Stock Picks Recap for 11/2/11
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, ENOC triggered long (without market support due to opening five minutes) and worked if you were able to get any:
INCY triggered short (with market support) and worked enough for a partial:
In the Messenger, Rich's OPEN triggered long (without market support due to opening five minutes) and worked enough for a partial if you got any:
His CECO triggered short (with market support) and worked:
GOOG triggered long (without market support) and worked for a couple of points:
Rich's DMND triggered short (with market support) and worked enough for a partial:
His LULU triggered short (with market support) and didn't work:
GS triggered short (with market support) and worked:
AMZN triggered long (with market support) and worked:
Rich's CF triggered long (with market support) and worked some, no risk:
His TEVA triggered long (with market support) and worked a little, no risk:
His MA triggered short (with market support) and worked:
In total, that's 9 trades triggering with market support, 8 of them worked, 1 did not. A lot of them were very flat with small gains before doing nothing else in a dead market.
Forex Calls Recap for 11/2/11
Half size night ahead of the Fed, but a winner in the GBPUSD. See EURUSD and GBPUSD below.
New calls and Chat tonight. Back to normal size.
Here was the US Dollar Index intraday with market directional lines:
EURUSD:
This was a half size night, but there was a short trigger on the EURUSD before the Asian session even started, which would have been quarter size under our rules if you even took it that early. Triggered short at A, came within five pips of first target, and stopped:
GBPUSD:
Triggered long at A but gave you until the European session open at B to get in without ever stopping. Hit first target at C, closed final piece at D:
Tradesight Market Preview for 11/3/11
The ES bounced back 10 handles on the day, most of which came on gap. This leaves the larger overhead gap still open and price below the 10ema. Note that the MACD is close to a bearish cross.
NQ futures were higher by 11 but closed below the open which is a slight negative. The 200dma is still near-term support.
Multi sector daily chart:
The Dow/gold ratio is still hugging the long-term trend line.
The BKX was the top gun on the day. Price is still below the key 40 level and the MACD looks tired.
The OSX traded inside yesterday’s range and was stronger than the broad market. No change to the potential reverse H&S pattern.
The XAU tested the 200dma and is now 7 days up.
The SOX posted a relatively weak day underperforming the NDX. Reclamation of the September highs would turn the chart back to short term positive.
The BTK was the last laggard on the day and settled exactly at the midpoint of the range.
Gold was higher by 30 on the day:
Oil is still boxed up in the recent range and trapped below the 200dma
Tradesight Market Preview for 11/3/11
The ES bounced back 10 handles on the day, most of which came on gap. This leaves the larger overhead gap still open and price below the 10ema. Note that the MACD is close to a bearish cross.
NQ futures were higher by 11 but closed below the open which is a slight negative. The 200dma is still near-term support.
Multi sector daily chart:
The Dow/gold ratio is still hugging the long-term trend line.
The BKX was the top gun on the day. Price is still below the key 40 level and the MACD looks tired.
The OSX traded inside yesterday’s range and was stronger than the broad market. No change to the potential reverse H&S pattern.
The XAU tested the 200dma and is now 7 days up.
The SOX posted a relatively weak day underperforming the NDX. Reclamation of the September highs would turn the chart back to short term positive.
The BTK was the last laggard on the day and settled exactly at the midpoint of the range.
Gold was higher by 30 on the day:
Oil is still boxed up in the recent range and trapped below the 200dma
Tradesight Market Preview for 11/2/11
The ES gapped down back into the trading range that it just exited and settled right at the high close of the range. This was a very interesting day and posted a camouflage buy signal. This implies that price will exceed Tuesday’s range before undercutting it.
The NQ futures tested but held the 200dma losing 52 on the day. The next important area of support is the 4/8 Gann level that is also the 50dma and lower trend channel boundary. This is THE area for the bulls to hold.
Multi sector daily chart:
The put/call ratio recorded a spike:
The 10-day Trin is back above the 1.35 oversold threshold.
The defensive XAU was the top gun on the day.
