Stock Picks Recap for 1/19/12
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, JDSU gapped over, not play.
QCOM triggered long (with market support) and worked enough for an easy partial:
LLTC triggered long (without market support due to opening five minutes) and didn't work:
Same with SNDK:
In the Messenger, Rich's NFLX triggered long (with market support) and worked great:
Rich's YOKU triggered long (with market support) and worked:
AMZN triggered long (with market support) and worked:
In total, that's 4 trades triggering with market support, all 4 worked clean and easy.
Stock Picks Recap for 1/19/12
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, JDSU gapped over, not play.
QCOM triggered long (with market support) and worked enough for an easy partial:
LLTC triggered long (without market support due to opening five minutes) and didn't work:
Same with SNDK:
In the Messenger, Rich's NFLX triggered long (with market support) and worked great:
Rich's YOKU triggered long (with market support) and worked:
AMZN triggered long (with market support) and worked:
In total, that's 4 trades triggering with market support, all 4 worked clean and easy.
Forex Calls Recap for 1/19/12
GBPUSD barely drifted higher but still hasn't stopped us out of our long from yesterday. I've adjusted the stop, see below. Meanwhile, new trade in EURUSD worked, see below.
Here's the US Dollar Index intraday with our market directional tools:
New calls and Chat tonight.
EURUSD:
Set the trigger perfectly at A as discussed in the Lab. Triggered long at B, hit first target at C, raised stop under UBreak entry in the morning and we'll say it stopped at D, although if you staggered your exit per the rules, you should still have some because it only went 3 pips under:
GBPUSD:
Barely 60 pips of range for the night, but we're still long from the other day with a stop now under UBreak:
Tradesight Market Preview for 1/19/12
The ES closed at a new high on the move adding 13 on the day. Price exceeded the +2/8 level and forced a bullish frame shift. The subtle level to keep in mind is the static trend line just above the 6/8 level.
The NQ futures broke to a new high and high close on the move taking on 31 handles. One interesting technical feature is that today’s price filled the open gap from late July. The next bull target will be the 7/8 level at 2437.50.
The 10-day Trin has yet to tag the overbought threshold so there still could be more gas in the tank for higher price.
Multi sector daily chart:
The SOX was by far the strongest sector on the day up a full 5%. Piece topped the 200dma and active static trend line. A bullish trend channel has been added to the chart.
The OSX was also much stronger than the broad market. Keep a close eye on the static trend line just overhead.
The BTK just crossed above the 8/8 level and might need a recharge. Also note that the chart now has a mid-range trend termination candle in place.
The BKX posted a less than stellar inside day. The 8/8 level is still weighing on the advance of the pattern. Price is now wedged between the 200dma and the Murrey level which should produce a powerful move once it’s resolved.
Oil:
Gold:
Tradesight Market Preview for 1/19/12
The ES closed at a new high on the move adding 13 on the day. Price exceeded the +2/8 level and forced a bullish frame shift. The subtle level to keep in mind is the static trend line just above the 6/8 level.
The NQ futures broke to a new high and high close on the move taking on 31 handles. One interesting technical feature is that today’s price filled the open gap from late July. The next bull target will be the 7/8 level at 2437.50.
The 10-day Trin has yet to tag the overbought threshold so there still could be more gas in the tank for higher price.
Multi sector daily chart:
The SOX was by far the strongest sector on the day up a full 5%. Piece topped the 200dma and active static trend line. A bullish trend channel has been added to the chart.
The OSX was also much stronger than the broad market. Keep a close eye on the static trend line just overhead.
The BTK just crossed above the 8/8 level and might need a recharge. Also note that the chart now has a mid-range trend termination candle in place.
The BKX posted a less than stellar inside day. The 8/8 level is still weighing on the advance of the pattern. Price is now wedged between the 200dma and the Murrey level which should produce a powerful move once it’s resolved.
Oil:
Gold:
Stock Picks Recap for 1/18/12
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, TTMI triggered long (with market support) and held in the money but never went enough for a partial, so we won't count it either way:
CRZO triggered short (without market support due to opening five minutes) and spiked enough for a partial but that's it:
In the Messenger, Rich's POT triggered short (without market support) and didn't work:
His BIDU triggered short (without market support) and worked:
AIG triggered short (without market support) and worked enough for a partial:
Rich's VMW triggered short (without market support) and didn't work:
AMGN triggered long (with market support) and worked:
NTAP triggered long (with market support) and worked:
FSLR triggered long (with market support) and worked:
Rich's PSMT triggered long (with market support) and worked enough for a partial:
NFLX triggered long (with market support) and worked:
In total, that's 5 trades triggering with market support, all 5 of them worked.
