Market Review July 10, 2013

Today was a pretty boring day.  Nothing really happened in the markets even with the FOMC.  SPY closed a few pennies above it’s close from yesterday.  The DOW finished pennies below while the NASDAQ had a rather strong bullish day.  I am still bullish on the markets.  It’s not really worth posting charts today, so I will get into the next segment:

REVIEW OF YESTERDAY’S PICKS:

$BTU:  No Trigger.

$COST:  You’d have been triggered in.  Not much action.

$DECK:  No Trigger

$QCOM:  No Trigger

$CELG:  You would have been triggered in; up a few pennies.

$XONE: You would have been triggered in, but as pointed out, there are no options for this stock, unfortunately.

$DMND:  You would have been triggered in; down a few pennies.

REAL ACCOUNT ACTIVITY:

$UA:  HOLDING (+2%) I still expect a bullish move north.

$LNKD:  HOLDING (-8%)  I’m not sure what to think here, but it seems, at least on the daily chart, that we found a bottom.  I expect we go back to retest 195.

$DMND: OPENED (-14%)  A lot of this loss is due to commission and the bid/ask spread. I expect to rebound in the coming days.

$AXP:  CLOSED (+17%)  I am grateful I was able to get out before the plunge down today.  Wish I had shorted, but such is life.

That’s about it for my open positions.  Picks for tomorrow coming soon.

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Picks for Wednesday July 10, 2013: $BTU, $COST, $DECK, $QCOM, $CELG, $XONE, $DMND

I have a quite a list for you all to make up for lost time and because a lot of these look ripe for the taking!  Let’s get started:

$BTU:  I like a close above 16.21 with a target of 18.00.  Oscillators are starting to turn around and I think a break above the 16.21 line will set this stock on a bullish uptrend.  Stop TBD.BTU_JULY_10_2013

$COST:  If you had been watching this, you would have gotten triggered in today.  Sadly, I was not watching.  I think this guy is going higher.  15min bullish entry with a target of 115.39.  Stop is 112.00COST_JULY_10_2013

$DECK:  This stock has been strong ever since I thought to buy puts a few weeks ago.  We just broke out of a long term and short term downward trend line.  I like this stock long with a 15min entry.  Targets are 55.42, 57.19 and 59.97.  Stop is 53.00DECK_JULY_10_2013

$QCOM:  We are in a clear downward channel.  I like an entry on a close below 58.86 or if you want to be aggressive, take a 15min short entry.  Target 1 is 57.36.  T2 is 56.56.  Stop is 60.40.  Careful on this one with the R/R ratio.QCOM_JULY_10_2013

$CELG:  I like this one long.  It looks strong and broke out of a short term downward trend line a few days ago.  This is a 15min entry with targets of 127.60 and 130.  The R/R ratio isn’t the best so watch out for this one as well.  CELG_JULY_10_2013

$XONE:  Pure speculation but this thing is so overly extended I can’t see how it wouldn’t have a pullback.  The only question is when.  Keep a close eye because it has a ways to fall.XONE_JULY_10_2013

$DMND:  This one just broke out from some long term resistance.  I like this one long on a 15min entry with a target of 24.19 followed by 26.38. Stop is 20.95DMND_JULY_10_2013

Best of luck with all of your trades and positions!

Market Review for Monday July 8, 2013

Good evening all!  I want to apologize for not posting on Friday and Sunday.  I was on vacation and unable to post.  Then, due to flight delays, I was unable to post on Sunday.  At any rate, I am back in business, so let’s get started.

Today was yet another doji, but we closed above the 50 MA again.  Volume was bland but oscillators and indicators support the bullish trend.  Ideally, I would really like to get above the bottom bullish trend line as well as resistance at 166.01.  For now, I am bullish on the market unless something proves otherwise.  SPY_JULY_9_2013

REVIEW OF PREVIOUS PICKS/REAL ACCOUNT:

$UA:  HOLDING (+3%)  This stock still looks bullish.  I like a target of 64.20.  I have my stop at 60.40. 

$MCD:  Never got triggered.  I still like this one bullish on a close above 100.90 with a target of 102.75

$XONE:  No trigger.  I still think this stock is way over extended and due for a big pullback.

$LULU:  CLOSED (-20%) This one was a technical mistake.  I should have used the wick from 6/12 and for some reason I ignored it.  Entering on a close below that wick would have been appropriate.  Unfortunately, that wick provided support at the stock bounced.  I like a bullish entry on a close above 66.85.

$AXP:  HOLDING (+10%)  I think this stock is strong, but I was not crazy about today’s close.  I may buy protective puts depending on the price action tomorrow.  For now my target is at 78.00 and my stop is at 75.00

$LNKD:  HOLDING (+11%) I think this stock is very strong.  I have my stop at 187.  I’m looking at targets of 194.60 and 200.00.

$TLT:  Would have been a nice trade on Friday, but today it rebounded.  You would have hit your target on Wednesday or Friday.

$AAPL:  HOLDING (-2%)  I am short AAPL back down to $400 with a stop at 417.

I am not going to be able to post picks for tomorrow due to time constraints, but I hope to be back in the swing of things tomorrow.  I think we will have another bullish day tomorrow.  I’m hoping AAPL continues its newly downward trend.  Good night all, and good luck!

Picks for July 5, 2013: $UA, $MCD, $XONE, $LULU, $AXP, $TLT, $GOOG

Happy 4th everyone!  With a half day of trading yesterday, the market has some time to “marinate” and hopefully make an indication of which direction it is going to take.  So let’s begin with some picks:

$UA:  I believe this stock is very strong.  A close above 60.96 looks to be a great long entry point.  However, if you want to be aggressive and believe we are going higher, you can enter on a 15min indication.  Indicators are pointing up, but I would ideally like to see volume increase on the bullish move.  UA_JULY_5_2013

$MCD:  It looks like we are breaking out of a short term bearish channel.  You may want to wait for a close above 100.55 or if you want to be more aggressive, you could take a 15min bullish trade.  Target is 102.75.MCD_JULY_5_2013

$XONE:  It looks like this bubble is bursting.  Notice the speed lines I drew.  The most recent line prior to yesterday’s drop is almost vertical.  I think this has a ways to drop.  My target is $53.45 or the speed line I highlighted.  Moreover, yesterday’s candle was a bullish-engulfing candle.  My stop will go above the first 15min candle.  This is definitely a 15min entry.XONE_JULY_5_2013

 

$LULU:  Bracket trade here:  I think the stronger probability is a bearish trade, but the bulls can still win out.  Bearish I like an entry of 63.80 with target of 61.60 and 59.65.  On the bullish side I like an entry of 66.85 and a target of 70.40.LULU_JULY_5_2013

 

$AXP:  What the heck, I’ll do one more since it’s a holiday.  AXP also looks like a bracket set-up.  Bearish entry is a close below 72.90 with a target of 70.45.  Bullish, I like an entry of 76.30 with a target of 78.20.AXP_JULY_5_2013

A couple of other little bonuses:

$TLT: I still like this short with a target of 107.78.  15min entry.

$GOOG:  I still like our entry of 895. with a target of 920.

Enjoy the rest of your holiday and happy trading!