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Setup: Breakdown-Pullback off Trend Failure
CALM broke down from a parabolic uptrend. I’d like to enter short on a weak bounce.
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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.
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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…
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The Obvious Line
The chart below shows the obvious breakout-breakdown level. A break below that level would mark a failed breakout. See my last post on current strategy.
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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…
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Buy the Dip: SBUX
Starbucks had a great earnings reaction today and broke out over resistance. While the stock is too overextended to enter now, I will stalk this chart and likely enter on a pullback to the bottom of the breakout bar. Remember for all breakout-pullback trades, the pullback must be orderly and…
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3 Week Free Trial to the Trade Report
I am offering a 3 week free trial to my nightly Trade Report. The Trade Report features my current market outlook, updates on my own trades and my focus list which tracks the stocks I am looking to trade the next day. It is the journal I prepare for myself…
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Bearish Engulfing Pattern Forming in X
A bearish engulfing pattern is forming in X right near resistance. This trade is easily managed by shorting the next intra day bounce, placing a stop above today’s high with a target near the 50 day moving average.
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Today’s Trade: SDS
I am shorting SPY using inverse ETF SDS. SPY has reached resistance and is very overbought. This is a recipe for a pullback, as it is very hard to make meaningful advances after a big run up and extreme overbought conditions. The trade is low risk and offers a decent…
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The Short Apple Setup
AAPL is showing a negative divergence and is extremely extended at new highs. I am short with a tight stop.
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OT: My All-Time Baseball Team
A few buddies and I were debating our “all-time” baseball team. This is going back to when we started watching (early 80s). Nobody we haven’t gown up with is allowed: C: Joe Mauer1B: Albert Pujols2B: Joe MorganSS: Alex Rodriguez3B: Mike SchmidtRF: Ichiro Suzuki (torn betwen him, Reggie Jackson, Vlad and…
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Too Extended to Enter Longs
While them market is too extended for my to add to my long positions (report members know that I was long before the move using the oversold bounce strategy), there are some low risk short setups among inverse ETFs.
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Head and Shoulders Pattern is Still Intact
As long as the head and shoulders pattern holds, I remain ready to initiate shorts on a bounce.
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Charts: BRE and PALM
I entered two trades today. PALM is a trend pullback setup and BRE is oversold bounce.
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Trade: FWLT
As noted in the alert to subscribers yesterday, I entered FWLT at $19.03. The stock is extremely oversold and due for a snapback.
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Quick Hit Game Plan
1. SPY has decent long entry here at support. Tight stop. 2. Short SPY and watchlist stocks on bounce. 3. Many watchlist short setups can be entered long as snapback trades if we get major weakness in the coming days. 4. Tech looks bad. Short Qs on stength.
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Monday’s Free Trade Report
Here is the report I sent to subscribers to start the trading week. http://docs.google.com/View?id=d5z8q8w_1145dtxkzjcp A lot more longs than shorts, which is a clue for the overall market.
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MON Oversold Trade
Chart shows extreme oversold conditions. Entry as close to $70 support line as possible. Tight stop.
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The Answer is Negative Divergence!
Yesterday I posted a chart of GS and asked what the chart tells us. GS is showing a clear negative divergence right at resistance. This signals a pullback at resistance, or if the R level does break, a pattern failure post breakout. Short entry can be made under R, or…
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Paul J Singh 