Wednesday, September 04, 2013

Some thing stinks out there in La La Land, I mean, by all rights we SHOULD have gotten a buy signal today off of the $NYSI at the bottom, instead it just barely moved higher at all, strange stuff it is. The main men at the top, the $NYAD's, have done nothing, I highlighted the last two "Bottoms" in the green boxes to show how we tend to BLAST higher right at the start of a new uptrend, that is OBVIOUSLY missing right now. 
I mean, don't get me wrong, if we get a good follow through day tomorrow then hopefully we get the buy on the $NYSI and the NAD's start blasting higher.
Mike Paulenoff kind of thinks it stinks as well, as he's looking for an entry into the SDS:

Sell Rosh Hashanah, Buy Yom Kippur

Stock Picks for Wednesday September 4, 2013
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Both of these ideas are still in play for Thursday:

MDCO - long trade
We can see triangle pattern on monthly, weekly and daily chart. That is
synergy what we can use for possible swing and longer swing move. For
 trading plan I will go to 60 min time frame and cup and handle pattern.
We can’t be sure about future action but there are odds that we could see
 60 min consolidation (handle) breakup and run to previous daily high what
 is $34 area and maybe on new high. Monthly equal move is $40 area and
 in that case is position trade move.

Trading plan:
Entry: $32.20
Exit: $31.30
Target area: $34 – open
Type: Swing trade

SWFT - short trade
For possible trend change we can look at weekly chart and CCI divergence and first idea is pull back to 20sma what will be initial target area. For entry I was use 60 min 200sma area because it is important swing support area. On the weekly chart we can see that every new high is on weaker CCI what suggest for trend change and also monthly doji (indecision) bar support that possibility. Depends on selling pace I will look for weekly 20sma or $15 as swing target area. When trade start with swing possible move then 20sma is always important support/resistance area and I like to use it for stop. It will show us if that is really swing move or just jumping around situation without truly move in direction what I like and that is reason why I use it for trading plan.
Trading plan:
Entry: $17.90
Exit: $18.25
Target area: $17 -15 area
Type: Swing trade
Stock Picks for Tuesday September 3, 2013
SLM  - short trade
Reason why I like SLM is monthly 200sma resistance (red line), also weekly CCI divergence and triangle with odds for break down. It is true that 20sma weekly is not far and because of that 23 area is first target area for SLM. Also I like 60 min consolidation and I will use it for trading plan. From risk level it will best that SLM will stay few more days in consolidation what will bring it to daily 10sma and that will be resistance overhead what could help us and decrease risk.
Trading plan:
Entry:  23.85
Exit:     $24.20
Target area:  $23 – open

Type:  Swing trade

NFLX  - short trade
For NFLX I don’t have trading plan because I like to see open action first. Of course that we depends on indices action and new, world situation (as Syria right now) but in case that weakness will come I think that NFLX monthly odds for double top pattern )resistance is obviously=, weekly CCI divergence and daily CCI divergence suggest for possible swing short trade. I know that selling high can be dangerous and because of that we need to use smaller risk, but for now I will watch NFLX for possible short under Friday low with stop above Friday high and for pull back to at least daily 20sma (blue line). Depends on action I will post trading plan. I was just like to short what I will looking for.

Bonds No Safe Haven from Stock Market Risk
Bond yields spike to a 2-year high
By Elliott Wave International
The rise in bond yields has puzzled no less than the Federal Reserve chairman. But Elliott Wave International has repeatedly warned that the three-decade-long bull market in bonds was set to end. Now, EWI looks ahead again to make a bold prediction about bonds. Read more.

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