Last weeks watchlist was solid once again, with a few of our longs FDO and FNF bringing in quite a profit. Be cautious heading into next week as Economic News will be the catalyst for movement. Here are the tickets we like thus far… LongCTR – On a breakout of $19.DLTR – On a breakout of $45.LANC – On a breakout of $43.MJN – Potential entry on this recent IPO, easy to manage the trade with a stop under Friday’s…
For newer traders and veterans alike, revenge trading can become a big problem and lead to over trading. When a trade goes against you we sometimes feel the need to get back to even, or make it back on the next trade in the market that took it from us in the first place. This in turn leads to more losses. The most important thing about trading is knowing when to stop. Having a rule, or line in the sand…
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News of GM and Chrysler on the brink of falling into bankruptcy and President Obama’s removal of GM’s chairman made for an unsettling opening to the week. The markets gapped lower Monday, but strengthened as the week progressed.The ISM manufacturing report Tuesday pointed to a sign that the worst may potentially be over for the economy. This is the second month of improvement with new orders showing a shallower rate of reduction. Friday Employment Situation report showed another 600k+ loss…
Not too much this week in terms of economic news…· Thurs: International Trade 8:30 AM ET· Thurs: Jobless Claims 8:30 AM ET· Fri: Matket Closed/Banks Open – Good Friday We’re looking to the S&P 875 area as the next price target, that being prior resistance. The 820-830 area will act as support if we do pull back and will make for a great buying opportunity. Watch for reoccurring higher highs and higher lows to signify an uptrend. As soon as…
Week 14’s watchlist was quite profitable once again. We’re looking for the rally to continue in week 15, but as always want to stay balanced with our longs and shorts. Long:FDO – A move above Friday’s hammer should lead to a return to the $34 area for this stock. Otherwise watch for a consolidation here at the $30.50 – $32 level. FNF – We like this stock on a breakout and retest of the $20.50 level.HGG – A nice Ascending…