Category: trend pullback setup
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USO
USO is starting to look interesting as a buy, but not at the current level. I have set my buypoint in the $95-96 range. The 50 day moving average should provide support for at least a bounce, and possibly a continuation of the upmove. The buy is contingent on volume…
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Today’s Entry: APA
I bought 100 shares of APA at $133.34. Setup: Trend Pullback. The stock has pulled back to the 50 day moving average, where it found support the last two times it reached this level. Stochastics are oversold and OBV remains stong. Risk: My intial target is the recent high at…
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Trade: MTL
I bought 200 shares of MTL at $147.85. Setup: Trend Pullback. The stock pulled back to the 50 day moving average and seems to have confirmed that it will hold. I like the volume pattern and obv looks strong. Risk: My initial target is the old high around $160. I…
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Trade: ANR
I bought 300 shares of ANR at $50.05 based on the trend pullback setup. I had placed a buy stop this morning for the following reasons: 1. The stock has been in a sustained uptrend2. On Friday it bounced at a major support level3. Stochastics crossed over at near oversold…
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What to do about steel and energy stocks
Those that have missed out on the steel and energy run are in a frustrating position. There is the fear of being left out as the stocks continue to run. However, there is also the fear of “chasing” an overbought stock that’s ready for reversal. Which “fear” should you listen…
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DBA Analysis Revisited
On February 26th, I noted my skepticism about the ag sector. At the time ag ETF DBA was trading at $43. As of this posting, it is at $39.50. I received many e-mails disagreeing with my analysis. This post is not to boast, but to point out how important it…
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Agriculture: Now What?
Well, it seems the whole world knows about the ag sector. For me, that means it’s time to get the *blank* out. If you take a look at the chart of DBA, an agriculture ETF, it is hitting a level where it typically pulls back from. While there are more…
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Can We Buy CNX’s Pullback?
Ronald wants to know if I consider the 3.7% drop in CNX, a stock I highlighted earlier in the week, a buyable pullback. While I would not buy just yet, the stock is still technically sound. Support has not broke and volume on today’s decline was within the stocks normal…
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5 Bullish Chart Setups
I rarely trade 100 percent long or short, even if trading within the confines of a wildly bullish or bearish market. While my market bias is bearish, there are still some bullish stocks to trade. Here are a few nice looking setups, though few are perfect. BMRNThe stock broke out…
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MA’s Bullish Pullback
Mastercard, MA, has pulled back to the breakout point and shows a solid accumulation pattern post breakout. It is a bit concerning that the stock pulled back so quickly, but it did come on lower volume and is holding support. Concerns aside, the stock does offer a well defined reward…
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5 Profitable Energy Charts
Here are 5 interesting energy stocks. I’ve included longer term charts. Each has a slightly different pattern and can be played in multiple ways. RIG (Transocean, Inc.) is looking good right now. We’ve got a support converging at both the breakout point and the 50 day moving average. My only…
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Mon Posts Earning Surprise (and BIDU Trade)
What a freakin’ relief. MON posted monster earnings this morning, and the future of this ag company looks bright. I bought 400 shares yesterday at $110.22 and the stock is currently trading above $119. I sold half my position at $119.10 for a $1776 gain (+8.0%). I am going to…
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Today’s Trade: FLR, VMX, MICC, DRYS, CTRP, FWLT
I sold 300 shares of VMX at $124.25 (entry at $111.24) for a $3879 gain (+11.6%). A post earnings IPO play that has done as expected. I sold 300 shares of MICC at $111.13 (entry at $100.63) for a $3150 gain (+10.4%). This was another post earnings breakout play that…
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Today’s Trades: SGR, OII, BHP, JASO, EDU
I am using today’s dip to buy stocks from strong sectors nearing support. I made the following trades: 300 shares of SGR at $68.00. This is an infrastructure and post earnings suprise play. 300 shares of OII at $78.50. I’ve been waiting for this energy stocks to pullback near 20…
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Chart: OII
Oceaneering Internat (OII) has consistently been a buy on pullbacks to the 20 day moving average. This is a “keep it simple, stupid” trade, which is why I did not add any indicators to this chart. Why complicate maters? I will likely enter on a low volume pullback to the…
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Today’s Trade: NILE
I bought 300 shares of NILE at $96.55. The stock has pulled back to the old high on light volume. My stop is at $94.55 with an upside target of $103. If I get stopped out due to a deeper correction in the stock, I would probably re-enter in the…
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Today’s Trade: AEM
I bought 300 shares of AEM at $46.85. I’ve been waiting for a pullback to support in gold and it looks like we’ve finally got one. Stochastics have reached extremely oversold levels and obv has dipped to a support level on low volume. There are a few reasons to be…
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Today’s Trade (FWLT), Market Notes and Off-Topic
I bought 100 shares of FWLT at $129.26. This is a small feeler position and I will buy more on a pullback into the $125-126 range. To the upside, I will buy more on a break of $135. Note that this is a position trade with a longer time frame…
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Six Stocks to Buy on the Dip
Of the 100 stocks on my focus list, I’ve identified 40 that I like as buy the dip plays. Here are six of them:
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Gotta Love the Dip
Today’s dip was exactly the type of day a pullback trader loves. It’s been tough the past few days having to chase stocks. We needed a light volume pullback, and that’s exactly what we got. It’s a good time to start thinking about entering some small probing positions on momentum…
Paul J Singh 