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 breakout. As a plus, all things... Continue Reading →

Breakouts with Strong Volume Trends

Friday's nightly breakout scan listed just over 100 stocks. An easy way to trim the fat and find good setups to trade is to sort breakouts by obv ranking. This will find breakout stocks with strong volume patterns. Here are Friday's top 25:

Today’s Entry: CSX, DZZ and MTL

I bought 100 shares of MTL at $143.46. The strong broke out over $140 yesterday on strong volume. It's one of the strongest stocks in a strong sector showing loads of accumulation. I may be a bit early on entry (I usually don't enter at overbought stochastic levels), as the stock could pullback to $140.... Continue Reading →

Homebuilders are Hard to Ignore

It's tough to ignore the strong move in residential construction, aka, homebuilders. While my head tells me to stay away, the charts tell me otherwise. For months I have been using bounces in the sector to reload shorts, but not this time. There is something different about this bounce. Take a look at the chart... Continue Reading →

The Best Indicator is . . .

Way back in November I asked readers to submit questions for a Q & A session. The response was much more than I anticipated, and even after setting time each week to answer questions, I still have not finished answering half of them. So, rather than answer them all in one post, I am going... Continue Reading →

Chart Request: CMI

In the comments of the last post, Raj asked:What do you think of CMI? It has pulled back well to previous support levels.CMI is pulling back towards a strong area of support after a nice breakout. Where you enter depends on your strategy. If you are a stickler for entering as close to support as... Continue Reading →

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