Stock Picks Recap for 9/21/11
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, VRTX triggered long (without market support) and worked great:
SOHU triggered short (with market support) and worked:
PTEN triggered short (with market support) and worked:
JVA triggered short (with market support) and worked:
In the Messenger, Rich's AAPL triggered short (without market support due to opening five minutes) and didn't work:
His GS triggered short (without market support due to opening five minutes) and worked great:
His NUVA triggered short (with market support) very late in the day, too late to do anything either way:
His MS triggered short (with market support) and worked:
GS triggered short (with market support) and worked although I gave up on it:
In total, that's 5 trades triggering with market support, all 5 of them worked.
Forex Calls Recap for 9/21/11
Strange action, and the US Dollar got stronger after the Fed announcement. Triggers in both the GBPUSD and EURUSD, see below.
Here's the US Dollar Index intraday with market directional lines:
New calls and Chat tonight.
EURUSD:
Amazing how these levels get used. If you follow our order staggering, part of the long trade triggered at A and stopped at B. Interestingly, the same exact price hit at C, so part of the trade might have triggered and stopped, but the rest triggered after that, hit first target at D, stopped under entry at E:
GBPUSD:
Meanwhile, a clean trade here, triggered short at A, hit first target at B, and lowered stop in the morning and stopped at C for almost 100 pips:
Tradesight Market Preview for 9/22/11
The SP hemorrhaged a full 40 handles most of which coming after the Fed announced “operation twist” that was greeted by the market with a Bronx cheer. Price is back below the lower channel boundary. Note that on the Seeker this was a fresh price flip to the downside.
Naz lost 51 on the day and is in much better technical condition than the broad market. But things can change fast. The CCI has recorded a lower high and a downturn from here could get momentum rolling to the downside.
The 10-day Trin got a hard pop because of the high reading from today’s close. Wednesday, the Trin closed at 3.92 which favors a gap up Thursday morning.
The OSX is lagging oil futures which is generally bearish for oil prices.
The SOX is bearishly lagging the NDX:
The BTK is still within the same pattern.
The SOX remains in the same downtrend. Next support is the channel midpoint or 360.
The XAU settled at the week’s low and the 50dma.
The OSX got bombed down 4.5% and broke down through the triangle pattern. The next important area is the August low around 211.
The BKX collapsed 5.5% and is threatening to break to new lows on the year. The only bullish conciliation is that price did not record a new low close and recorded a Seeker 13 exhaustion buy signal.
Tradesight Market Preview for 9/22/11
The SP hemorrhaged a full 40 handles most of which coming after the Fed announced “operation twist” that was greeted by the market with a Bronx cheer. Price is back below the lower channel boundary. Note that on the Seeker this was a fresh price flip to the downside.
Naz lost 51 on the day and is in much better technical condition than the broad market. But things can change fast. The CCI has recorded a lower high and a downturn from here could get momentum rolling to the downside.
The 10-day Trin got a hard pop because of the high reading from today’s close. Wednesday, the Trin closed at 3.92 which favors a gap up Thursday morning.
The OSX is lagging oil futures which is generally bearish for oil prices.
The SOX is bearishly lagging the NDX:
The BTK is still within the same pattern.
The SOX remains in the same downtrend. Next support is the channel midpoint or 360.
The XAU settled at the week’s low and the 50dma.
The OSX got bombed down 4.5% and broke down through the triangle pattern. The next important area is the August low around 211.
The BKX collapsed 5.5% and is threatening to break to new lows on the year. The only bullish conciliation is that price did not record a new low close and recorded a Seeker 13 exhaustion buy signal.
Stock Picks Recap for 9/20/11
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, FAST triggered long (with market support) and worked great:
OVTI triggered short (without market support) and worked great:
SREV triggered short (without market support) and didn't work:
In the Messenger, SINA triggered short (without market support) didn't work the first time, worked huge the second:
NTAP triggered short (without market support) and worked:
Rich's MCP triggered short (with market support) and worked:
His OPEN triggered short (with market support) and worked:
His IBM triggered long (with market support) and didn't work:
AIG triggered long (with market support) and didn't work:
In total, that's 5 trades triggering with market support, 3 of them worked, 2 did not.
