Swing traders should always track open gaps when looking for good entry levels for a momentum stock. The old adage that all gaps eventually get filled may not be 100 percent accurate, but it does give the swing trader an edge.GPRO has been on fire of late. On Monday I noted to Trade Report member... Continue Reading →
Momentum stocks usually give ample warning before taking the inevitable fall. Is FUQI showing signs?
I went short 100 shares of MON at $120.76. Rather than analyze the trade setup as I have been doing, I'd like to take a look at MON's weekly chart. It's starting to look like a top might be forming.Take a look at the price action. For the fist time in two years, the trend... Continue Reading →
I am hearing a lot of bullish chatter amongst bloggers and media about the near future for gold. This seems to always happen when a former leader (momo stock) breaks down and prints a dead cat bounce. I love it when this happens.Let's ignore the talking heads and take a look at the chart. First,... Continue Reading →
GTLS is an earnings breakout play that has shown accumultion as it consolidates the breakout move. A key day was early last weak when it confirmed the hammer the stock printed at the breakout point. The RSI and OBV trends are positive and the volume pattern has favored up days. My target is the recent... Continue Reading →
I sold 200 shares of POT at $150.10 (entry at $138.14) for a $2392 gain (+8.6%).I sold the remaining 150 shares of CF at 118.34 (entry at $92.05) for a $3943 gain (+28.5%)I sold 150 shares of AAPL at $202.15 (entry at $179.80) for a $3352 gain (+12.2%).I sold 100 shares of RIG at $148.74... Continue Reading →
KR asked the following question about my BIDU trade:"BIDU was based on luck or trading secret? Other than oversold indication at Stochastic, I did not see any reason to jump in before seeing some more weakness. What was the reason to jump in Y'day for you?"Since I started this blog and documenting trades, I can't... Continue Reading →
I received a question for Tom that many of us have stuggled at some point in our trading careers:I think I have about 90% of the same stocks on my watchlist (and like you Ispend a TON of time on them), however, my challenge is always the entry/exit! What tips can you give on the... Continue Reading →