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Today’s Breakout: MA
The street must have liked MA’s earnings results. This is one of the few stocks that has defied my volume analysis. Stocks floating up on poor volume are usually setup for a fall, especially around earnings. Think POT for a good example of this. MA is now on my breakout-pullback…
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Monday Breakouts
Here are two breakouts that interest me: ISYSI would like to buy this one on a pullback to the breakout point. Nice trending stock with good volume pattern. ALRPSimilar to ISYS, the only major difference is the overall price trend has been more volatile.
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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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This Week’s Focus List
Here are 12 stocks I’ll have my eye on this week. Many of the bullish stocks seem to be bouncing at support. I am looking for weak bounces to enter short the bearish stocks. Bearish Watchlist: Bullish Watchlist:
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Breakouts with Strong Volume Trends
Friday’s nightly breakout scan listed just over 100 stocks. An easy way to trim the fat and find good setups to trade is to sort breakouts by obv ranking. This will find breakout stocks with strong volume patterns. Here are Friday’s top 25:
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35 Important Trading Tips
I have compiled a list of tips that turned me into an above average trader. Feel free to add to this list in the comments section. 1. Enter strong stocks when stochastics are oversold. 2. Make sure volume confirms entries. 3. Analyze the top and bottom 20 sectors every Sunday.…
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Trades: POT, DZZ and NFLX
As noted in comments, I made a few trades. I covered 100 shares of POT at $194.36 (short entry at $208.77) for a $1441 gain (+6.8%). The stock was 4 points from my target, but today’s drop was too good to sit back. I may enter again on a bounce.…
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Potash Trade
Potash finally posted an extremely bearish day. Although I felt strongly that the stock was ripe for a fall, I have to admit I got a little nervous when the stock started creeping dangerously close to my stop in the $215 range (I went short at $208.77). I highlighted a…
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Just the Charts Please
Have you ever admired an actor to the point of watching all of his movies, but then you hear them say something so stupid it made you never want to watch one of their movies again? This evening I encountered that same phenomenon in the blogging world: If you are…
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Today’s Trade Entry: ACH
I bought 300 shares of ACH at an average price of $43.08. I usually don’t make long entries on beaten down stocks or sectors, but China stocks are due for a bounce and today’s strong breakout offers the type of volume catalyst that could be good for a few points.…
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Stocks to Watch
Here are a few stocks that I am monitoring. breakouts: MICC, CPO, breakdowns: DST, MDP, NFLX, BJS, Bullish: DOX, JOYG, TSL, NKE, STLD, GTLS, Bearish:CRS, MNST, USM, NVDA, UA, HMSY, MBT
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Market Notes
I received a few e-mails today asking if today is an “orderly pullback” or the end of the “bear market rally” that I’ve mentioned. Well, it could be both. There is still room to move higher and still remain in bear market mode. However, in the short term, all today’s…
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From Long to Short: NFLX
NFLX (Netflix) is a good example of a stock that can change from a long to a short setup on the turn of a dime. Apparently the street did not like the earnings call, as the stock gapped down and broke major support levels. I may short in a few…
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Trades: POT and CAT
I am short 100 shares of POT at $208.77. This trade is similar to the failed trade I made in HAL. Basically, I set a short-limit order to go short at $208 this morning. The idea is the stock is so extended that a strong open would likely pull back.…
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Market Prep Notes
Here are my notes for Monday, copied from my personal journal: It looks like we are in the midst of a powerful bear market rally offering long opportunities. However, no evidence that the primary trend has changed. Wait for a pullback for long entries. Markets are oversold with SPY showing…
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Chart: SID
SID looks like many of the charts in my longs watchlist. A bit extended but attractive on a low volume pullback to support. Take a look at the stochastic reading. I don’t like to enter on overbought conditions, and the has reached that level with the fast line above 80.
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Trades: MTL, HAL, ANR, RRC, CSX
I exited 300 shares of CSX at $60.64 (entry at $56.10) for a $1362 gain (+8.1%). I exited 100 shares of MTL at $154.40 (entry at $143.46) for a $1094 gain (+7.6%). I exited 200 shares of HAL at $47.10 (entry at $44.83) for a $454 loss (-5.06%). As noted…
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Why Would I Be Interested in What I Can Already Do?
Over the years I have learned to appreciate those who do things counter to my own “way” or style. A few years ago I was visiting with an successful artist friend who draws heroes in a dark, gothic style (think Batman Begins versus the old campy Batman TV shows of…
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Focus List
The stocks in my focus list for the next few days all have broken out and I’m looking for pullbacks for entry. RRC, SID, ANR, RDC, FDG, MTL, STLD, GTLS, KSU, NFLX, RSX.Not much has changed in the short watchlist.11:30 am (central) update–I have taken positions in a few of…
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Today’s Thoughts
Relax guys, HAL was only up 1 percent today. Considering what the market did, I’d say I still have a good chance of making some money on this short play. You can say “I told you so” if I exit with a loss. For those that missed it, here is…
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Today’s Trades: NFLX, FWLT, SSO, DUG, SKF
I exited 400 shares of NFLX at $37.44 (entry at $36.20) for a $496 gain (+3.4%). My target was higher but the stock seems to be trading within a range and earnings are coming up soon. Yesterday I covered 400 shares of FWLT at $58.34 (entry at $62) for a…