Swing Trading, Day Trading & Technical Analysis (now at EminiMind.com)

Wk4: Market Recap

2009 has had a rough start to say the least. With the S&P and DOW down 8% and the NASDAQ down 6%, the actions over the next few weeks by President Obama should be a major market mover. The Energy Sector (XLE) was the only S&P sector ETF to be up on the week, the other 7 being (XLB, XLF, XLI, XLK, XLP, XLU, XLV, and XLY). The volatility index (VIX) jumped 10 points on Tuesday, but formed another inverted…

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Wk5: Market Forecast

In the week ahead, we are waiting for President Obama to release his Economic Stimulus Plan. We still have a lot of earnings, but key economic data will be…· FOMC Meeting Weds 2:15ET· Durable Goods Orders Thurs 8:30ET· GDP Fri 8:30 ET Oil Services and Gold are looking strong here. Stocks like RIG and SLB performed very well on Friday and Gold is making another run at $1000 an ounce, however watch GLD on a yearly chart as it is…

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Wk5: Stocks to Watch

To recap we are still long MYGN, GILD and short HUBG. ASEI and AXP hit our profit targets with nice gains. BMRN could be actionable long over the high of the low day, which at this point is Thursday’s high. With stocks like SIVB, RL and SINA that gap on the open you need to look at your risk to reward and see if the stock is still at a low risk entry point. Wait for the first 15 minute…

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Wk4: Watchlist Update 2

Here are a few more stocks to wrap up the week…MYGN (long) Ascending Triangle Entry: Anticipatory trade at $72.60 or a breakout trade at $74.01 Stop: Under swing low Target: $75 Option Play: FEB 75 Calls Comments: MYGN has performed strong in this market climate and is about to breakout to a new 52-Wk high.SIVB (short)Pull Back to ResistanceEntry: $21.24 Stop: Over swing high Target: $20Option Play: FEB 22.50 CallsComments: SIVB has been in a downtrend and continues to push…

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Wk4: Watchlist Update

All our picks for the week are doing quite well. BMRN has pulled back nicely and is setting up for an entry. GILD broke out today and closed above its 200 day moving average. SINA and RL gapped lower Tuesday, but continued to breakdown to are target before rallying and AXP broken down from it’s descending triangle which will now act as resistance. Here is another stock to add to the long pile. ASEI (long)Ascending TriangleEntry: $80.00Stop: Under Wednesday’s lowTarget:…

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Wk3: Market Recap

Week three was full of emotion. The major indices broke down below their moving averages with the financial sector performing the worst. The market will often times move in the path of least resistance so these trend lines should now act as resistance points if a rally should occur. Monday’s bearish A/D Line and Breadth Ratio along with a 3 point rise in the Volatility Index (VIX) was the first sign that fear was resuming into the markets. Thursday’s bottom…

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Wk4: Market Forecast

In the week ahead, we should see somewhat of a range bound market. While a stochastic oscillator reads oversold, the moving averages will act as resistance if there is an attempt to move higher. We are entering a 5 week option expiry cycle kicked off with president elect Obama’s inauguration on Tuesday. This should produce a light trading day, however earnings season is heating up and big names like Johnson and Johnson, TD Ameritrade, CSX and IBM all report on…

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Wk4: Stocks to Watch

A sideways market creates an environment less likely to produce breakouts or breakdowns in individual stocks so keep that in mind for the coming week. Keep these tickers on your radar, wait for price pattern confirmation and keep an eye on the volume for each. BMRN (long)Ascending TriangleEntry: Waiting for pullback, buy above the high of the low dayStop: Place stop under the pullbacks lowTarget: $23Option Play: FEB 20 callsComments: BMRN recently broke out of resistance on pretty good volume,…

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