MON caught my eye as a short term trade. RSI is currently at 23 and there is nice support in the 65-66 range. Even if the market remains soft, I think it is a pretty good bet that MON will bounce off support. I’m trying to get in at about $66.6.
I am looking for long [...]
Earnings are out from MON (Materials/Agriculture) , WWW (Textiles/Apparel), COST (Retail), FDO (Retail) and AYI (Home Furnishings).
Based solely on the pre-market reaction, the reports look good and all of these stocks are headed higher (except WWW which is not yet trading). While none of these names carry the weight of a GE or Fedex in [...]
I’m placed a short trade on FCX. I’m using the July 1 high as a stop. If this H&S does not get invalidated and does breakdown, this is a nice spot to enter.
I placed a short trade on MON. I’m playing the retest of the H&S breakdown.
XLE is another retracement from a breakdown. If the [...]
For those interested in socially responsible investing, I think MON is a great short candidate.
MON has completed a beautiful head and shoulders pattern and will be ripe soon to short. I am looking for a retest at $77, Stop $82. With RSI at 33, I think we have a good shot at the retest. Take [...]