I like the setup enough to where if it can bounce off of the $5 level like it is doing today and get some follow through tomorrow, we could be seeing the potential for $6/share at which point it could have fill that massive gap from earlier this month.
Here's the MCP technical analysis:Read more...
Some big economic news this week and that is the likely the reason why the market opened on Monday to absolute nothingness. Essentially we have been trapped in a 4-point range all day long and don't expect to see much as the afternoon progresses. But it isn't overly surprising either considering we have another 'who-knows-what-will-happen' FOMC statement coming out on Wednesday.
With that said I give you my long watch-list for the week. As always, I will highlight those stocks (just like I did last night) with much more detailed trade setups in the evenings.
For now, I give my last watch-list for October:Read more...
Economic reports due out (all times are eastern): Industrial Production (9:15), Pending Home Sales (10), Dallas Fed Manufacturing Survey (10:30)
My Opinions & Trades:
The SharePlanner Splash Zone continues to have yet another stellar month of trading both on the swing-trading side and with the day-trades too. To date we've piled up 45% in gains on the month. That is hard to beat anywhere you might look, and doubt that you will.
So start the week off right and subscribe to the SharePlanner Splash Zone today with a free 7-day trial.
Now let's get to the business of what I'm watching for with swing-trading setups. All five of which are long. I'm not looking to short anything, and doubt the market will offer us much in they way of opportunity to the downside in the coming weeks.
Here's the swing-trading watch-list:Read more...
I'm excited and proud to announce that my first ever book, "The Part-Time Trader" has been officially published and available for you to purchase. This book has been in the making for over a year now, and it chronicles how I went from being a part-time trader in Corporate America to a full-time trader and founder of SharePlanner.com.
Throughout the book I chronicle my struggles, my strategies, and my successes of how I went from a desk jockey for someone else's benefit to a full-time trader.
So make sure to pick up your copy of the book. I assure you it will be one of the most helpful, humorous, insightful and down-to-earth books you've ever read.
You can purchase your book on Amazon by simply clicking here.
It is also available in digital copy as well through Barnes and Noble, Apple iBooks, and Amazon Kindle.Read more...
Economic reports due out (all times are eastern): Durable Goods Orders (8:30), Consumer Sentiment (9:55), Wholesale Trade (10)
My Opinions & Trades:
That was one heckuva day of trading for Oscar in the SharePlanner Splash Zone. So good, that out of 11 trades, 10 of them were profitable. Just one losing trade out of the whole bunch. An incredible job!
That means we were able to come away with another $505.31 in profits on the day.
Here's how Oscar's day-trades went down:
On the Swing-Trading front, I closed out my last short position for a 1.1% gain which equates to an additional $220 in profits and then added 2 more long positions to increase our exposure and giving us a total of six positions which we have about $2,000 in unrealized gains and all of which are to the long side.
You can receive all our trades via text and email alerts as well as our chat room filled with active traders by signing up today for the SharePlanner Splash Zone. We also have auto-trading through Ditto Trade if you are not able to trade on your own.
So try us today for a free 7-day trial .
With that said, here is today's Swing-Trading Watch-List:Read more...
On the last update I mentioned the real chance of the push higher until it hit resistance and it did just that. Now you have a possible inverse head and shoulders pattern using the same resistance level as its neckline.
Stay patient with the trade setup but it should happen.
Here's the BAC technical analysis:Read more...
Typically there is nothing more painful then me trying to put together a solid SharePlanner video. Either the recording device crashes or the mic is never turned on, or something in the realm of an operator error takes place. For the second week in a row, the lawn care folks have decided to ambush my video. However, it doesn't get in the way of the video itself, which is a good thing.
In this particular video, I go over Apple (AAPL) ahead of earnings, Google (GOOG) and how to manage the stop-loss, and when you should consider retreating from your Facebook (FB) long position. Not to mention I go over plenty in the way of trading material pertaining to the SPX and my trading in general.
Here's the video:Read more...