Ronald wants to know if I consider the 3.7% drop in CNX, a stock I highlighted earlier in the week, a buyable pullback. While I would not buy just yet, the stock is still technically sound. Support has not broke and volume on today's decline was within the stocks normal range. OBV still looks good.... Continue Reading →
Here are some momo names that should be front and center of your wachlist. I am looking for tradeable entries in:MTL, POT, HDB, LTRE, RICK, CTRP, DE, CPLA, FSLR, VIP, LDK, MCRS, HMSY, MON, MOS, ISRG, AGU, BIDU, MA, GLDN, RIG, MBT, ATW CF. Note the abundance of ag related stocks.
One of my favorite buy the dip plays, EWZ (Brazilian ETF), has pulled back to the 50 day moving average. There are two ways I am looking to enter this stock. I'm going to make a very small buy now, right around the support area, with a stop around $59-60. The next buy point is... Continue Reading →
I bought 500 shares of RIO at $44.65. This is a simple "trend pullback" trade. The stock has been on a steady trend that has bounced off of every pullback to the 50 day moving average. I am a bit concerned about the heavy volume on this pullback, so I will use a tight stop... Continue Reading →
Like many, I am kicking myself for not entering AMZN yesterday. On Thursday, I featured it as a breakout-pullback candidate. When I made my trades yesterday, I came very close to taking a 500 share position at around $44.40, but decided against it for two reasons. First, I had made my buy entry closer to... Continue Reading →
FPIC broke out of a three month triangle formation. Volume and the OBV indicator (a measure of volume at the close) show increased accumulation during the formation of the triangle, suggesting this breakout is for real and any pullback will be met with more buying. I will enter on a low volume pullback to $46.Other... Continue Reading →
Before posting my review of the HOC trade, I'd like to answer a question posed to me after the latest "today's trades" post. The question:You seem to hold on to positions for only a few days even though it may seem as though the position could move higher. why is that?The person who asked this... Continue Reading →
I stumbled across this article on patience and trading via Trader Mike's links. Although it may seem like basic stuff, it speaks about an issue that has been one of the toughest for me to master. The basic message is you must be patient with your entry points and give your positions time to work... Continue Reading →