Stock Picks Recap for 8/26/11
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, MDVN triggered short (with market support) and didn't work:
QLIK gapped under the trigger, no play.
In the Messenger, TEVA triggered short (with market support) and didn't work:
AMZN triggered short (with market support) and didn't work:
AAPL triggered long (with market support) and worked:
EBAY triggered long (with market support) and worked:
SINA triggered long (with market support) and worked enough for a partial:
In total, that's 6 trades triggering with market support, 3 of them worked, 3 did not.
Forex Calls Recap for 8/26/11
A LOT of triggers for the session, all in the EURUSD, and more than usual (four total). As expected, the long play, which was set up nicer worked better. See below and also check out the USDJPY review for the Value Area play there that was so wide open.
As usual on the Sunday report, we will take a look at the action from Thursday night/Friday, then look at the daily charts heading into the new week, and then look at the US Dollar Index, this week with a bit of an extended discussion.
Here's the Index intraday with our market directional lines:
Calls resume Sunday. We have a full week next week, which is often considered the "end of summer" week heading into Labor Day. Should be light especially at the end of the week and then we will see when things pick up again after Labor Day.
EURUSD:
Crazy stuff. Triggered long at A, hit first target at B, raised stop under entry, stopped at C. Bernanke's comments got the market moving in "news" fashion and it triggered short at D, just barely, and stopped immediately, then went again right after on the short side, went a little farther but not enough, and stopped. Triggered long at E again, hit first target at F, closed final at G to end the week:
USDJPY:
Nice Value Area from A to B:
Forex Calls Recap for 8/26/11
A LOT of triggers for the session, all in the EURUSD, and more than usual (four total). As expected, the long play, which was set up nicer worked better. See below and also check out the USDJPY review for the Value Area play there that was so wide open.
As usual on the Sunday report, we will take a look at the action from Thursday night/Friday, then look at the daily charts heading into the new week, and then look at the US Dollar Index, this week with a bit of an extended discussion.
Here's the Index intraday with our market directional lines:
Calls resume Sunday. We have a full week next week, which is often considered the "end of summer" week heading into Labor Day. Should be light especially at the end of the week and then we will see when things pick up again after Labor Day.
EURUSD:
Crazy stuff. Triggered long at A, hit first target at B, raised stop under entry, stopped at C. Bernanke's comments got the market moving in "news" fashion and it triggered short at D, just barely, and stopped immediately, then went again right after on the short side, went a little farther but not enough, and stopped. Triggered long at E again, hit first target at F, closed final at G to end the week:
USDJPY:
Nice Value Area from A to B:
Stock Picks Recap for 8/25/11
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, ALXN triggered long (without market support due to opening five minutes) and didn't work:
In the Messenger, Rich's AAPL triggered long (without market support) and worked:
AIG triggered short (with market support) and worked:
Rich's GOOG triggered short (with market support) and worked huge:
Rich's DECK triggered short (with market support) and worked enough for a partial:
Rich's LULU triggered short (with market support) and worked enough for a partial, though it was fast:
Rich's NFLX triggered short (with market support) and didn't work, although it went later:
In total, that's 5 trades triggering with market support, 4 of them worked, 1 did not.
Forex Calls Recap 8/25/11
Another mixed session that didn't go far on the US Dollar Index. See EURUSD and GBPUSD below for summaries, as we closed out a nice winner on the GBPUSD from the prior session.
New calls and Chat tonight. Here's the US Dollar Index intraday with market directional lines:
EURUSD:
Triggered short at A, came within 3 pips of first target at B, so whehter you got a leg off depends on how you stagger your orders. I closed it at the entry at C:
GBPUSD:
Stopped out of last piece of short from prior session at A for about a 100 pip winner. This was also the long trigger for the session, which stopped:
Stock Picks Recap for 8/24/11
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, ERTS triggered long (with market support) and didn't work:
MDRX triggered long (with market support) and worked enough for a partial:
In the Messenger, GOOG triggered long (with market support) and didn't work initially, although it did right after:
GS triggered long (with market support) and worked:
FSLR triggered short (with market support) and worked:
MON triggered long (with market support) in the afternoon and worked:
EOG triggered long (with market support) and worked:
TEVA triggered long (with market support) and worked:
NFLX triggered long (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 8/25/11
The SP added 13 to yesterday’s reversal attempt. Price settled back above the 10ema and has a trade-to-target at the 1190 open gap.
The Naz was higher 15 on the day with a next target of 2175 that would fill the 8/18/11 gap.
Multi sector daily chart:
The BKX was top gun, up 3%, settling back above the 0/8 Gann level. The real test for the financials will be the getting back into an ultimately above the price channel.
The OSX was only slightly higher on the day. Note that price is still below the 10ema and there has been no crossover by the MACD.
The BTK still has more work to do before exiting the triangle pattern.
SOX was unchanged but at a critical area. Set an alarm for a break over Wednesday’s high of 348.68. Getting over this level also puts the trend channel back in play.
The XAU was the last laggard on the day, down 2%. This was fueled by the sharp downside follow through in gold that took the futures down $100 on the day.
Fibonacci retracements have been added to the gold chart. Note how the 0.618 was a key acceleration point. This should add importance on the way down as support.
Oil did very little on the day. Note the pattern that is being traced out on the daily.
Tradesight Market Preview for 8/25/11
The SP added 13 to yesterday’s reversal attempt. Price settled back above the 10ema and has a trade-to-target at the 1190 open gap.
The Naz was higher 15 on the day with a next target of 2175 that would fill the 8/18/11 gap.
Multi sector daily chart:
The BKX was top gun, up 3%, settling back above the 0/8 Gann level. The real test for the financials will be the getting back into an ultimately above the price channel.
The OSX was only slightly higher on the day. Note that price is still below the 10ema and there has been no crossover by the MACD.
The BTK still has more work to do before exiting the triangle pattern.
SOX was unchanged but at a critical area. Set an alarm for a break over Wednesday’s high of 348.68. Getting over this level also puts the trend channel back in play.
The XAU was the last laggard on the day, down 2%. This was fueled by the sharp downside follow through in gold that took the futures down $100 on the day.
Fibonacci retracements have been added to the gold chart. Note how the 0.618 was a key acceleration point. This should add importance on the way down as support.
Oil did very little on the day. Note the pattern that is being traced out on the daily.
Forex Calls Recap for 8/24/11
Losers on the EURUSD but a nice winner still running on the GBPUSD, see both below. Here's the US Dollar Index intraday with market directional:
New calls and Chat tonight.
EURUSD:
Triggered long at A and stopped. Put it back in in the morning, triggered long at B and stopped:
GBPUSD:
Clean triggered short at A, hit first target at B, lowered stop a few times and currently have stop 1.6400 at C:
Forex Calls Recap for 8/24/11
Losers on the EURUSD but a nice winner still running on the GBPUSD, see both below. Here's the US Dollar Index intraday with market directional:
New calls and Chat tonight.
EURUSD:
Triggered long at A and stopped. Put it back in in the morning, triggered long at B and stopped:
GBPUSD:
Clean triggered short at A, hit first target at B, lowered stop a few times and currently have stop 1.6400 at C: