Looking through some low-dollar stocks this morning, I found three in particular that looked prime for the trade. I’m going to warn you though, these stocks move fast and furious, so you want to pay close attention to them, and use tight stop-losses. LONG: China Shen Zhou Mining & Resources [...]
Current Long Positions (stop-losses in parentheses): QID (9.99), TWM (11.39) Current Short Positions (stop-losses in parentheses): LSI (6.53), GLD (133.67), SNDK (50.20) BIAS: 28% Short (counts QID & TWM as a short) Economic Reports Due Out (Times are EST): Jobless Claims (8:30am), Wholesale Trade (10am), EIA Natural Gas Report (10:30am), [...]
Lots of action in after hours trading with The Street frowning upon the Cisco (CSCO) earnings. Depending on how the market ultimately responds, I have for you below a few setups to chew on. Garmin Ltd (GRMN) – Broke out nicely above $32, and for the first time appears to [...]
This screen here is useful for finding those stocks starting to catch some momentum to the upside. This is similar to its sister-screen that I call “Stocks That Are Breaking Down” (but just the exact opposite). A lot of these stocks are positioned for breakouts in the near future. If you [...]
Current Long Positions (stop-losses in parentheses): QID (9.99), TWM (11.39) Current Short Positions (stop-losses in parentheses): LSI (6.53), GLD (133.67), SNDK (49.80) BIAS: 35% Short (counts QID & TWM as a short) Economic Reports Due Out (Times are EST): MBA Purchase Applications (7am) Bernanke Speaks (10am), EIA Petroleum Status (10:30am) [...]
Five setups to pay attention to tomorrow – 3 of which are long setups, and the other 2 short setups. Patriot Coal (PCX) – Tested 20-day moving average two days in a row with doji candles. Has been a consistent source of support. Vmware (VMW) – Bear flag. Price unable [...]
The S&P is at session highs and rally highs, but as we have seen over the past seven market sessions, volume continues to dry up, and the possibility of a real pullback, considering how over extended we are, is very real. I know I’m sounding like a broken record, but [...]
Added a new position with Sandisk (SNDK) which was upgraded this morning by Sterne Agee. The stock continues to rally on declining volume, and managed to find some resistance right at the descending trendline. Optimal risk and reward here as my stop is very tight going into the trade. Not [...]
Current Long Positions (stop-losses in parentheses): QID (9.99), TWM (11.39) Current Short Positions (stop-losses in parentheses): LSI (6.53), GLD $133.67 BIAS: 28% Short (counts QID & TWM as a short) Economic Reports Due Out (Times are EST): ICSC-Goldman Store Sales (7:45am), Redbook (8:55am) My Observations and What to Expect: Futures [...]
Towards the close of the day, I placed two new short setups one in LSI Corp (LSI) at $6.42 and the Gold ETF (GLD) at $131.74. The stops are tight on each, so if these trades go against me, the losses are minimal, but the reward much more. The setups [...]
Should this market head lower, which I believe (as I’ve said multiple times of late) will this week, then here are seven short setups to get you started tomorrow. Here are the nitty-gritty and quick reasons for each setup. Anadigics (ANAD) – Nice downtrend in place, with tight price consolidation, [...]
