Friday, October 18, 2013

TRADE IDEAS FOR FRIDAY, OCTOBER 18
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PCP - long trade
PCP earning date is at October 24th and it have few days for run in to $250 area what will be target area so we could count for possible buying in to earnings. For that I will sue new high what will be daily/60 min triangle breakout, daily and weekly charts suggest that with equal move PCP could see that area and in case that won’t work well I will use stop under 60 min 20sma what is important support area. 
Trading plan: 
Entry: $242.05 
Stop: $239.90 
Target area: $250 area 
Type: Swing trade





XME is exhibiting a very clear "INVERSE" head and shoulders pattern, there are a number of items I like about this. First, it rejected off of strong resistance at $39 yesterday, which provided support back in March, and resistance in April, May and again last month, a break over that $39 moves us into an "Air Pocket" that might not provide much resistance until around $44, which is also an "Equal Move" off of the Head of the pattern back in July. I also very much like the "TIME" element, as we have almost the exact amount of time from the March low to the July "Head", and from that low to where we are now. My stop would be under that bottom trend line, or $36 at the most, which gives an R/R of 2.5 to a possible 5.5 in gains, not to good but do-able if you can get it going in your direction and start trailing stops. I use options of course in order to limit my losses, you can do what you want. 


The $NYSI just eeked out a buy signal yesterday, I mean, we, COULD, 
whip saw, but it is wad it is. The $NYAD's blasted higher, and are in 
position to take back a LEADING position, one more day should do it. 

TRADE IDEAS FOR THURSDAY, OCTOBER 17
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L - long trade
I like 60 min consolidation and we can see now base at high of bigger range what is also 3rd try that range will be broken. If L will break then I don’t want give too much room and I will sue 60 min 20sma support area for stop and because of that stop is at $48.40.- On the weekly chart we can see that equal move will be around $50 area and that will be my target area. Setup is simply and it is above yesterday high what should bring us prove for upside continuation. 
Trading plan: 
Entry: $48.75 
Stop: $48.40 
Target area: $50 area

Type: day - swing trade






PNK - short trade
Monthly strong CCI divergence suggests that PNK will see some correction and if will look over smaller time frames then we can see first daily 50sma consolidation. Usually when chart support above support area then odds for break under support will increase and because of that I will like to 8use it for swing possibility with monthly chart support. Obviously key support is daily 50sma and for resistance over head I like to have daily 10sma and I will use that. Indicial target area is weekly 20sma as first stronger support area 
Trading plan: 
Entry: $23.90 
Exit: $24.55 
Target area: $22.50 - 20 area 
Type: swing trade







I've decided that I kind of like these guys, I can't link them through my links page or the links on the right side because they are pay for play, but you can sign up for free videos each day in your email box at their site at http://tradingconceptsinc.com/, over on the right side, they give about three ideas each night, not to bad.

On a side note my "MARKET MONITOR" gave a reading today that we have not hit SINCE, TAAAAA DAAAAAAA, May 22nd, just before the big DROP last spring, I hit 1332 stocks that are UP over 4% this week, with like only about 42 that are 4% lower, last May we hit 1322 that were up over 4%, and of course we all know how that ended. "Normal" readings are like 200-400 that are up 4% with like 100-250 down, so this is quite an outlier.
Also, of note, the $NYSI did NOT issue a new buy today, and the $NYAD's did NOT get above the early October highs, so nothing is changed.
Good luck to you out there in LA LA LAND!

TRADE IDEA FOR MONDAY, OCTOBER 14, 2013
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NLSN - long trade
Generally I will look for NLSN monthly buying continuation from 10sma support area after flag setup. That is bigger time frame view. On the daily we can see consolidation and right now third try breakup. After big green bar Friday brought small bar what is continuation pattern and with 3rd try could be good combination for possible good reward. That Friday action we can see on the 60 min time frame triangle and we can see that triangle is tighter and tighter what give us possibility for tighter stop. Third try setup could be very nice and fast, but also if will be false breakout it could be opposite and fast and because of that I don’t want use bigger stop. First resistance will be $38 area and as swing possibility I will look for $40 area, but that’s all depends from chart action and outside risk. Earning date is at October 23th
Trading plan:
Entry:  $37.37
Stop:     $37.10
Target area:  $ 38-39-40
Type:  Day - swing trade


Chartswingtrader.com has posted his video on ideas for the coming week. 



Here's the beeg wiener's in the 80 markets I keep track of, a couple of surprises (to me at least), Nat gas was the big gainer, UNG, and based on the stinking past performance of that piece of junk commodity (you think maybe I had a baaaaaaad, experience, with it in my past?? hahahahahahahaha) you should "probably" short the shit out of it!! The other surprise was our market leader here in the USA, that stoogie old XLU, up 2.6%, just in back of real estate, IYR, our major market winner was XLF, up 1.3%, then the, SURPRISE, DIA, up 1.16%, SPY, with the high beta high flying IWM and QQQ's bringing up the rear, the NasDOG's were actually DOWN on the week a whooping .24%, tied with the TLT.


The loser's were once again any thing with "PRECIOUS" in it, GDX, GLD and SLV, with oil making an appearance, most likely due to the fantastic economic growth we are having.  


Here's the top 20 winner's for the S and P 500 for the week, followed by:


The LOSER'S! Only 156 stocks finished lower on the week so there was over twice as many rising as falling for the week, 366 finished above the 50 DMA and 408 above the 200 DMA.


Despite all the yelling and screaming out of Bubblevision, the $NYSI remains on a SELL signal.


The $NYMO remains on a NOTHING signal.


And I hate to say it, even though the main men, the $NYAD's, went UP this week, IMHO they look even WORSE, as they continue to be in a LAGGING position compared to the SPX, as SPX broke over the early October high, while the NAD's are not even CLOSE to getting over them. I've said it before and I'll say it again, until they get back in a LEADING position relative to the "markets", it's not healthy.

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