Friday, September 13, 2013

Just an idea, RNDY, has possibility of moving above $10, if it was me I'd have a stop at yesterday's close of $8.74.

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GTE - long trade
GTE have really tight action in September. After daily triangle consolidation come to 10sma support area and now trying to bounce. Daily consolidation result with weekly continuation pattern and it is chance for good reward trade. Stop is very tight and equal move on daily chart is $7.50 area and that will be my target for now.
Trading plan:
Entry:  $7.01
Stop:     $6.87
Target area:  $7.50 area

Type:  Swing trade

OSK - long trade
First what I see is daily base. It is clearer at weekly time frame. We can see nice consolidation after July bounce and yesterday it was third try for breakup what we can see on the daily time frame. Of course we can see also 60 min consolidation and if that will be really breakup what we like to see then it must stay above 20sma support on the 60 min. If OSK won’t work it will stay on list because of weekly chart and 10sma support.
Trading plan:
Entry:  $47.20
Stop:     $46.75
Target area:  $50 - $52.50 area

Type:  Swing trade

STWO - short trade
BULL trap action what STWO had at Tuesday is what I saw first. After yesterday consolidation day what we can see on the 60 min time frame, I will look for another move down. There is not much room because monthly chart show support area around 23.50 and that will be my target area…so STWD will be day trade because of that move possibility.
Trading plan:
Entry:  $23.80
Stop:     $23.95
Target area:  $23.50 area
Type:  Day trade

CME - Long trade
CME: form daily triangle pattern and break above 50sma resistance will be setup for weekly 20sma support bounce action. We can see monthly pull back after strong run up before summer. Right now monthly pull back is at 100sma support area. So with move above yesterday high we could get weekly bounce and possible run to $80 resistance area. Also if we look at 60 min time frame we can see bull flag in the middle of triangle patter. That mean we can use it for, let’s say, early setup and it will be based on that flag. In that case entry is at $73.28 with stop at $72.95 and if will work well it will bring CME in to weekly/daily breakup. For that possibility and flag setup CME must stay above 60 min 20sma or will be canceled. I will try to use that 60 min flag and I show it in hope that you all will understand how we can cut risk and increase reward, and depends on action after the open I will use it or not, but daily break up will stay valid as second also good reward possibility. 
Trading plan: 
Entry: $74.03 ($73.28) 
Stop: $72.70 ($72.95) 
Target area: $77.50 – 80 – open area 
Type: Swing trade

My "Market Monitor" is acting, "FUNNY", again, the Weekly stocks rising 4% or more is reaching levels it reached at prior tops in May and July, prior to the drops in June and August, and even, "FUNNIER", is that even with the almost 1% rise in the markets today the number of stocks rising 4% dropped for the week, while the Daily stocks dropping 4% or more, on the left side in the red box, increased almost three fold over yesterday. 
I'm not to sure about this thing, as I've only been doing it since the start of the year, but it gets my attention when it starts doing, "FUNNY", stuff, like it is now. I'm not saying the market may head south, I'm just saying that, well, it's doing stuff it did before just before it headed south. 
Every thing else is on a buy, the $NYMO blasted higher, at 55, the $NYSI crossed the 10 MA and the MACD had a positive cross, and the $NYAD's have been picking up steam, soooooo.......... so far so good, for those Pollyanna bull's at least. 

FSLR - long trade
First what I saw on FSLR was 60 min bull flag and odds for bounce from 20sma support area and I use it for trading plan. On the daily chart if FSLR will break resistance line have room to see at least $40 area and depends on pace it can see more (previous high or 50sma). On the weekly it will be bounce from 50sma support and bounce from 10sma monthly support area. With 60 min bull flag looking for possible good reward that bigger charts support for now.
Trading plan:
Entry:  $38.50
Stop:     $38.00
Target area:  $40-42

Type:  Swing trade

APA - long trade
After gap up at 08/30/2013 APA fall in consolidation what we can see on the 60 min time frame and I will use for possible long continuation. Setup is on new high and stop at yesterday low. On the weekly chart we can look for resistance breakup and possible equal move. First resistance is $90 area as number resistance and depends on pace we could look for $95 as final target.
Trading plan:
Entry:  $87.20
Stop:     $86
Target area:  $90 - $95 area

Type:  day - swing trade

Absolutely, positively, a, MUST, read, for those who seek a better understanding of valuation metric's in our markets, what-will-drive-equities-higher-in-next.
Probably should be like a weekend read, I consider it a "REFERENCE" guide that I will book mark for use in future decades, even though I won't be around for the next decade, hahahahaha.


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NOG - long trade
Monthly selling pressure is weaker and weaker which suggest for possible bounce and if that will be case first resistance will be 20sma. For that possible action I will use daily cup and handle and consolidation under 50sma resistance which suggest for a break higher. Also for trading plan I will use 60 min consolidation and again I will try on that way to find good risk/reward for our risk.
Trading plan:
Entry:  $13.15
Stop:     $12.89
Target area:  $14 area and then $14.50
Type:  Swing trade

TWI - short trade
Weekly triangle was broken previous week. With new low that will be confirmation and I will use it for setup. If TWI will break above previous week high and weekly 10sma then it will be prove that previous triangle breakdown was false action and then will be canceled. For target I will use 200sma monthly support that will bring good reward.
Trading plan:
Entry:  $15.75
Stop:     $16.07
Target area:  $13 - $12.50 area
Type:  Swing trade

The Rundown on Runaway Inflation in One Chart
Despite a dramatic increase in the Fed's balance sheet, the Producer and Consumer Price Indexes are subdued
By Elliott Wave International
The Producer and Consumer Price Indexes show no sign of runaway inflation, despite a dramatic increase in the Federal Reserve's balance sheet. That's one reason why Robert Prechter titled the recent double issue of The Elliott Wave Theorist, "Mounting Risk of a Deflationary Crash." Read more.

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