"When people are stressed, they also tend to be trend followers" - Van Tharp

September 18, 2014

Late Night Setups

Here's what tomorrow's swing long watch list looks like:  LPHI and DNDN may be the only one's immediately in play, but these are all at interesting levels.

Trade 'em well!

September 16, 2014

QuickCap: In yo face, bears!

What a bounce back for the bulls today.  There are strong daily reversals in leading stocks everywhere.  Bears can't even lift their heads up these days.

Crude has made it's intentions known early this week as it's putting in a meaningful low.  The first clear resistance is the falling 10 week average around ~96.50.

Celgene bounced back hard today and stalled at the falling 10D.  Tomorrow's action will be interesting.  

In The Big Picture the stock to bond ratio, via SPY relative to TLT, is near a major breakout.  This has major portfolio construction implications.  Keep an eye on it throughout the week.  

ALNY has held up nicely during the mini sell-off.  Other biotechs are alive and well.

IWM failed to make much headway today.  It continues to under-perform the other indices.  114.75 is the pivot i'm watching.

 Freeport Mac is already trying to form an outside week after testing the 40 week moving average.  Maybe miners aren't dead?

One last thought for today.  Isn't this week a great example as to why we need to mentally prepare each day for all scenarios?

Trade 'em well!

September 15, 2014

QuickCap 9/15

It was a tough day for momentum stocks.  The QQQ's are 1 point away from a key support confluence, it doesn't seem like anything stands in the way.

Celgene traded lower, but found support near the 50D.

Tesla found a steady bid at trend support/50D MA.  

Nike bounced at the 10D MA and refused to break down.  This is the key retail cog.  The market needs this to stay over 80.

Facebook dropped like the other momo's, but there is a lot of support nearby. 

Spec players might be interested in this WPCS. It's sitting at a confluence of moving averages closing at 1.34.  This stock is the only thing that comes up on Finviz when you search for Bitcoin.  Maybe they keep ramping it.

Energy has a good shot to reverse it's recent least in the near term.

Alternative energy's long term momentum has lost it's steam at the 2011 high.  This group is starting to appear vulnerable on an intermediate term basis.

Catch you on the tweeter tomorrow


All ideas shown on this blog represent the authors opinion based on the data available.