Forex Calls Recap for 11/18/12
A loser and a winner that is still in play. See GBPUSD below. New calls and Chat tonight, but half size for me with CPI in the morning. Also, we have options expiration on Friday.
Here's a look at the US Dollar Index intraday with our market directional lines:
GBPUSD:
Triggered long overnight at A and stopped. Put them back in in the morning, triggered long at B, hit first target at C, still holding second half with a stop under R1:
Tradesight Market Preview for 1/18/12
The ES posted a range high distribution candle. Price was little changed on the day after a strong opening gap. This is a camouflage sell signal which is particularly concerning to the bulls since it’s at the high water mark of the rally that started last year.
The NQ futures posted a wide range doji. Price remains below the static trend line set back in July. The market was bifurcated with strength in the NQ vs. ES so watch this relationship carefully on Wednesday.
The 10-day Trin has come in substantially but has yet to hit an overbought reading of 0.85 or less.
Multi sector daily chart:
The NDX has yet to confirm the higher high in the SPX. A confirmation of this would be very positive for the overall market and failure would be a divergence in this new school Dow theory pair.
The OSX has yet to get in gear with the higher crude prices which implies that there is still a pretty hefty premium in the futures.
The XOI was the top gun on the day but remains trapped in the bearish rising wedge pattern.
The OIH was positive on the day and had relative strength vs. the broad market. The active static trend line is the current resistance level.
The BTK was unchanged on the day after touching the 200dma. This is a very important level of resistance where the 200dma converges with the 8/8 Gann level.
The BKX interacted with the 8/8 level and didn’t fare well. Initial support will be at the rising 10ema.
The XAU was the last laggard on the day and remains in a very wide ranging down trend.
Tradesight Market Preview for 1/18/12
The ES posted a range high distribution candle. Price was little changed on the day after a strong opening gap. This is a camouflage sell signal which is particularly concerning to the bulls since it’s at the high water mark of the rally that started last year.
The NQ futures posted a wide range doji. Price remains below the static trend line set back in July. The market was bifurcated with strength in the NQ vs. ES so watch this relationship carefully on Wednesday.
The 10-day Trin has come in substantially but has yet to hit an overbought reading of 0.85 or less.
Multi sector daily chart:
The NDX has yet to confirm the higher high in the SPX. A confirmation of this would be very positive for the overall market and failure would be a divergence in this new school Dow theory pair.
The OSX has yet to get in gear with the higher crude prices which implies that there is still a pretty hefty premium in the futures.
The XOI was the top gun on the day but remains trapped in the bearish rising wedge pattern.
The OIH was positive on the day and had relative strength vs. the broad market. The active static trend line is the current resistance level.
The BTK was unchanged on the day after touching the 200dma. This is a very important level of resistance where the 200dma converges with the 8/8 Gann level.
The BKX interacted with the 8/8 level and didn’t fare well. Initial support will be at the rising 10ema.
The XAU was the last laggard on the day and remains in a very wide ranging down trend.
Stock Picks Recap for 1/17/12
With each stock's recap, we will include a (with market support) or (without market support) tag, designating whether the trade triggered with or without market directional support at the time. Anything in the first five minutes will be considered WITHOUT market support because market direction cannot be determined that early.
From the report, CTCT triggered long (with market support) and worked:
ACXM gapped over the trigger, no play.
In the Messenger, Rich's JPM triggered long (with market support) and worked enough for a partial:
His SHLD triggered long (with market support) and worked great:
His FSLR triggered short (with market support) and didn't work:
AMZN triggered long (without market support) and worked:
Rich's FFIV triggered short (with market support) and didn't work:
TEVA triggered short (with market support) and didn't work:
Rich's SINA triggered short (with market support) and worked enough for a partial:
His MNST triggered short (with market support) and didn't work:
His PANL triggered short (with market support) and worked:
His WYNN triggered short (without market support) and didn't work:
In total, that's 9 trades triggering with market support, 5 of them worked, 4 did not.