tag:blogger.com,1999:blog-35218740029629386352011-07-30T17:54:00.806-04:00This trading blog will include setups I see and track how I played them. I am a developing momentum chart swing trader. Draw your lines and take your trades, Cheers!IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.comBlogger141100tag:blogger.com,1999:blog-3521874002962938635.post-47977786307365413222010-03-06T18:28:00.003-05:002010-03-06T19:33:53.210-05:00

With IWM making new high, SPY & QQQQ very close to new 2010 highs and a better than expected job report (that U.S. might actually created job if not due to the snowstorm), should we go out and be heavily long? Everyone involved in the market sounds giddy and bears that wanted to short the market is close to stopping out of their positions (very clear stop losses above the 2010 highs for SPY and

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-34156518121219710342010-02-04T18:02:00.008-05:002010-02-04T20:43:57.484-05:00

Needless to say, the market had significant selling all day. There were bear flags breakdowns everywhere and the EUR/JPY chart broke nicely and ran right to support today. It certainly wasnt fun going into today net long, but I learned a couple lessons today and in the process helped pulled myself back to even. First of all, I stopped out 2/3 of my XTEX at 9.60 (purchased at 9.98) early in the

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-14841176249212006272010-02-03T21:42:00.003-05:002010-02-03T21:54:36.663-05:00

I will be watching the old carry trade pair EUR/JPY, which has a high correlation with the equity markets around the world. EUR/JPY - If this bear flag breaks to the downside, the US equity market should followFXI - This market bottomed before the US market for 2-3 months last year. Right now, this market topped in Nov and has put in a clear lower high. 41-41.5 would be a great place to initiate

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-4316198368496177722010-02-02T22:21:00.004-05:002010-02-02T22:47:43.671-05:00

Position updates: BHI (Long - loss), VCI (Long - Win), MMR (Long - Win)Open Position: MGA (Long)Wasnt able to post due to computer issues. I resisted the urge to short the market aggressively on Friday as I thought market was too oversold for any swing entries. The market has since bounced strong 2 straight days and worked off most of the oversold levels. The strength or lack of selling (only 1

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-78747975415957885292010-01-25T23:06:00.004-05:002010-01-25T23:20:06.593-05:00

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

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-42812672963088994292010-01-24T17:31:00.003-05:002010-01-24T17:51:22.154-05:00

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

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-58188841118231407842010-01-20T00:08:00.003-05:002010-01-20T00:14:06.869-05:00

PDC - bull flag, but might need more consolidationCERN - nice basing over prior swing high, 20D catching upQSFT - nice cup& handle under major resistance level, watch for a move over 19 on volOthers charts to watch tomorrow: TSTC (testing 30D, also H&S look), SPG, MOS, ITRI, ABFS

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-27100376731593992182010-01-14T21:23:00.004-05:002010-01-14T21:38:18.755-05:00

AF - sold 1/2 of swing at 13.18, from 12.62MAR - bought at 28.55 off a long base breakout, sold 1/2 before the close at 29.81also 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

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-3394319778905076072010-01-12T23:49:00.003-05:002010-01-13T00:51:53.667-05:00

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:CEUCYDPDSPDCSQM

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-77837347238610003312010-01-12T23:47:00.001-05:002010-01-12T23:49:01.658-05:00

Stopped out at 12.92 today

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-13729940743495065752010-01-11T00:57:00.003-05:002010-01-11T01:37:34.680-05:00

WATG FMCNCALI PENNHITK GMXRMSPDOthers 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)

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-82020052748484705542010-01-10T23:55:00.001-05:002010-01-10T23:57:04.915-05:00

GHL - worth watching here... 80 is support area on weekly chart

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-65753533558488273132010-01-10T02:30:00.004-05:002010-01-10T17:33:05.957-05:00

CTFO - watch for a breakout over 10FNFG - flagging after breakout

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0tag:blogger.com,1999:blog-3521874002962938635.post-670269995243256592010-01-09T23:40:00.011-05:002010-01-10T01:47:25.715-05:00

AFKONG - watching for a break of trendline

IEMhttp://www.blogger.com/profile/17154516220963288858noreply@blogger.com0