Stock Picks Recap for 9/20/11
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, FAST triggered long (with market support) and worked great:
OVTI triggered short (without market support) and worked great:
SREV triggered short (without market support) and didn't work:
In the Messenger, SINA triggered short (without market support) didn't work the first time, worked huge the second:
NTAP triggered short (without market support) and worked:
Rich's MCP triggered short (with market support) and worked:
His OPEN triggered short (with market support) and worked:
His IBM triggered long (with market support) and didn't work:
AIG triggered long (with market support) and didn't work:
In total, that's 5 trades triggering with market support, 3 of them worked, 2 did not.
Tradesight Market Preview for 9/21/11
The SP put in a distribution day where it gapped up but closed on the low of the day. Note that price almost tested the declining the 50dma.
Naz was lower by 4 on the day and put in an ugly range high distribution candle. Price traded above the upper channel but was completely rejected. A held trade under Tuesday’s low should be respected and traders then should start to overweight the short side.
Multi sector daily chart:
The 10-day Trin has just broken back into the neutral area after spending a week above the oversold threshold.
The defensive XAU was the top gun on the day up more than 2%.
The BTK was the only major Naz sector higher on the day. The pattern is getting very close to its apex.
The BKX is still potentially one candle away from a Seeker exhaustion buy.
The OSX continues to muddle in the same pattern. The oil service stocks were weaker than the broad market.
The SOX was weaker than the Naz and is still finding resistance at the upper channel. The 360 area would be a very likely retracement target.
Gold was higher but basically inside the prior day’s range.
Oil traded inside and could be just resting for a bigger move later in the week. Wednesday is the weekly government inventory data.
Tradesight Market Preview for 9/21/11
The SP put in a distribution day where it gapped up but closed on the low of the day. Note that price almost tested the declining the 50dma.
Naz was lower by 4 on the day and put in an ugly range high distribution candle. Price traded above the upper channel but was completely rejected. A held trade under Tuesday’s low should be respected and traders then should start to overweight the short side.
Multi sector daily chart:
The 10-day Trin has just broken back into the neutral area after spending a week above the oversold threshold.
The defensive XAU was the top gun on the day up more than 2%.
The BTK was the only major Naz sector higher on the day. The pattern is getting very close to its apex.
The BKX is still potentially one candle away from a Seeker exhaustion buy.
The OSX continues to muddle in the same pattern. The oil service stocks were weaker than the broad market.
The SOX was weaker than the Naz and is still finding resistance at the upper channel. The 360 area would be a very likely retracement target.
Gold was higher but basically inside the prior day’s range.
Oil traded inside and could be just resting for a bigger move later in the week. Wednesday is the weekly government inventory data.
Forex Calls Recap for 9/20/11
Interesting session again. Two winners in EURUSD, but one went so early that we don't officially count it (before Asian session start). See below for both, and in the end, we went nowhere and ranges were narrow.
US Dollar Index intraday with market directional lines:
New calls and Chat this evening.
EURUSD:
Triggered short at A very early on news out of Europe, hit first target at B if you took it. The call that counts was the additional call made for the European session, which was a Value Area play and worked perfectly from the entry at C to the first target and Value Area High at D, raised stop in the morning and stopped final piece at E:
Stock Picks Recap for 9/19/11
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.
Neither call off of the main report triggered (one hit the trigger exactly).
In the Messenger, Rich's CF triggered short (with market support) and didn't work:
AAPL triggered long (without market support at the time) and worked huge:
BIIB triggered short (with market support) and didn't work:
Rich's SHLD triggered short (with market support) and worked enough for a partial:
FSLR triggered long (with market support) and worked:
In total, that's 4 trades triggering with market support, 2 of them worked, 2 did not.