why I actually deployed a short today (DHI- a housing stock at the top of it’s downward trend channel). It’s seems like ages since I’ve shorted a stock, and believe it or not, I love shorting! Along with my primary…
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Trades: AAPL and NOV
I sold 150 shares of AAPL at $125.84 (entry at $121.75) for a $613.50 gain (+3.3%). I noted the exit in the comments section of my last post. At the close, I sold 200 shares of NOV at $116.11 (entry at $109.64) for a $1294 gain (+6.0%). Both trades were…
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Trades: MS, AAPL, NOV and CROX
I covered my entire 800 share MS short, half yesterday at $63.05 and half today at my target, $60.10 (average entry price was $65.89). That comes out to a $3455 gain (+6.4%). I have not unloaded CROX yet, despite currenly being about 5 points down (-$2000). I’ve decided to use…
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ZUMZ Bullish Englulfing Pattern, Steel, Energy and the UFC
I entered ZUMZ yesterday on a pullback to support, and today it looks as though we have confirmation that the stock is going to bounce. ZUMZ printed a bullish engulfing pattern where three areas of support converged (the 50 day moving average, price and gap support). I could not have…
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Anatomy of a Possible Breakout Chart: EWZ
Based on the annotations to this chart of EWZ, I would be a buyer on a high volume break of $50, or a low volume pullback to $$47. The key to this chart is not only the support and resistance levels, but the pickup in volume. This indicates institutional interest.…
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Chart: HAL
HAL (Halliburton Co.) wiped out a month’s worth of gains on an insane amount of volume. However, it did not knock out any major resistance points and handles the 50 day MA quite well. Take a look at the tail the stock printed as the stock briefly dipped below the…
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Bullish Chart: JOSB
While my post after the market close reaffirmed my bearish stance, I am finding more and more solid long setups. The health care sector is smokin’, with stocks like HRT and ROCM leading the way. In this market environment, the only longs I’m willing to trade are stocks with high…
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Today’s Trades: EWZ and QID
I sold 700 shares of EWZ at $49.74 (entry at $48.44) for a $910 gain (+2.7%). I originally entered this trade as more of a long term swing trade. However, I didn’t trust the gap up this morning, since it wasn’t on tremendous volume. If I can enter again at…
Paul J Singh 