I'm finally ready to enter long. The market is very oversold with stochastics dipping under 10. I just entered SPY, AAPL, NFLX and AMZN. I will use tight stops and manage risk closely.
I entered NFLX today at $186.11. Here is what I wrote to trade report members:My watchlist is rather small right now and there aren't any good entries, so I'm going to take this opportunity to analyze a focus list stock that is not an easy sell as a long or short right now, NFLX.NFLX has... Continue Reading →
Here are charts of the trades I made today. Note that I consider the shorts are early "speculative" trades until there is a confirmation candle.SPY (short)--hitting the bottom of the $118-120 resistance range. Stochastic overbought at 89. Will add more close to $120.RIMM (long)--breaking ot of triangle after remounting 50 day moving average.Gold (short via... Continue Reading →
I went short AAPL prior to the trendline break at $292 (see Trade Report). Looking to take profits in the $180-185 range:
I entered GS today. Nice triangle pattern formed post trend breakout. Nice volume within triangle as well.
I entered NFLX and ADM today.NFLX has pulled back to the 20 day ma, oversold, and is trending nicely. Could be a pivot level, though the risk is pullback continues to the 50 day ma.
I entered VMW yesterday on a breakout-pullback setup. Note that stochastics are now oversold and price has moved back to the bottom of the breakout bar on declining volume.
I entered BA today post breakout from a triangle pattern. The stock seems to be forming a Tight Flag post breakout.I am also short IOC, SPY and RL
I entered STP today on weakness. The stock has shown strong strength in relation to the market, and shows a strong volulme pattern on the recent move up. My target is the September high.
MSTR has formed a classic breakout-pullback setup. The stock recently broke out on huge volume, and since has consolidated in an orderly fashion. I entered this trade around $84, which I posted in the Trade Report last week. My intitial target is $90, where I would take a partial profit. At that point I would... Continue Reading →