The general tone I am getting from a lot of traders these past few weeks is that of frustration. Many are getting “whip sawed” around in their positions. Lots of stories about 1.) breakouts that just “wont go” and end-up as disappointing head fakes, and 2.) intraday reversals taking them out right @ their stops, just to turn right back in the other direction…FMT!
Its in such markets that we often get asked, “what should I do?”…”ignore my stops?”. The answer is “No…never ignore your stops!!”….”just try going a little more boring”. The follow-up question is more often than not “What is more boring?”
Really the answer is nothing fancy. Boring just is trying to find your favorite setups in what are often considered, boring industry’s. So instead of trying to play high flying techs stocks, or jumping on the precious metals bandwagon, or even going out in your backyard with a shovel in hopes of striking oil, just limit your scans to only run in those industry that we “traders” usually ignore. Industry like utilities, telecommunications, pharmaceuticals, food stocks, railroads, chemicals…ect.
So here are a few “Boring” setups I have my eye on tomorrow.
TLAB – Breakout at 5.37.
TLAB essentially broke its long term downtrend in at the end of April (red line) and has since developed ad new expanding bullish channel ( green lines). Now combine that with a close just above the breakout # $5.35 and you have a solid setup. I’d like to initiate a position on any intraday dip tomorrow. (hopefully near the open) Stop @ the 50DMA or $5.22.
Note* TLAB is not an intraday burner..it trades relatively slowwww compared to most stocks. Pretty BORING!!!
ALB– Consolidation and a double Breakout @ 60.54.
ALB is the next FACEBOOK!! Only Kidding of course! It just specializes in engineered chemicals. Mainly fire retardant plastics and polymers. Gheezzz.. I love to watch things burn….not prevent them from burning…who are they guys???…..BORING!!
HWKN – – Breakout and Break-through @ 41.55.
HWKN..another chemical company. My one warning on this stock is that it typically trades less than 100K in volume so its not as liquid as I would normally like…. SOO BORING!!!
RA – Breakout @ 17.15. I may get in this stock early ( Before the breakout) . Stop @ 16.80.
RA is a railroad stock. You know one of those ridiculously long trains that you sit and wait to go by, of course when you already late to work. Sheeshh..when I think of trains, I think of the cartoon “Thomas the Irain”. ( I have a bunch of Nieces and Nephews )…and its so BORING…trust me!!
OK..OK…OK.. Enough of this boring stuff. Seriously…I’m an old retired football player, but I’m not dead yet! This one that might make your skin crawl. I just might short OIL!!!! That’s right, against the trend…sell the BLACK GOLD. Don’t worry I am not crazy enough to short the “real deal”… just an oil and gas company that has put in a set of lower highs despite oil meteoric rise over the past month.
NOG – Breakdown below support (yellow) and the tread-line ( white). My entry will depend on the market condition and futures tomorrow. Keep an eye on the SharePlanner Trade ticket to see if and when I pull the trigger..( literally shoot Gaddafi ) and go short 🙂 !
My stop will be around $25.15.
