Stock Picks Recap from 8/18/11
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.
Off the report, all three short ideas gapped under the triggers, so no plays.
In the Messenger, Rich's FFIV triggered short (with market support) and worked:
FSLR triggered short (with market support) and didn't really work:
Rich's SINA triggered long (without market support) and didn't work:
GOOG triggered short (with market support) and worked:
NFLX triggered long (without market support) and still worked enough for a partial:
Rich's APA triggered short (with market support) and worked:
In total, that's 4 trades triggering with market support, 3 of them worked, 1 did not.
Stock Picks Recap for 8/17/11
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, ENDP triggered short (with market support) and didn't work:
TZOO triggered short (without market support) and didn't work, but also triggered later with market support and worked just great:
In the Messenger, Rich's BCSI triggered short (with market support) and worked:
His FSLR triggered short (without market support) and worked:
NFLX triggered short (without market support) and worked enough for a partial, but came back quickly, and also triggered later with market support and worked great:
Rich's CROX triggered short (with market support) and worked nice:
His SOHU triggered short (without market support) and worked enough for a partial:
His WYNN triggered long (with market support) and didn't work:
NTAP triggered short (with market support) and worked:
Rich's FFIV triggered short (with market support) and worked enough for a partial late in the day:
Rich's DECK triggered short (with market support) and didn't work:
In total, that's 7 trades triggering with market support, 4 of them worked, 3 did not.
Forex Calls Recap for 8/17/11
Winner and loser for the session, nothing special. August continues.
Here's the US Dollar Index intraday with market directional lines:
See EURUSD and GBPUSD below. New calls and Chat tonight.
EURUSD:
Triggered long at A, hit first target at B, and raised stop on second half and stopped at C:
GBPUSD:
This is a little more interesting and requires a discussion. Our courses teach an order staggering method for getting into trades over a few pips at the entries. In the case of this trade, at point A, it went 4 pips under the trigger line, which could have triggered some (or all if you were really aggressive) of the staggered entries. Those would have stopped. Then, it triggered again at B, so if you still had pieces of your trades that hadn't triggered the first time, they would have fired at B, However, here, it was on a quick news spike, and if you used Stop-Limit orders correctly, you might not have been filled at all (which is fine). It then hit the first target at C and reversed hard. For tracking purposes, we're just going to count this as a regular loss/stop-out, but in reality if you followed the rules, it might have been a little more complicated:
Tradesight Market Preview for 8/18/11
| Previous Day | Next Day | | View in Print Format | |
| Other reports for this day [ Daily Picks | Small Caps | Forex Reports ] | |||
Report Results
Expand All / Collapse All
 Market Action and Futures Trading with Tradesight Levels from Prior SessionES with Tradesight Levels: NQ with Tradesight Levels: ZN (10-year Treasury Note) with Tradesight Levels: ES with Tradesight Market Directional Tool: |
 Tradesight Market OverviewThe SP lost 2 handles on the day as the market worked through the August option cycle unraveling. Price remains boxed up and might remain contained for the rest of the week. Note that the MACD is trying to make a bullish crossover.  Naz was much weaker than the broad market losing 24 on the day. Keep in mind that until reclaimed, the 2200 level is key resistance.  Multi sector daily chart:  The put/call ratio popped above the 1.10 oversold threshold.  The Dow/gold ratio recorded a new low close:  The XAU was top gun on the day adding 1%.  The BKX was stronger than the broad market but is still contained in what could be a bear flag pattern.  The OSX is still trapped in the 3 day range:  The SOX is still hugging the lower channel. The MACD has made a positive cross but price has not yet confirmed the move.  The BTK was weak but slightly stronger than the NDX:  Oil:  Gold:  |
Tradesight Market Preview for 8/17/11
The SP played the waiting game ahead of the monthly option unraveling. Price ran the full range of the prior day and settled within the real body. Price settled lower on the day and also below the 10ema.
Naz put in the same day as the SP but closed slightly above the 10ema. Note that the MACD has a ways to go before crossing over and producing a buy signal.
Multi sector daily chart:
The 10-day Trin remains oversold:
The OSX has lost its advantage over the oil futures.
The SOX continues to bearishly lag the overall NDX.
Gold futures (the new currency alternative) are still leading the lagging gold mining stocks. This condition always makes the elevated levels in gold suspect, though, with the current state of global-macro affairs, not a suspect worth fighting.
