Stock Picks Recap for 2/17/11
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, RMBS triggered long (with market support) and didn't go ten cents either way, so no gain or loss counted:
REXX triggered short (without market support due to opening five minutes) and worked, but you had to be ready to grab it at the open:
In the Messenger, Rich's AAPL triggered long (with market support) and didn't work:
GOOG triggered long (with market support) and worked:
My big winner of the day was AMZN, triggered long (with market support) and worked great and very technically:
Rich's NTAP triggered long (with market support) and worked:
In total, that's 4 trades triggering with market support, 3 of them worked, 1 did not. Nice day.
Tradesight Market Preview for 2/17/11
The SP added 6 handles to the advance, making a new high. A measured move target has been added to the chart by applying Fibonacci extensions from the July low to the 1216.50 breakout. 1346 is the first level.
Naz was higher by 10 but settled near the low of the day. The Seeker exhaustion signal is still active and the 100% measured move target is just overhead.
Multi sector daily chart:
The 10-day Trin is getting close to the 0.85 overbought threshold.
The OSX was top gun up more than 2%. Keep in mind that the pattern has the look a completed 4 bar trend termination formation but the first day of the pattern, 3 days ago, was not an up day which technically disqualifies the signal.
The SOX outperformed Naz and closed right at the 62% fib.
The XAU closed at the high of the bounce and is very close to the 50dma target.
The BTK remains boxed up:
The BKX was the last laggard, still in the very tight 3 day range.
Oil completed the minimum 9 days down for a Seeker buy setup.
Gold is back at the 1375 level:
The crude vs. OSX spread remains very wide, stay on guard for a convergence move.
Stock Picks Recap for 2/16/11
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.
From the report, VMED triggered long (with market support) and did not work:
YHOO triggered long (with market support) and worked enough for a partial:
ARCC triggered long (with market support) and worked enough for a partial:
AMMD triggered long (with market support) and worked:
PPDI triggered short (without market support) and didn't work:
In the Messenger, FCX triggered short (without market support) and didn't work:
COST triggered long (with market support but near the end of the session) and didn't have time to do anything:
In total, that's 4 trades triggering with market support (not including the COST); INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_category`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES 3 of them worked, 1 did not.
Forex Calls Recap for 2/16/11
A loser and a winner on a day that saw some range in the market, even if it couldn't stick to one direction. See GBPUSD below. New calls tonight and Chat, but CPI in the morning is one of our big three. Also, Friday is options expiration, which has some impact on Forex these days (slows it down); INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_category`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES but we're also heading into a three-day weekend.
EURUSD:
GBPUSD:
Triggered long at A and stopped. Triggered short at B, hit first target at C, lowered stop and closed final piece at D:
To view the rest of the report, take a trial of our services for $2.99 for two full weeks.
Stock Picks Recap for 2/15/11
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 report, VMED triggered long (with market support) and didn't work:
CRUS gapped over the trigger, no play.
CSIQ triggered long (without market support due to the opening five minutes) and didn't work:
PWRD triggered short (in the last five minutes of play) and was working, but not enough time:
In the Messenger, Rich's NFLX triggered short (with market support) and worked:
BIDU triggered short (with market support) and worked:
AMZN triggered short (with market support) and did not work:
Rich's POT triggered short (with market support) and worked great:
His CF triggered short (with market support) and worked:
GS triggered short (with market support) and didn't work:
In total, that's 7 trades triggering with market support (not including PWRD that triggered in the last five minutes); INSERT INTO `wp_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_category`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES 4 of them worked, 3 did not.
Tradesight Market Preview for 2/16/11
The SP is stuck at a measured move. There has been a lot of talk in the financial medial about the SP500 having about doubled from the intraday swing low at 666. They say that the “psychological level” is proving to be a headwall in the advance. The truth is that the “psychological level” is actually a legitimate level. There is a technique for measuring moves that is known as Absolute Fibs. They are different from relative fibs because the absolute fibs have only one reference point. The swing low or high is identified and then the Fibonacci series is applied as a multiplier. This yields measured move targets. In the weekly chart below, the key levels were the 50% fib 666*1.5=999, then 666*1.618=1077.58 and finally the current level, 666*2.0=1332.
The SP posted a narrow range day, leaving a second doji at range high. Wednesday is 2 days before expiration and could see some improved range.
Naz was flat on the day completing the 9 bar Seeker setup phase.
Multi sector daily chart:
The XAU was top gun, settling at the top of the recent range. The trade-to-target remains the 50dma.
The BKX was lower on the day after on an intraday basis recording a new high on the move.
The BTK was range bound:
The OSX underperformed the broad market even though crude was higher on the day. The advance remains uncorrected since the handle breakout December 1,
The SOX was the last laggard on the day. The Seeker exhaustion signal remains active.
Gold:
Oil recorded new YTD lows and is now 8 days down:
Tradesight Market Preview for 2/15/11
The SP was fractionally higher on the day. The most notable feature of the day was the lack of volume, the DIA which we like to track the true market volume on the day was only 49% of the typical run rate. Yup, less than half of the typical volume which need to be taken into account when evaluating all of Monday’s technical action.
Naz was higher by 3 handles and still has an active Seeker exhaustion signal in place.
The weekly cumulative A/D line still needs to record a new higher high; this could be a problem if a divergence develops.
The Put/Call ratio is back to the trend line:
The 10-day Trin is below the baseline but still above the 0.85 overbought threshold:
Multi sector daily chart:
The SOX continues to lag the NDX100—negative divergence:
The OSX/Oil future cross has developed into a screaming divergence. This is typically bullish for crude futures but cannot continue if crude futures continue to tank.
The XAU/Gold cross still has a very bearish divergence;
The SOX closed right at the measured move target and as of Friday has an active Seeker exhaustion signal.
The BTK is finding support at the key 50dma. The chart is still bullish for now, with a Seeker 13 exhaustion on deck.
The BKX posted a narrow range inside day:
Stock Picks Recap for 2/14/11
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 long (with market support) and worked:
INTU triggered long (with market support) and worked:
MAKO triggered long (with market support) and worked just enough for a partial:
CREE triggered long (without market support due to opening five minutes) and worked:
VSEA gapped over, so no play.
In the Messenger, Rich's GMCR triggered long (with market support) and didn't work:
FSLR triggered long (with market support) and worked huge:
BIDU triggered short (with market support) but didn't really work:
In total, that's 6 trades triggering with market support, 4 of them worked, 2 did not.
Forex Calls Recap for 2/14/11
Happy Valentine's Day.
A winner and a loser to start the week. Ranges weren't great. New calls and Chat tonight. Remember that tomorrow is the last day to sign up for our new session of our FX course and mentoring package. And for those that want to take both the regular and the advanced FX courses together, we're doing this for only $2197, which is $700 off. That deal ends Tuesday.
EURUSD:
Triggered short under S1 at A, hit first target at S2 at B, stopped second half at C:
GBPUSD:
Triggered long over UBreak at A, stopped at B:
Stock Picks Recap for 2/11/11
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, CTXS triggered long (with market support) and didn't work, although it did work later:
In the Messenger, Rich's CMG triggered long (with market support) and worked huge:
AIG triggered long (with market support) and didn't work:
AMZN triggered long (with market support) and didn't work initially, we took it again in the room after the initial sweep, and that did work nice:
Rich's NFLX triggered long (with market support) and didn't work:
COST triggered long (with market support) and worked, although it ran out of time:
In total, that's 6 trades triggering with market support, 2 of them worked, 6 did not. First day under 50% in a long time.