Happy Easter folks!
Here are the 2-mon/daily and 1-mon/60-min charts of the SPY. The daily chart shows the ascending triangle with a doji string at it’s apex. The 1-mon chart shows the 60-min intra-day action.Both show that the SPY is now trading within a 1 pt range.
As you may have noticed, I refrained from trading much last week. Why? When any triangle forms an apex, you must expect narrow range days toward the apex. This means that there will be a decrease in volatility and a lack of day trading opportunities.This also means that if you went crazy day trading, then you probably got chopped up.
However, if you watched my show, a cluster of doji or doji string represents the possibility of great swing trading setups. I suggest that you look for both long and short-side swing setups because I do expect a major move in the markets this week.
Hope the Easter Bunny was good to everyone!
Here are a couple of new additions to my alerts list – stocks which I think might move on news soon.
EXEL
VRTX
I’ll post some more tonight if I can find the time.
Would really be interested in seeing ideas that others have.
View this from iPad, charts look great.
Not trading info.
http://www.fakesteve.net/2010/04/an-open-letter-to-the-people-of-the-world.html
Just for laughs
I like UEPS short, on a break below 16.48…for a swing. Longer time frame has a nice setup.
John- thx for the heads up on SPY. Could you take a look at FXI and comment. It looks quite bullish to me
and I am interested in several China stocks. thx
Look familiar?
http://www.screencast.com/users/mhass33/folders/Jing/media/59e1bfb5-1f11-41e5-83e7-e7cb3efb3f5a
More ideas for stocks set to alert for price/volume moves due to upcoming news
http://www.thestreet.com/_yahoo/story/10716534/1/biotech-calendar-key-dates-for-april.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
I didn’t have time to go through these individually yet.
Bought $KERX 3.52
Sold $KERX 3.46/47
ABIO close
Market yawns higher!
Bought $AIG 35.02/03
MGM is busting through resistance levels
out dt $AIG 35.02/03 b/e
survivors of the pullback thus far: vlo, sun, rs
Bought $AIG 35.1584/16
Sold 1/2 $AIG 35.30
Sold other 1/2 $AIG 35.21
overnighting some $PMI
The breakout to the upside again on low volume.
the only thing a doji in conjestion tells is one of rest
cutting that $PMI at open
Bought $AIG 35.78/80
Sold $AIG 35.84 revisit
Bought $CPBY 7.039
Sold 1/2 $CPBY 7.14
Sold other 1/2 $CPBY 7.13
watg at 12.12
sold at 12.27x
Major Gappers: $PURE $CKR $TLB $FDO $ZIXI $JASO
Bought $AIG 36.63/64
Stopped $AIG 36.62
Bought $JASO 6.2599
Sold half $JASO 6.29/30
Sold 1/4 $JASO 6.32
Sold last 1/4 $JASO 6.37
ckr 11.97
out 11.87
long ste at 36.14
long jaso at 6.20, long pure at 3.30
out of jaso at 6.16
out of pure at 3.28
bought some $AIG 36.79/80
out $AIG 36.75, not confident
$AIG 2nd attempt 36.83
Sold half $AIG 37.08/09
Sold other half $AIG 37.00
opxa
platform crashed. Bought $AIG in 4 orders $37/06/07
Sold 1/2 $AIG 37.39
Sold other 1/2 $AIG 37.35
YRCW
Sold $AIG 40.00
Bought $LCC 7.78
Sold $LCC 7.80
Bought $ROST 56.35
Sold $ROST 56.14, fail b/o
smsc at 26.16
out at 26.0x ….too thin
Bought test $AIG 39.06/07/08
acls
Sold $AIG 39.13
Bought $MEE 46.40
scss imminent
out $MEE 46.22/23 – no vol
Bought $AAPL 241.26
Sold $AAPL 240.71 – failed spike
mdrx at 20.50
out 20.54
cml at 13.31
out flat
useg moving
Bought $AIG 38.22
Sold $AIG 38.23, no followthrough, no time left