Cisco (CSCO) is heading straight for $21 after retesting the downward trend-line off of the August highs.
Also there is a still a huge gap to fill there as well. Then and only then would I entertain the prospect of a long position in CSCO.
Here's the chart analysis for CSCO:Read more...
Apple (AAPL) reports earnings and it's up, it's down, and it's all around. But ignore all the gyrations, the noise and hype surrounding the stock and stick to what we know:
The stock was rejected at the $540 resistance level and has heavily sold off since. That leads me to think that the stock is more likely to see $510 before it garners any interest from the bulls going forward.
Here's the Apple technical analysis:Read more...
We're closing in on the end of the month and the market seems to be treading quietly ahead of the FOMC statement on Wednesday.
Remember, last time we rallied hard into the FOMC statement was 6 weeks ago and it it marked a top in the market that led to a multi-week pullback.
So be on guard and have my watch-list handy just in case:Read more...
Economic reports due out (all times are eastern): ICSC-Goldman Store Sales (7:45), Producer Price Index (8:30), Retail Sales (8:30), Redbook (8:55), S&P Case-Shiller HPI (9), Business Inventories (10), Consumer Confidence (10)
My Opinions & Trades:
It was a chop-fest all day long today. The day-trading in the Splash Zone was busy and still managed to squeak out a $77 day overall. It doesn't sound like much but when you are adding consistent profit to your portfolio and not taking away from it, that is nothing to frown upon.
On the other side of the trading aisle the Swing-Trading closed out LYV at $19.26 from $18.80 for a nice $490 in profit.
We've been piling on the profits in October, and we'd love to have you in the SharePlanner Splash Zone so be sure to sign up for our free 7-Day trial by clicking here.
Now on to the SharePlanner Watch-List. Tonight I'm posting three short setups and two long setups. Ahead of the FOMC statement, I think it's important to load up the quiver with some short opportunities just in case whatever is said marks another short-term top like last FOMC statement.
Here's the setups:Read more...
Nice megaphone play that has Baidu (BIDU) bouncing right back to the short-term uptrend. If it holds, it could be good for $10-15 to the upside.
So if you are going to get long, get long above $154. The ideal stop-loss is probably somewhere around $149.50.
Here's the BIDU technical analysis:Read more...
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...