Stock Picks Recap 11/9/11
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, PWRD gapped under the short trigger, no play. Nothing triggered.
In the Messenger, Rich's GOOG triggered long (without market support) and worked:
AMZN triggered short (with market support) and worked:
Rich's GS triggered short (with market support) and worked:
COST triggered short (with market support) and didn't work:
Rich's AGU triggered short (with market support) and worked enough for a partial:
BIDU triggered long (with market support) and didn't work:
Rich's FFIV triggered short (with market support) and worked great:
Rich's SINA triggered short (with market support) and worked:
His MDVN triggered short (with market support) and worked:
His DOX triggered long (without market support) and worked enough for a partial:
AAPL triggered short (with market support) and worked:
In total, that's 9 trades triggering with market support, 7 of them worked, 2 did not.
Stock Picks Recap 11/9/11
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, PWRD gapped under the short trigger, no play. Nothing triggered.
In the Messenger, Rich's GOOG triggered long (without market support) and worked:
AMZN triggered short (with market support) and worked:
Rich's GS triggered short (with market support) and worked:
COST triggered short (with market support) and didn't work:
Rich's AGU triggered short (with market support) and worked enough for a partial:
BIDU triggered long (with market support) and didn't work:
Rich's FFIV triggered short (with market support) and worked great:
Rich's SINA triggered short (with market support) and worked:
His MDVN triggered short (with market support) and worked:
His DOX triggered long (without market support) and worked enough for a partial:
AAPL triggered short (with market support) and worked:
In total, that's 9 trades triggering with market support, 7 of them worked, 2 did not.
Tradesight Market Preview for 11/10/11
The ES broke hard feeling the pressure from the extreme put/call reading on Monday. Price broke below the 1233 support area and settled below the 10ema. Depending on how this ultimately works out on the chart this candle could be a notable lower high.
The NQ futures were lower by 83 on the day but still above the key 200dma. Keep a close eye on how price interacts with the lower channel boundary around 2275.
The multi sector daily chart shows real relative weakness developing in the BTK.
The NYSE Trin closed at 6.66 which is extreme but so high that the door is open to taking out Wednesday’s low on Thursday. The 10-day Trin is now oversold at 1.63.
The BTK was the best of the worst, only slightly expanding the recent downside range.
The defensive BTK was in line with the market settling right at the key 200 and 50dma’s.
The SOX was weaker than the broad market and Naz down 4.6%. Key support should be found at the 371 area.
The OSX was down more than 5% and has more down side room before real support at 210.
The BKX was down almost 6% with key support at 38, a loss of this level could put the prior lows back in play if the MACD picks up momentum.
The Broker-dealer index was the weakest sector on the day. The MACD has crossed over and a break below the zero line would be very bearish.
Gold was lower on the day, repelled by the 1800 level.
Oil posted an outside day even after bullish inventory data.
Forex Calls Recap for 11/9/11
There's a nice session with a huge winner still running, currently over 220 pips. See EURUSD below.
Here's the US Dollar Index intraday with our market directional lines:
New calls and Chat tonight.
EURUSD:
Triggered short at A, hit first target at B, lowered stop several times and currently have stop over black line at C:
Stock Picks Recap for 11/8/11
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, NDAQ triggered long (with market support) and didn't work:
In the Messenger, Rich's GMCR triggered short (without market support due to opening five minutes) and worked:
His SINA triggered short (without market support) and didn't work:
His AMZN triggered short (with market support) and worked:
AIG triggered long (with market support) and didn't work:
Rich's RGLD triggered long (with market support) and worked enough for a partial:
NFLX triggered short (with market support) and worked:
Rich's GS triggered long (with market support) and worked:
AAPL triggered long (with market support) and didn't work initially, although I retook it in the room late:
In total, that's 7 trades triggering with market support, 4 of them worked, 3 did not.
