Paul J Singh

Those candles I pointed to last night did exactly as expected, and I couldn’t be happier. It was a frantic morning for me, trying to keep up with the strong open for many, many stocks in these two sectors. GG had a strong day and may have more bounce left.…

Many of the beaten down sectors printed hammers (candles with long tails that close near the high of the day). Hammers can signal the reversal of a downtrend, as buyers jump in after the weakest hands have been shaken out, especially if the hammer prints at strong support. The prudent…

I’m seeing some of the same divergences in gold stocks that I posted in HAL last night; specifically stochastics, MACD and RSI all moving up while price has moves down. I decided to take a position in GG instead of HAL since PBV bars in GG indicate support close to…

RSI, Stochastic and MACD divergences could mean HAL (Halliburton CO.) is ready for a short term bounce.

For all da white boyz in da house!

I covered the remaining 200 shares of BOOM at $32.90 for a$556 gain (+7.9%). The entire BOOM short made $925. While it still looks like a good short, I took profits at the 50 day MA. I covered the remaining 300 shares of CAL at $28.45 for a $513 gain…

In case you missed this much reported comparison, here’s a chart showing just how closely related Bush’s approval ratings are to the price of gas. How does this effect us as traders? Simply put, there is no way in hell I would be long oil at election time, both this…

One of the market’s favorite recent momentum plays, GROW (U.S. Global Investors, Inc.), has run into a bit of trouble. I am monitoring the developing $30-34 range. A breakout in either direction will likely get me into the stock, although would prefer a breakdown since I have a bearish bias…

I covered 250 shares of HP at $23.30 for a $270 gain (4.6%). When the stock had broken down to $23.15, I moved my stop up to lock in a 1 point gain. I’m glad I did. I covered 300 shares of BOOM at $34.45 for a $369 gain (3.7%).…

I’m not sure which way energy stocks are going to turn from here, but they are at a critical level. I am watching the following energy stocks: ALJ, FTO, HOC, HAL, PCZ, ARD, OII and PTEN.

Here is the chart on which I based the BOOM (Dynamic Materials Corp.) trade: Off Topics: Another track from my playlist:Fray’s “Over My Head” Video Version Live Accoustic

I went short 500 shares of BOOM (Dynamic Materials) at $35.68. I’ll post a chart later tonight. That’s makes it four current short holdings. I had better be right!

AKAM (Akamai Technologies) has been a powerful momentum stock over the past few months. However, it looks like it’s due for a playable dip. The gap down on strong volume was the first thing that caught my eye. The technicals are sending signals as well. The RSI has gone from…

I went short 500 shares UARM (Under Armor Inc.) at $39.88 this morning. The stock is butting up against resistance, has an extremely oversold stochastic that is pointing down, is inside the upper bollinger band for the first time in 5 days, a lower RSI than the first time it…

Overall, not much changed on my watchlists today. However, there was one big development: metals, most notable gold, and oil services stocks bounced quite nicely today. I will be watching resistance lines in these stocks very closely over the next few days and, if it feels right, make some big…

I just had an IM chat with a trading buddy. After listening to me whine about my two losing trades this week, he asked me a question: How many times did Babe Ruth stike out? Then he signed off. Well, I had to look it up. The answer is one…

I am short 250 shares HP at $23.38 I am short 250 shares BBBY at $37.55 I won’t go into much detail since I posted charts of these two stocks last night. Stops on both stocks have been placed a little above the resistance lines.

Looking ahead to the following week, my watchlist favors the short side by a margin of about 3:1. Stocks on my “longs” list include: NVDA, IGT, BRCM, AAPL, GROW and CHL. Stock on my “shorts” list include AA, SIL, HP, IOC, BOOM, RIO, DHI, NTRI, JOYG, CTXS, MOT, BBBY, UARM,…

I completed 4 trades this week: BOOM: ShortEntry: $36.80Exit: $35.35 & $33.90Stop: $38.20Risk: 3R gainHold Time: 5 trading daysProfit: +$1107 (+6%) Notes: I played this trade correctly and did not give in to the temptation to bail before the stop h it. The stock is still on my watch list…

{Those visiting this site via TraderMike, Brett Steenbarger or Charles Kirk, please check out the rest of my site by clicking on “The Market Speculator” link here or above. Thanks for visiting!} Trading psychologist extraordinaire Brett Steenbarger had an excellent post yesterday relating sports psychology to trading. I highly recommend…

I am keeping an eye on BOBJ‘s breakout point since the stock was smacked down by the 200 day MA. A move below the breakout point would set it up for a big fall. However, if the stock consolidates on low volume and does not dip below $29, it could…