The XAL was top gun on the day, and the only net positive major sector.
The BTK was the best performing Naz sector and closed above the 10ema but didn’t confirm a CIT with a new closing high.
The XAU settled right at the 200dma.
The SOX is still gamming the lower trend channel.
The BKX traded inside yesterday’s range is winding up with a massive amount of energy. Note that the index was extremely weak vs. the broad market.
The OSX was the last laggard on the day and still has very key resistance at the 245 breakdown. Persistent weakness is a real cause for concern for the bulls.
Oil:
Gold matched the prior high close:
Stock Picks Recap for 8/16/11
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.
Nothing triggered off of the report.
In the Messenger, AAPL triggered long (with market support) and did not work:
NTAP triggered short (with market support) and did not work, although it worked later:
Rich's SOHU triggered short (with market support) and worked great:
TEVA triggered long (with market support) and didn't work:
AMGN triggered long (with market support) and worked enough for a partial (and filled the gap):
FSLR triggered short (without market support) and worked:
Rich's GILD triggered long (with market support) and worked:
In total, that's 6 trades triggering with market support, 3 of them worked, 3 did not.
Forex Calls Recap for 8/16/11
A winner that gave us hours to enter, which is always nice when they go early. See EURUSD below. New calls and Chat tonight.
Here's the US Dollar Index intraday with market directional levels:
EURUSD:
Triggered short at A but gave you all the way to B to take without stopping. Hit first target at C, stopped final piece over entry at D:
Tradesight Market Preview for 8/16/11
The SP gained 22 on the day closing above the 10ema, turning the short-term trend positive. A close above the 1200 level would reclaim the break down gap from 8/8/11 and offer conformation. Traders should expect that the primary trend line from the 2009 low will be a real area of interest and be a future battle ground if price continues higher. Note that the MACD has not yet confirmed an uptrend.
Naz gained 29 and reclaimed the 10ema turning the short-term bias to positive. Keep an eye on the MACD for conformation.
The multi sector daily chart shows the relative strength of the defensive XAU:
The 10-day Trin remains very oversold and has lots of upside potential energy for equities.
The Dow/gold ratio recorded new lows on the macro move. Until this trend is broken, gold remains the favored asset class.
The BTK was top gun on the day up more than 4%. However, note that price is still on the wrong side of the 10ema.
The BTK was up 4% and bullishly reclaimed the 10ema. Note the 1200 gap that is the next key level.
The airline stocks shined and also put in a MACD cross. Look to this sector for continuation ideas.
The OSX was stronger than the market and approached the 245 breakdown level. Trade above 245 puts the 250 4/8 Gann level in play.
The XAU reclaimed the 200dma as showed relative strength during the selling episode. Note the higher low in the CCI.
The SOX was contained by Friday’s high.
Oil was higher on the day reclaiming the 10ema:
Gold gammed the 8/8 level, so far holding the recent advance:
Stock Picks Recap for 8/15/11
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 reports, DTLK triggered long (with market support) and worked enough for a partial:
In the Messenger, AMZN triggered long (with market support) and worked about a point, enough for a partial:
It then triggered short (with market support after market rolled) and worked fine:
Rich's VMW triggered long (with market support) and didn't work:
FSLR triggered long (with market support) and worked:
KLAC triggered long (with market support) and worked:
NTAP triggered short (without market support) and worked:
Rich's NFLX triggered short (with market support) and worked:
His RIMM triggered long (with market support) and worked great:
In total, that's 8 trades triggering with market support, 7 of them worked, 1 did not. Several of the winners were very nice.
Stock Picks Recap for 8/15/11
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 reports, DTLK triggered long (with market support) and worked enough for a partial:
In the Messenger, AMZN triggered long (with market support) and worked about a point, enough for a partial:
It then triggered short (with market support after market rolled) and worked fine:
Rich's VMW triggered long (with market support) and didn't work:
FSLR triggered long (with market support) and worked:
KLAC triggered long (with market support) and worked:
NTAP triggered short (without market support) and worked:
Rich's NFLX triggered short (with market support) and worked:
His RIMM triggered long (with market support) and worked great:
In total, that's 8 trades triggering with market support, 7 of them worked, 1 did not. Several of the winners were very nice.