Despite recent market weakness - members of the SharePlanner Splash Zone are still profiting in turbulent times. Join me by signing up for a Free 7-Day Trial where you will be given access to the member chat room as well as receive all my swing-trade alerts via email and text (international too). Join Today!

Here's tomorrow's swing-trading watch-list:

Long Apple (AAPL)

t-aapl

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There's no doubt about it we are in the midst of a market bounce.

However, there are plenty of those out there that will insist on trying to time the top of every market top and in this case every dead cat bounce instead of simply waiting for the market to provide us with the direction it wants us to trade. 

With the current bounce that started in the middle of last week, I have added four positions to the portfolio which includes the 8.7% made on UPRO that I closed out for members of the SharePlanner Splash Zone. But no worries, as I have more from where that came from with 2% in gains on Ross Stores (ROST) and then two new positions that were added today in Pier 1 Imports (PIR) for almost 2% and Rackspace Hosting (RAX), which I am currently just a shade below breakeven on. 

While others have struggled with the month of October, members of the SharedPlanner Splash Zone have thrived. 

So if you are tired of figuring out how you are supposed to trade this most difficult of markets, then sign up for a Free 7-Day Trial to the SharePlanner Splash Zone and start trading with me tomorrow and all the other great traders that comprise of the Splash Zone. With your membership you will also receive all my alerts via email and text (international numbers too) along with access to my premium chat room. 

With The Splash Zone, you will get my low risk and high probability trade setups that no other trading service can offer.

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Some solid momentum out there in the market today. 

Though I wouldn't say it is a day where the bears are being significantly squeezed, they still have to ask themselves how high this bounce could go and will it wipe out the profits that they have made over the past few weeks. 

The bounces are where the bears get into trouble because they hate liquidating their positions and instead they convince themselves that they can hold through any bounce the market may throw their way when in reality they should be covering into weakness, not in the absence of it. 

With that said, I am watching a few major price levels going forward: the first is 1898 on SPX and the second is 1920. Holding past 1920 will be difficult for me to do as it could represent the pinnacle of a dead cat bounce and for that, I'm not willing to roll the dice on the assumption that we will break through that price level. In the meantime there are definitely some long positions that can be had on the list below of my bullish swing trade setups that I am currently following. 

Here's the bullish list of swing-trade setups:

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Pre-market update:

  • Asian markets traded 2.7% higher.
  • European markets are trading 1.1% lower.
  • US futures are trading 0.3% lower ahead of the market open. 


Economic reports due out (all times are eastern):
None

Technical Outlook (SPX):

  • Strong follow through on Friday following Thursday's bounce action. 
  • Today's open is being weighed down by weakness in Europe in addition to IBM reporting a significant earnings miss. 
  • Volume remained strong on SPX during the bounce. 
  • Bulls, must fade the gap down if they are to keep this market from starting the next leg down. 
  • SPX has been rallying nicely with a series of higher-highs and higher-lows on the 30 minute chart. To keep this going it will need to hold 1877 this morning. 
  • If the rally continue there is plenty resistance hovering around 1910-1920 area. '
  • RUT was surprisingly down on Friday despite SPX being up over 1% - a major concern for traders throughout the day. 
  • VIX dropped 12.7% down to 22. 
  • The market doesn't care about the economy nor earnings. That is not what is driving it. The market only cares about what the Fed is doing to keep equities propped up. 


My Trades:

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Despite recent market weakness - members of the SharePlanner Splash Zone are still profiting in turbulent times. Join me by signing up for a Free 7-Day Trial where you will be given access to the member chat room as well as receive all my swing-trade alerts via email and text (international too). Join Today!

Here's tomorrow's swing-trading watch-list:

Long Rackspace Hosting (RAX)

t-rax

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Pre-market update:

  • Asian markets traded 0.8% lower.
  • European markets are trading 1.6% lower.
  • US futures are trading 1.3 lower ahead of the market open. 


