Posted by
IEM
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Posted in
watchlist
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Posted on
11:06 PM
Nothing much changed today - there werent any significant bounces, nor was there many sharp sell offs that trigger my support alerts. Market is still oversold, but the bulls need to push us higher fast, else we can work off this oversold level by going sideways through time.
Here are a few setups I will track tomorrow:
TQNT - heard it was recommended by some newsletter today, but nice base. Watch over 6.5
MGA - Bull flag into 20D with fib levels... JCI has been strong after eps
TXT - breakout/ pullback setup, but I saw a few of these fail last week...
VIP - on the short side, nice triangle forming here, watch under friday's low
Might have a few more after I go through the rest of my watchlist...
Keep the timeframe short and target reasonable, trade them well tomorrow!
Posted by
IEM
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Posted in
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Posted on
5:31 PM
There were some strong selling last couple of days and many stocks broke down hard (give back breakouts or sliced thru supports). The market now is quite oversold based on McClellan or NYMO indicators on a short term basis. It seems too early to say the market has topped, I would observe the character of the upcoming bounce and watch for a possible lower high around 1120 on the ES.
For this coming week, I would look for some bounces but keep my timeframe short and position small. If the market is rolling over, there will be many more opportunities to short down the road. I will try to put up some watchlist ideas later tonite...
Now for the position update:
out of CTFO @ 8.90 for small gain on the last piece, out of IR @ 36.62 and 36.35 for about a 1% loss, out of MAR @ 28.65 for a small gain on final half...
started AM short @ 19.15, stop over 20.1; note how light the transaction vol is between 16 and 19.
Posted by
IEM
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Posted in
watchlist
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Posted on
12:08 AM
PDC - bull flag, but might need more consolidation
CERN - nice basing over prior swing high, 20D catching up
QSFT - nice cup& handle under major resistance level, watch for a move over 19 on vol
Others charts to watch tomorrow: TSTC (testing 30D, also H&S look), SPG, MOS, ITRI, ABFS
Posted by
IEM
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Posted in
journal
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Posted on
9:23 PM
AF - sold 1/2 of swing at 13.18, from 12.62
MAR - bought at 28.55 off a long base breakout, sold 1/2 before the close at 29.81
also played HMSY and AES, but neither got any traction... sold them both around breakeven and lost the commissions. VMW had a very similar setup to MAR, I was deciding which one to take and took MAR. I should be in both, very nice and clean chart that broke out on high vol.
my current positions are AF (1/2 left), MAR (1/2), CTFO (1/4), ABAT (1/2)... scaled out of most into profit targets, except ABAT, which hit my first level stop loss.
Posted by
IEM
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Posted in
watchlist
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Posted on
11:49 PM
A pullback is very much needed and should create good setups. Here are a few charts that had strong breakouts and I will observe its pullback (if it does) over the next several days:
CEU
CYD
PDS
PDC
SQM
Posted by
IEM
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Posted in
journal
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Posted on
11:47 PM
Stopped out at 12.92 today
Posted by
IEM
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Posted in
watchlist
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Posted on
12:57 AM
WATG
FMCN
CALI
PENN
HITK
GMXR
MSPD
Others to watch: EGI, THM, PUDA, VVUS, HEAT, HPJ, MTL, KONG, RAX, AF, CRZO, HL, ATLS, PENN, LVS, CTFO, STP (too many setups, might be too frothy here)
Posted by
IEM
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Posted in
watchlist
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Posted on
11:55 PM
GHL - worth watching here... 80 is support area on weekly chart
Posted by
IEM
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Posted in
watchlist
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Posted on
2:30 AM
CTFO - watch for a breakout over 10
FNFG - flagging after breakout
Posted by
IEM
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Posted in
journal
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Posted on
11:40 PM
AF
KONG - watching for a break of trendline
