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Today’s Trade: FLR
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…
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Today’s Trades: GRMN, LEH and QID
I know I will receive alot of questions asking why I didn’t stick with my short positions longer. While I do feel like the market has more room to the downside, I don’t trust pre-holiday trading for sustained moves. Therefore, I feel it’s best to take my profits with shorter…
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Today’s Trades: LFC and SDS
Missing the moves in BCSI and CROX this past week allowed me to come to a conclusion about current market conditions: the small list of realy strong momentum stocks are not pulling back much in this market. My best guess as to the reasoning for this phenomena is that there…
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Two Stocks to Watch: FLR and HOC
It’s tough to guess which way the market will go this week, so I won’t make any big bets in either direction. While the bulls did a fine job in terms of price action, what we had was a “V-ish” move toward resistance on light volume. That’s not bullish. So…
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Eleven Articles that Educated or Entertained Me
Here are eleven articles that either educated or entertained me: Chris Perruna makes the case for the best home-builder stock (Stocks). Organize by urgency vs importance (Time Management). The Sports Guy is always an entertaining read (Sports/Comedy). James Brown being crazy on the news (Entertainment/Comedy). Mark Cuban on Metcalfe’s Law…
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Chart: IDXX
Last night I was scanning sectors that had outperfomed the market over the past month. Number one on the list was Diagnostics, a sub-industry in the Healthcare sector. A stock that caught my eye that had not been showing up on my nightly scans and focus lists was IDXX. Most…
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Shorting Momentum Stocks: the GRMN Trade
Those of you familiar with my trading style know I rarely short high flying stocks. While it seems logical to go against a stock that is overextended, this type of trade generally takes on too much risk. Stocks tend to trend longer than they “should” due to market psychology and…
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Trades: UA, CROX, NOV, GRMN, STLD, GMRC, LEH, SDS
As noted in yesterday’s post and comments, I took positions early in the day yesterday and exited early today. While I am still very bullish on the 4 stocks I bought, today’s strength was not confirmed by volume, and all of the stocks are nearing resitance levels. Therefore, I decided…
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SGR Lookin’ Like a Dead Cat
Shaw Group Inc. (SGR) is a former high flying stock that seems to have lost its mojo. In July, the stock gapped up after a long uptrend, but could not hold the gap level. It now looks like the gap was an “exhaustion gap“, which usually comes at the end…
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Today’s Trades: GRMN, UA, CROX, NOV LEH, STLD AND SDS
A quick note that today I went long GRMN, UA, CROX, NOV I am short LEH and STLD. I also initiated a position in SDS, which is a leveraged ETF short the S&P . I’m off to a meeting and hope to post more detailed info shortly.
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Stock From the Watchlist: BCSI
BCSI has been a big winner over the past six months. Let’s take a look at the chart: The Good:Strong trend; breakout over resistance; accumulation, strong obv The Bad:Breakout not on above average volume; negative RSI divergence (RSI lower on breakout than previous high) The Verdict:I wouldn’t be suprised to…
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My Narrowed Focus List
With the market giving conflicting signals, I’ve substantially narrowed my primary watchlists. Here is my current list, exactly as it appears in my notes: Potential Longs:OMTR, NVDA, CMG, UA, NOV, GMCR, BCSI, GRMN, DNR, OII, LVS, CROX, WYNN, PCLN. Stocks of interest, but need a “tell” for direction:EWZ, VLO, TOT,…
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The Housing Stock Conundrum: Analyzing TOL
Housing stocks have made a windfall for those bright minded speculators who have traded the obvious short entry signals over the past year (I am not in that prestigious group). While the trend is still negative, there are signs that we may see a bottom forming. Today I analyze Toll…
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The "Throw Up" Trade Produces My Greatest Trading Day
When things were at there worst yesterday, besided feeling like throwing up, I felt the markets were extremely oversold and ready for a bounce. I entered seven short term positions which I sold into today’s strength (please note that I posted tickers of my entries yesterday). The only thing that…
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If You Feel Like Throwing up, Go Against Your Better Judgment
I subscribe to the theory that when things are at their worst, when you have that knot in your stomach that makes you want to throw up, and you feel like there’s nothing but gloom ahead, that is the time to do the opposite of what your emotions are telling…
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Distribution is Taking Over
Lately I have advised that market the volatility is just noise within a range and it is too early to make predictions in either direction. Things are becoming clearer now, and the news is not good for bulls. The SPY (S&P 500 ETF) has broke down below both price and…
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Today’s Trades: NOV (and Steel comment)
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…
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Four Reasons to Sell Steel
The steel sector, which has been one of my favorites over the past year, has undergone a change in character that now puts it on my “short watchlist.” Four elements make it an attractive short: 1. Signs of distribution, with high volume down days accompanied by low volume updays. 2.…
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Primary Watchlist
The following stocks are on my Primary Watchlist as long setups: CROX, MOS, WYNN, SWHC, CMG, GME, NOV, BCSI, OII, POT, LVS, UA, GRMN, DRYS, and TBSI All of these stocks are trend pullback plays that have held up over the past two weeks.
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Five Things You Need to Know About the Market
I often get asked by my readers where I think the market is headed. To the surprise of many, I never make a prediction, and quite frankly, am not good at making arbitrary market calls. However, once I get the correct signals, I have a good feel for when it…
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Paul J Singh 