I took a short position today in SKX. The stock is extended and today's indecisive price movement on high volume leads me to believe a pullback is in order.
SKX Ready For Pullback
Short Setup: FUQI
I pointed to FUQI as a short when it was around $30. I took the trade, which would have been successful had I used a wider stop. It's now broke down below the 50 day moving average and is showing distribution in the volume pattern. I will short on a pullback to the moving average,... Continue Reading →
STEC Short Entry: Time to Take Profits?
Is it time to take profits in the STEC short? Entry was made back on September 24th at $30.75., so we are looking at a 15-20 percent gain.My general approach to exits is to set a target based on support/resistance levels and take a partial profit at that level. As you can see from the... Continue Reading →
Is FUQI Ready for a Fall?
Momentum stocks usually give ample warning before taking the inevitable fall. Is FUQI showing signs?
The X Short Trade
On Friday I pointed to the X short setup, if X was to pullback to the 50 day moving average. We got that yesterday. As noted to Trade Report members yesterday, I took the short entry, with a stop just above the moving average.This is a variation of the breakdown-pullback short setup.
Moving Average Breakdown in U.S. Steel (X)
X has broke down below the 50 day moving average and looks good for short entry on a pullback or weak bounce.
CPLA Short Setup
CPLA is showing a classic breakdown-pullback setup. The stock broke down below teh 50 day moving average with strong price bears, and now is in the midst of an orderly pullback to resistance.
My Current Postion: AAPL Short
Last week I posted about APPL showing signs of pulling back, but still being a tough read. As Report members know, I decided to short on the once it made a thrust to $170. Overbought conditions, distance from the 50 day moving average and a negative divergence in RSI made it a decent counter trend... Continue Reading →
Is DE (John Deere) a Short Setup?
A Trade Report member sent me an email about DE. Here is the e-mail and my response I think it is great time to short "DE"? RSI, OBV and MACD are all bearish...plus, the Durable good is bad..While the price pattern is not bearish, I agree in that RSI is showing a slight negative divergence... Continue Reading →
Broken Trendline: PALM
I like PALM as a short setup on a bounce. Would have liked to see more volume on the break, but still would offer good risk/reward.
