Category: oversold bounce setup
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3 Bounce Entries For SPY
While SPY is oversold, I would like to see more weakness before entering long based on oversold conditions. The chart below shows three great bounce entries:
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Charts: AMLN, BEAV, WYNN, BHP
I entered four positions today, 3 shorts and one long. My market bias has turned bearish with recent distribution (price down stong oh high volume) on SPY. WYNN is showing signs of topping, though it is stronger than the market. Recent volatility and stronger volume to the down side make…
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Today’s Trade: PCU
I entered PCU as an oversold bounce play as it falls to support.
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Oversold Bounce Setup: GLD
My recent GLD entry was based on the oversold bounce setup. I only took a 1/3 position today, and will add to it if GLD nears the 50 day moving average, which would offer me a better risk ratio.
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GS Nearing Bounce Level
GS is oversold and nearing a strong area of support. If the stock drops a few more points today, an oversold bounce entry would provide a low risk trade.
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Today’s Entry: JEC
I went long JEC today as an oversold bounce setup. Stop is fairly tight.
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Trade: SDS
I entered SDS today. It is extremely oversold and RSI shows a positive divergence. The last 3 similar states have lead to decent, tradeable bounces.
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Anatomy of a Successful SPY Trade – Moving Average Oversold Bounce Setup
This setup was given to Trade Report subscribers. SPY was marked as a “bounce trade” setup on Friday as it neared the 50 day moving average and became short term oversold using stochastics as the oversold indicator. I entered Monday morning on confirmation. The stop was set under the 50…
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Game Plan and Free Trade Report
Here is my game plan for the rest of the week and free trade report. Watch for the key SPY support levels. A continuation of the down move would setup some nice “oversold bounce” trades. http://docs.google.com/Doc?id=d5z8q8w_1296ffhsmdfn September 2, 2009 Note: I will not have access to a computer Thursday and…
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Speculative Entry: SRS
I took a small positions in SRS today. It is very oversold (meaning real estate is overbought) and, if history is a guide, should bounce soon. I am using a tight stop with a target near the moving average.
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Charts: BRE and PALM
I entered two trades today. PALM is a trend pullback setup and BRE is oversold bounce.
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Trade: FWLT
As noted in the alert to subscribers yesterday, I entered FWLT at $19.03. The stock is extremely oversold and due for a snapback.
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MON Oversold Trade
Chart shows extreme oversold conditions. Entry as close to $70 support line as possible. Tight stop.
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Today’s Trades: FCX and MON
I made two speculative trades today, short FCX and long MON. MON is oversold, but still a few points from support. The higher probability setup is to enter long at $70, which I will do if I get stopped out of this trade. FCX shows a bearish pattern, but has…
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Trade: SDS
I entered 400 shares of SDS today when my buy limit order was hit at $88.15. I don’t do this often, but I am using two different stops for this trade. Half the position has a stop just above $78, while the other half is above the 50 day moving…
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Today’s Trades: CBI and PNRA
CBI: 200 shares at $11.00 This stock, as with most of my trades, was mentioned in the Trade Report last night. It’s holding above both the well formed trading range and the 50 day moving average, providing a low risk, easily managed traded. Stochastics are oversold and turning up. Risk:…
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Trade Setup: USO
As noted yesterday, I entered USO at $28.32. Setup: Oversold bounce, possible bottom formation. Stochastics are extremely oversold, which has provided for quick counter trend trades with this stock. Risk: My stop is under price support around $26.50, with the 50 day moving average providing the initial target at $33.50.…
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Today’s Trade: SSO
I took a small position in SSO today based on the “oversold bounce” or “rubber band” setup. My stop is just below the support line and I will be quick to take any available profits. Update: I am having trouble with chart annotations and will post chart later today.
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Trade: FAS
I went long 200 shares of FAS at $17.63. This is an “oversold bounce setup. This is a low risk trade with a stop just under the support line on the chart. My target is in the $23-25 range. This provides a 3:1 reward to risk ratio.
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Today’s Trade: DUG
As noted to Trade Report subscribers earlier today, I entered DUG at $21.19. The inverse oil services ETF is near strong price support and is very oversold (oil is overbought). I am using this trade to short the oil sector. Setup: Oversold bounce. Stockchastics are way oversold. The last 6…
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Buying and Sellng Extremes: The SKF Trade
My strategy over the past few months has been to be patient and wait for extreme conditions to surface before making both long and short entries. A good example of this type of trade is the SKF position I entered yesterday (detailed in the trade report). Here are my entry…
Paul J Singh 