I bought 500 shares of TRA at $53.12.Setup: A combo platter of a breakout and trend-pullback and entering within a forming high and tight flag. I expect a continuation of the trend. Great volume pattern and RSI and stochastics confirm price highs. The stock is under accumulated here.Risk: My intial target is the recent high... Continue Reading →
I still like MTL here. The stock has not broke support and down volume has been lighter than previous up volume. The 50 day moving average has been a good entry point.
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 to?I'm listening to the latter.... Continue Reading →
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 concern is there doesn't look... Continue Reading →
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:
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 stocks that pulled back on... Continue Reading →
I bought 500 shares of RIMM at $82.71. This is a short term trend-pullback play. My intitial target is the high at $85, with a stop at $81.I covered the RS short, 500 shares at $54.05 (entry at $53.16) for a $445 loss (-1.6%). I am still holding GMRC, SDS and LFC.
I bought 500 shares of FLR at $120.20. The stock has been on my primary watchlist since the July breakout and has been a great trend pullback trade. I recently set an entry of $117-120, and the stocked dipped down to $119 yesterday. However, I decided to take a wait an see approach because of... Continue Reading →
I bought 300 shares of NOV at $114.35. Buying this stock on pullbacks has become a go to move for me, like Allen Iverson's crossover. This is one of those "keep doing it until it ceases to work" trades, akin to feeding a hot three point shooter. Okay, that's it with the NBA references .... Continue Reading →