I’ve actually, while typing out this post, added one of the names on the list (yes these are legitimate setups unlike a lot of websites out there) as the setup looks solid and the market seemed interested in putting in a bottom to today’s action. 

Nexen (NXY) was added at $16.46 (see chart below) and has an elevated amount of risk to it, but I’m looking for current support to hold after having broken out of the IH&S pattern recently (and has since pulled back to the breakout level). 

The other three setups (one short and two longs) have a lot of appeal to them as well, and can be taken as positions at this very moment. 

By the way – did you cat the trade I made in PCYC this morning? Bounced perfectly off of the 10-day moving average and has moved about 5% in my favor already. I plan on holding it overnight – assuming it doesn’t somehow implode in the last 30 minutes of trading. 

LONG: Nexen (NXY)

Nexen NXY

LONG: US Natural Gas (UNG)

US Natural Gas UNG

LONG: Constellation Brands (STZ)

Constellation Brands STZ

SHORT: Commonvault Systems (CVLT)

Commvault Systems CVLT

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