Thursday, October 24, 2013


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LPX - long trade
LPX consolidate under weekly 50sma, under monthly 10sma and for daily triangle not far from 200sma resistance area. Usually consolidation under resistance will result with breakout and that is what I will look for. There is some room until daily 200sma and that will be first LPX test, but if pace will be good, bigger time frame charts suggest that we could see more, so target will depends on action before that.LPX need to stay above 200sma 60 min and my stop will be under.
Trading plan:
Entry:  $18.03
Stop:     $17.50
Target area:  $ 20 area
Type:  swing trade

GLW shares are up 25% in the after hours tonight, about where the red circle is at $18+, after buying out Samsung in their LCD deal, pre-announcing earnings and announcing a stock buy back.
NOW, nothing is for certain of course, especially in this stupid market, but they are clearing former resistance and are into an "Air Pocket", the green box, which, SHOULD, provide NO resistance back up to the high it made in 2011.
Just an idea, like I said, who knows, look what that stupid AA did today just on SPECULATION  that aluminum prices MIGHT rise, hahahahahahahaha!

Say what you want about Charlie Biderman, but his Trim Tabs Float Shrink fund has been a HUGE success. Speaking of Charlie, he's out with another video today about "THE BIG LIE", IE, the stinking government, THE BIG LIE

Mellisa Lee turned chart technician on Fast Money tonight, talking about the infamous "Bearish Engulfing" candle on NFLX today, then Josh Brown did a lecture on it, the reason I don't say any thing about charts any more, is because for the last five years, THEY DON'T FRICKING WORK!!!!!!!!!!
That chart is a weekly for just two years, but it has four infamous "BEARISH ENGULFING BARS" on it, and TWO of the four were GREAT buying opportunities, while the ones that did work resulted in a MASSIVE three or four percent pull back.
Wad ever, sigh, maybe NFLX is different and it will actually work.

The "markets" had one of "those" days today, stocks, bonds and the VIX ALL went up, while the dollar went DOWN while at the same time oil got CRUSHED, hahahahahaha, at least gold acted right as it was flying on anticipation of more easing out of Yell'in, sigh, Da Street was buying stocks as the shitty jobs report will keep the FED pumping tax payer sponsered fake dollars into them buying their shit MBS's that will eventually be the responsibility of that same tax payer, while the bond, VIX and oil guys were all buying and selling based on fear's of a slowing economy. SINCE WHEN DID THAT MATTER???? Another interesting thing is that the $TRIN has closed ABOVE 1 the last four days during this "rally", meaning, SOME ONE, is doing some heavy selling into it, it even hit 2 during Friday and today, sigh, just all good stuff it is.

Speaking of Alkie, AA, some one was talking about the wonderful five year BASE it has, well, yea, it has a nice base, but it's ass backwards, you don't want to see it go up like it did 10' and 11' and come back down, you want a rounded bottom or some such thing.
Wad ever, that's not what I wanted to mention, what I wanted to mention was WHY YOU USE FRICKING STOPS!!!!!!!!!!!!! It basically went from $40 to where it sits now in SIX STINKING MONTHS in 08', and has not recovered. Yeeeaaaaaaaa, that's why you use stops, or in my case I use options so I know how much I'll lose.

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CSE – long trade
CSE formed weekly continuation pattern and odds for daily 10sma bounce action. On the 60 min triangle we can see that resistance become support now and I will sue it for stop. Little problem with CSE is earning report before October23th and because of that I will look for possible day-two run. It is always risky to stay in trade in to earning report but depends on action maybe I will try with partials.
Trading plan:
Entry:  $12.80
Stop:     $12.64
Target area:  $13.25-13.50 area
Type:  day - swing trade

TJX - long trade
I still like 60 min triangle pattern and consolidation at high. TJX need to stay above 60 min 20sma to stay valid and I will use for stop. Still have room for $60 area with good breakup pace. If TJX will break under 60min 20sma support then very possible we will see daily correction and then I will watch again near daily support for possible bounce
Trading plan:
Entry:  $57.83
Exit:     $57.40
Target area:  $60 area  
Type:  day - swing trade

PACW – long trade
PACW setup is similar with CSE setup just have more time for earning report and possible swing run. I will also use 60 min consolidation for stop and weekly continuation pattern for entry. If PCAW will see first pull back on the 60 min time frame to 20sma support then I will look for bounce possibility and swing idea will stay. On that way I’m trying to increase reward possibility.
Trading plan:
Entry:  $37.15
Stop:     $36.85
Target area:  $40 area
Type:  swing trade

Good Trading!
Ivica Juracic

1 Comment:

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