The BTK held above the midpoint of the recent range but lost the 50dma. Keep a close eye on the MACD.
The SOX left a floating island above the September high. This is potentially very bearish but could be reconciled. This will be a very key sector in the next few days since it’s non-financial and should offer traders a pure appraisal of market risk appetite.
The OSX was weaker than the broad market and has key support at 210. This could be forming a reverse head and shoulders pattern which implies that the 210 area is buyable.
The BKX got hammered and was much weaker than the SPX. Price is bearishly back below the trend channel. Keep a close eye on the 50dma which is key near-term support.
Gold was weaker on the day but recouped much steeper losses.
Oil is still trapped in the recent range.
Stock Picks Recap for 11/1/11
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, RIMM triggered short (without market support) and worked enough for a partial:
In the Messenger, Rich's WYNN triggered long (with market support) and worked:
His AAPL triggered long (without market support due to opening five minutes) and didn't work:
His BIDU triggered long (with market support) and worked:
AMZN triggered long (with market support) and worked:
GOOG triggered long (with market support) and worked:
FSLR triggered long (with market support) and worked enough for a partial:
Rich's LVS triggered long (with market support) and didn't work:
His UA triggered short (with market support) and didn't work:
NFLX triggered long (with market support) and worked enough for a partial:
Rich's GS triggered long (with market support) and didn't work:
TEVA triggered short (with market support) and worked:
In total, that's 10 trades triggering with market support, 7 of them worked, 3 did not.
Forex Calls Recap for 11/1/11
Another nice winner to officially close out the month of October. See GBPUSD below, which behaved perfectly technically. Here's the US Dollar Index intraday with our market directional lines:
New calls and Chat tonight, but half size for me ahead of the Fed announcement tomorrow.
GBPUSD:
Triggered short at A, gave you all the way to B to take it, hit first target at C, lowered stop in the morning and stopped final piece at D for 100 pips:
Tradesight Market Preview for 11/1/11
The ES gapped below the 200dma and then lost more ground to close on the lows down 32 on the day. Price is still above the 10ema and as long as it remains so is still short-term bullish. One bearish feature was that price settled below the low closes of both March and June 2011.
The NQ futures settled right at the midpoint of the trend channel and also above the 10ema. Keep a close eye on the active static trend line which continues to be bull repellent.
A funny thing happened on the way to the best performing October in decades…….it moves so fast that the 10-day Trin never had a chance to record an overbought reading! The NYSE Trin is closer to an oversold rather than overbought reading. Good news for the bulls.
The put/call ratio is neutral.
Multi sector daily chart:
The Dow Transports rallied exactly to the prior breakdown and 200dma and found failure. This is not unusual and doesn’t mean that the advance has terminated it is typical of price action that is extended and testing a major level.
The SOX declined back to the September high. This is key near-term support.
The XAU is midrange and otherwise featureless.
The BKX was much weaker than the broad market and retreated back to the very important 40 level. It is very important for this leading index to hold the 38 level. If this cannel low is lost the market is truly sick and heading lower.
The OSX is still working in a very complex pattern. The most important part of the puzzle will be taking out the down sloping overhead DTL.
Gold was a little lower on the day. Look to the live angle to hold price in the very short term.
Oil is trapped between the 200dma and the 4/8 Gann level.
Stock Picks Recap for 10/31/11
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.
We only had long ideas in the report, so nothing triggered there.
In the Messenger, Rich's SINA triggered short (with market support) and worked:
GOOG triggered long (with market support) and worked:
Rich's GS triggered short (with market support) and worked:
His MS triggered short (with market support) and worked:
COST triggered short (with market support) and worked:
In total, that's 5 trades triggering with market support, all 5 of them worked great.
Forex Calls Recap for 10/31/11
Another nice winner to start the week, see GBPUSD below. New calls and Chat this evening. Other than the move we caught, it was a fairly slow session with the snow issues back East.
Here is the US Dollar Index intraday with market directional lines:
GBPUSD:
Triggered short at A, hit first target at B, lowered stop and locked in about 80 pips to the final exit at C:
