I’ve been through a lot of charts this morning and I am seeing both bullish and bearish setups. I don’t see strong evidence to support taking a bullish bias or bearish bias. With this in mind, I am trading small right now and trading out of a hedged portfolio. My current bias is a little [...]
This week I have less general market commentary and more focus on specific stocks. I’m seeing more long opportunities than short opportunities, but I am generally seeing a good balance of both. Many of my ideas from last week are also still valid.
The action in the QQQQs was actually quite helpful last week. I had [...]
Just a short journal post tonight. I will have new ideas over the weekend and the Sunday Night Coffee post sometime on Sunday.
There seemed to be some thought today that Uncle Sam might nationalize C or BAC tonight or over the weekend. Obama then came out and deflated the rumors. We will see.
Today was a [...]
This week was a lot of effort for small gains. I’m not disappointed, however, because we are in consolidation mode and this environment for churn should be expected and factored into your trade. Especially the last two days, I’ve just been trying to be patient and not to try to do too much since I [...]
Not to keep beating the same drum, but look at the chart of C at the end of November and look at BAC the past couple of days. Today’s price action was a complete repeat of C’s price action at the end of November. Yesterday was the big down volume day, today the bigger volume [...]
I’m looking at AVAV as a long opportunity.
There are two potential entry points. The more aggressive trader can enter at about $39 and use the “second breakout” as an entry. The more conservative trader can hope for a pullback to the “first breakout” at about $37.50. I plan on using $36 as my stop [...]
