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Stalking U.S. Steel
I am currently stalking X (US Steel), waiting for some low volume strength to get short. I’d like to enter as close to the 200 day MA as possible.
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Trade Update: QLD and MOS
I went short 400 shares of MOS at $109.11. I highlighted this stock in the blog last night as one of my favorite commidity related shorts. See my last post for the setup. My stop is around $115 with my initial target at $95. This is where I would take…
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It’s Time To Short Commodities
Over the past week I have been watching for the commodity bounce to reach resistance and begin to fade. We are nearing that point in many commodity stocks. I will likely stay away from energy, as I do see more room to the upside for oil. This could boost energy…
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AAPL
While I am by no means bullish on AAPL, a break of $180 would provide a clue as to the stock’s short term price movement.
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Quick Trade Update
I bought VLO on weakness this morning. The stock has been showing strong accumulation during the bottom consolidation area, along with positive divergences in indicators. I also took partial profits in my energy plays (USO and DIG). More details later. Here is the VLO chart from last night’s trade report:
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Playing the Breakout Trading Range: IPHS
IPHS broke out in early August and is now developing a trading range between the breakout highs and lows. This has created a low risk set up. I would like to buy on a pullback to the $33-35 range with a target of $40 and a stop around $31-32. Overall,…
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Trade Review: UTHR
As noted in my the setup post for the UTHR trade, I had placed my stop below the August 14th confirmation candle. I was stopped out today for a small loss. I highlight this trade because, frankly, it was not one of my better entries. Take a look at the…
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SPY Trade Analysis
Last Monday (August 12th) I took a small SPY short position based on a “failed breakout” scenario, above $131 (I actually used SDS–the inverse ETF). It’s now trading at $126.69. Below is what I wrote to my trade report members. It explains not only the setup, but the thought process…
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Trade Entry: VISN
I bought 400 shares of VISN at $18.38. This stock was highlighted in today’s trade report, with a buypoint in the $18-19 range. The Setup: Breakout pullback . Volume pattern is solid. Stock is pulling back from recent highs and seems to be showing strength at moving average support. The…
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Trade Entry: SAFM
I took a small 1/4 size pilot position in SAFM today, buying 100 shares at $43.29. This stock was highlighted in the trade report, with a buypoint in the $42-34 range. The Setup: Breakout pullback following a strong bottoming formation. Volume pattern is solid. Stock is pulling back at recent…
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Trade Entry: UTHR
Entered long 100 shares of UTHR at $108.29. Setup: Breakout-Pullback. The stock pulled back to the bottom of the breakout bar before confirming support today. The recent trend is higher highs and lower lows. Buying pullbacks has been lucrative. Nice volume pattern. Risk: My stop is under the tail of…
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Free Sample Trade Report
I am providing the Thursday, August 14 edition of the Market Speculator Trade Report today for blog readers to sample. http://docs.google.com/View?docid=d5z8q8w_102d23q5jfm If you are interested in subscribing to the Trade Report, click here for more information.
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SPY Breaches Key Support Level
As I noted in the member only Trade Report two days ago, I took an early entry short position in SPY (via short ETF SDS)based on the idea that a failed breakout could lead to big gains, while continued up move would stop me out for only a small loss.…
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A Blast From the Past
I like the breakout-pullback setup in FFIV, one of my favorite momo stocks from what now seems like ages ago. Stock broke out over resistance, there’s a nice volume pattern and money seems to rotating into select tech stocks. The fact that the recent breakout was not on heavier volume…
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OT: Looking For Gavin Walsh
Gavin Walsh, Please contact me at Singhjd1@aol.com. Do not use the e-mail address that starts with “service . . . “
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Oil is Setting Up for an Oversold Bounce Trade
Oil is reaching extreme oversold status. If USO (the oil ETF) drops a few points tomorrow morning, or within the next few days, it will provide a low risk long entry. Note that these oversold bounce plays require short hold times and a tight, logical stop. I would place a…
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Trade Entry: POT
In last night’s Trade Report, I highlighted commodities as an oversold bounce setup. I used POT as my primary example and entered today based on last night’s analysis. I bought 300 shares of POT at the open at $176.31. Setup: Oversold bounce setup, within a longer term topping pattern. Stochastics…
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Airlines
I have been saying almost non-stop over the past couple of weeks that airlines are in a short to intermediate term bottoming formation!!! Take a look at the capitulation day in mid-July, followed by that purdy volume pattern. Does it get any better than that? As noted earlier today, I…
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Quick Trade Update
I have exited SSO, LVS, UAUA and AUXL for gains. I also exited the remaining JRCC short position for a positive gain. More details later.
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Trade Update: JRCC, UAUA, CAL, AUXL, SMG, CRY, SSO, POT
Here is an update of today’s trades. I hope to have charts posted tonight. I covered half my short position (200 shares) in JRCC at $37.40 (short at $44.10) for a $1340 gain (+15%). I still have a 200 share short position. My stop is moved up to entry. I…