Stock Picks Recap for 11/8/11
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, NDAQ triggered long (with market support) and didn't work:
In the Messenger, Rich's GMCR triggered short (without market support due to opening five minutes) and worked:
His SINA triggered short (without market support) and didn't work:
His AMZN triggered short (with market support) and worked:
AIG triggered long (with market support) and didn't work:
Rich's RGLD triggered long (with market support) and worked enough for a partial:
NFLX triggered short (with market support) and worked:
Rich's GS triggered long (with market support) and worked:
AAPL triggered long (with market support) and didn't work initially, although I retook it in the room late:
In total, that's 7 trades triggering with market support, 4 of them worked, 3 did not.
Tradesight Market Preview for 11/9/11
The ES settled above the 200dma with a gain of 15 on the day. The testing of this key level continues and is likely not done yet.
The NQ futures gained 25 on the day almost matching the high close of the move to date. The Seeker countdown is now 7 days up.
The 10-day Trin settled almost neural at 1.05.
Multi sector daily chart:
The BKX was the top gun on the day but remains below the 43 breakout level.
The OSX was stronger than the broad market and just below the neckline of the reverse head and shoulders pattern.
The SOX was weaker than the NDX and staging just under the 50% fib level.
The BTK traded inside yesterday’s candle but is posting some nice bottoming tails.
The XAU was a source of funds but bullishly held above the midpoint of Monday’s range.
Gold was a little higher on the day just under the key 1800 level.
Oil qualified the 200dma breakout by expanding yesterday’s range. The active static trend line and 8/8 Gann level are the next area of interest.
Forex Calls Recap for 11/8/11
A winner and a loser in another not-so-stellar session. See EURUSD and GBPUSD below.
Here's the US Dollar Index intraday with our market directional tool:
EURUSD:
Triggered short at A and stopped:
GBPUSD:
Triggered long at A, hit first target at B, stopped second half under entry at C (just barely):
Tradesight Market Preview for 11/8/11
The ES posted and odd candle to begin the week. It opened in the area of the 1250 4/8 Gann level, then tanked near Friday’s low, reversed and settled HOD. While trade this week will likely be lower volume because of the quasi holiday. Note the gap overhead that is the door to the 200dma at 1269.
The NQ futures were higher by 19 on the day and still have relative strength vs. the ES side of the market. The static trend line at 2414 is the near term trade-to-target.
The 10-day Trin is still a little oversold:
The put/call ratio closed at 0.53 which strongly favors the short side of the tape on Tuesday. This is a very extreme reading.
Crude futures are leading the OSX right now which is generally bearish and implies that oil will follow the underlying stocks and turn lower.
The SOX continues to bearishly underperform the NDX.
The XAU and gold futures are trading in lockstep so there is nothing special happening here.
The XAU was by far the strongest sector on the day up 3%. The next important price level is the active static trend line (green).
The BKX is still in last week’s range. The broken DTL is still dominating price action.
The OSX traded in line with the market, nothing new technically.
The SOX was inside of Friday’s range and was relatively weak vs. the Naz.
The BTK was very weak and the last laggard on the day, hobbled by the overweighting of VRTX in the index.
Gold was very strong up 41 on the day. Note the key overhead at 1800.
Oil settled above the 200dma for the first time since July..
Stock Picks Recap for 11/7/11
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, only PLCM triggered long (without market support due to opening five minutes) and worked, also worked later with market support:
In the Messenger, Rich's INHX triggered long (with market support) and didn't work:
His SINA triggered long (with market support) and didn't work:
GS triggered long (without market support) and didn't work:
GOOG triggered long (with market support) and worked huge:
Rich's PCLN triggered short (with market support) and worked huge:
His LVS triggered short (with market support) and worked:
His CHK triggered short (with market support) and worked:
EBAY triggered short (with market support) and didn't work:
AMGN triggered short (with market support) and didn't work:
TEVA triggered long (with market support) and worked:
NFLX triggered short (without market support) and worked enough for a partial:
In total, that's 9 trades triggering with market support, 5 of them worked, 4 did not.