Economic reports due out (all times are eastern):
Housing Starts (8:30), Consumer Sentiment (9:55)

Technical Outlook (SPX):

  • Huge pop in the futures overnight suggests this market is ready to start the dead cat bounce. 
  • Russell had already started forecasting the beginning of this bounce by finishing green in each of the last 3 days. 
  • SPX tried to push the market lower, but the selling had become exasperated and the shorts were forced to cover. 
  • Look for more shorts to be forced to cover their positions today as the market rallies. 
  • Also watch resistance today at around 1907 on SPX.
  • At some point the bears will look to use this rally to add to new short positions. Could happen today, but more likely after a few days of rallying. 
  • Two straight days of either a large hammer or doji on SPX daily chart. 
  • SPX 30 minute chart is showing the first signs of a higher-high being formed along with its downtrend being broken. 
  • VIX dropped 4% down to 25.20.
  • Volume remains well above average. 
  • The market doesn't care about the economy nor earnings. That is not what is driving it. The market only cares about what the Fed is doing to keep equities propped up. 


My Trades:

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Despite recent market weakness - members of the SharePlanner Splash Zone are still profiting in turbulent times. Join me by signing up for a Free 7-Day Trial where you will be given access to the member chat room as well as receive all my swing-trade alerts via email and text (international too). Join Today!

Here's tomorrow's swing-trading watch-list:

Long Las Vegas Sands (LVS)

lvs

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Are we loving this market yet? 

Whether you are long or you are short, your nerves are fried. I've been both during the down turn, and both sides of the trade have their moments of difficultly and frustration. But now that the market has dramatically sold off, where do we currently stand in this market? 

Do we crash? 

Do we bounce? 

One thing for sure, with the huge increase in volatility, I highly doubt we stay where we are. 

So let's take a look at the SharePlanner Reversal Indicator.

On the daily chart you have a very overextend market overlayed on a flat lined reversal line that could flash the bullish reversal any day now.

Here's the Daily SPRI:

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Pre-market update:

  • Asian markets traded 1.9% lower.
  • European markets are trading 2.2% lower.
  • US futures are trading 1.3 lower ahead of the market open. 


Economic reports due out (all times are eastern):
Jobless Claims (8:30), Industrial Production (9:15) Philadelphia Fed Survey (10), Housing Market Index (10), EIA Natural Gas Report (10:30), EIA Petroleum Status Report (11)

Technical Outlook (SPX):

  • Huge hammer yesterday, probably one of the biggest ones I have ever seen. Its lows will market key support for the market today. 
  • Ebola and European financial fears continue to fan the bearish flames of this market. 
  • Earnings are hammering company's stock prices - case in point Netflix (NFLX). 
  • SPX still hasn't managed to provide the bounce that would seem likely at the current levels. Nonetheless, no bounce has materialized whatsoever. 
  • Futures are setting up for a significant gap lower. 
  • Volume continues to rapidly increase each day - well above the average for all the indices. Yesterday's was the highest that we've seen in a very, very long-time. 
  • SPX 30-minute chart still unable to create a higher-high in this market. 
  • VIX index climbed, at one point over 30 yesterday only to settle in at 26.25. 
  • Despite the market movements, T2108 (% stocks trading above 40-day moving average) remained unchanged yet again. 
  • The market doesn't care about the economy nor earnings. That is not what is driving it. The market only cares about what the Fed is doing to keep equities propped up. 


My Trades:

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Pre-market update:

  • Asian markets traded 1.4% lower.
  • European markets are trading 0.7% higher.
  • US futures are trading 0.9 lower ahead of the market open. 


Economic reports due out (all times are eastern):
MBA Purchase Applications (7), Producer Price Index (8:30), Retail Sales (8:30), Empire State Manufacturing Survey (8:30), Atlanta Fed Business Inflation  Expectations (10), Business Inventories (10), Beige Book (2)

Technical Outlook (SPX):

  • There's a large trading area of support between 1859 and 1884 that could offer some support for this market today. 
  • Futures are setting up for a significant gap lower. 
  • Ebola fears as well is gripping this market and a major player in this sell-off. 
  • Much of the selling we have seen lately has not been a result of large gap downs like the one that is seen in the pre-market today. Gaps ups have all been faded. The possibility exists the same could happen with this gap down. 
  • Volume continues to rapidly increase each day - well above the average for all the indices. 
  • SPX 30-minute chart showed the potential for a double bottom to be in place yesterday, but instead will break that pattern at the open today and create a new lower-low for SPX.
  • Bullish divergences were abounding yesterday with VIX finishing 7.5% lower to 22.79 and T2108 bouncing 28% higher to 17.22. 
  • SPX is so oversold that a solid rally off of these lows makes sense - but only expect it to last 2-3 days. 
  • The market doesn't care about the economy nor earnings. That is not what is driving it. The market only cares about what the Fed is doing to keep equities propped up. 


My Trades:

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