I went short AAPL today. Overbought and lots of space between price and moving average.
AAPL: Speculative Short Trade
Today’s Trade: PCU
I entered PCU as an oversold bounce play as it falls to support.
Trade Entry: ACI (short)
I am short ACI at $28.05 based on the extreme overbought readings in stochastic, along with extended price action. This coal setup was featured in the Trade Report last night, for short on strength at the open.
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.
FCX and PCU: Great Long and Short Setups
PCU and FCX are on fire. Technically, they look great on a pullback to support for long entry. However, they are very extended. Take a look at the distance from the 50 day moving average. I think we are due for a snap back. I will likely short on more strength.
Low Risk AMZN Short
AMZN has been a great "extremes" trade (stochastics 90+ and extended price) for the past few months, both as a long and short. The stock is again extended, and offers a low risk short opportunity. Entry here with a tight stop offers a favorable a reward to risk ratio. Allow only for a small loss... Continue Reading →
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_1296ffhsmdfnSeptember 2, 2009Note: I will not have access to a computer Thursday and Friday while on vacation, so there will be... Continue Reading →
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.
Monday Game Plan and Free Trade Report
Here is the strategy I laid out for subscribers to start the week:http://docs.google.com/View?id=d5z8q8w_1205gxt3rxp3 The market is in a very bullish made right now. As we can see on the SPY chart, RSI confirms the recent breakout over resistance, as it makes new highs along with the index. The volume patterns shows there's some real velocity... Continue Reading →
Exiting Short Positions
Here is an alert I sent subscribers this morning:I was stopped out of the SPY short (via SDS) for a small loss. Also exited most shorts. I am NOT taking on any short positions. This is not an orderly pullback. Instead, SPY is showing a strong breakout bar. We'll see if it holds, as conditions... Continue Reading →
