What a day! Glad we had our puts OPEN and WDC, they faired quite nicely. DLTR and SWI held up nicely as well. This brings us back to the concepts of relative strength and weakness. After these big down days in the broader market we wouldn’t want to be adding new shorts as the best shorts should have moved lower with the market, thus we will look for long setups. Think opposite. Here’s a freebie Trader Interview with me, Tim…
We’re sitting tight on our current positions, longs such as COG, DECK, DLTR, MCD, RHT, SWI, QCOR and some of our shorts consist of OPEN and WDC, both of which we will close out tomorrow if we move higher. That being said we don’t see a whole lot of new positions after today’s choppy trading. Looking for the trend to continue higher this week. Stocks to Watch on 11/8: Longs: None Shorts: None Grab the RSS Feed to have the…
A wedge on the daily broader market is in form. When we trade inside the prior day’s range we will typically continue in the direction of the prior day’s bar. Therefore we are looking for a breakout this week to the upside, but we are prepared for both an up or down move. Here are the stocks we are watching. Stocks to Watch on 11/7: Longs: ABT, AEP, DLTR, MAT, MON Shorts: OPEN, WDC Grab the RSS Feed to have…
The broader market is only moved halfway back in it’s range, off lows from the week. Stocks that are near highs (the stocks we look to get long) should have no troubles breaking out to new highs as the broader market moves to old highs. Stocks to Watch on 11/4: Longs: BBBY, BIIB, DECK, DLTR Shorts: AEM, HSP Going into the weekend we will look to stocks like VXX, FAZ, and TLT to hedge some of our long delta risk.…
The FOMC meeting announcement caused a lot less commotion than in month’s past. Let’s see if we continue the trend of gapping on the open tomorrow. Stocks to Watch on 11/3: Longs: MCD, QCOR, SWI Shorts: (Inverse Funds – Take the Long) FAZ, SDS, TLT, VXX Grab the RSS Feed to have the daily watch list delivered to your email.
Look for more setups to start showing themselves. Stocks to Watch on 11/2: Longs: COG, DECK, FDO, MAT, PII, RHT, TJX, TSCO, TSS, WMT Shorts: None Grab the RSS Feed to have the daily watch list delivered to your email.
With the news of MF Global filing for bankruptcy Monday’s trade was rather wild as many futures traders were forced to sit on the side lines. Here are the stocks we are looking at for tomorrow. Stocks to Watch on 11/1: Longs: KMP, DG, MAT, NUAN Shorts: APKT, NFLX Grab the RSS Feed to have the daily watch list delivered to your email.
Happy Halloween. We are looking for some continued consolidation after last Thursday’s big up move. Perhaps a bull flag, before moving higher. There isn’t much in terms of new setups. We had some large moves in our prior longs DECK and STMP over earnings. FSLR and NFLX also saw large thrusts down. Stay tuned this week for more stocks to watch. Stocks to Watch on 10/31: Longs: KMP Shorts: FSLR Grab the RSS Feed to have the daily watch list…