Late Night Strategy for Friday

3JaS17U

12631 member @Greekpunk reminded me of BBY as a viable pre-holiday long setup, seen with gap-fill potential higher on the daily chart, below.

While the chart has much work ahead to heal itself, I like it as a quick long idea over Thursday’s high of $32.46 to clear some recent price congestion and threaten the gap-fill above.

Drop me your top tickers overnight.

_____________________________________________________________

BBY

 

Stock #Market Recap 08/28/14 {Video}

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

Unsuspecting Winners

pictures_of_the_day_10

Headed into September, it is tough to think of two more unloved charts than silver and one of the volatility ETF’s.

And yet, on their respective zoomed-out 30-minute charts, below, you can see the potential for rounded bottoms for a surprise rally into September.

I am flat both but actively considering building a position in them as early as tomorrow or next week,

See you after the bell for my video market recap.

_______________________________________________________________

SLV

_______________________________________________________________

UVXY

Back to That Same Look

alexis_6

The 30-minute chart for the small cap ETF which we looked at yesterday still has that rising wedge setup in play.

As you can see on the IWM ETF, updated below, the rising wedge broke lower as small caps continue to lag the market. That may not matter much to the likes of DGLY or GPRO longs.

But after Labor Day I suspect it will, if bulls fail to drag the small caps up new highs along to compliment the S&P and Nasdaq.

What are you trading this afternoon?

____________________________________________________

IWM

Five Stocks Enjoying the Pre-Holiday Party

lCE8G9e

Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

________________________________________________________________

2014-08-28_1229

More on the Casinos

Courtesy of reader and 12631 member “Rosenrush,” here is an excellent comment to my earlier post on the weakness we seen in both Macau and Las Vegas-related casinos:

Rosenrush

You can look to several reasons for the potential weakness in casinos…the primary catalyst right now is the crackdown on illegal funds flowing through Macau casinos. This is why you are seeing such pronounced weakness in names associated with Macau. There are estimates that up to 60% of the money wagered there is connected to the triads or other illegal means. By eliminating that stream, performance will suffer. Also note that there have been hints that they are going to get tougher in Vegas as well, which will also hurt.

Next, you have new competition coming to Vegas, although most isn’t in the immediate future…SLS just opened and is sure to take some of the young money, specifically from the nighlife, which has proven to be very profitable for WYNN (XS, Surrender) and LVS (Lavo, TAO). Resorts Worldwide opening in a few years is going to take a huge chunk of the asian high limit market away from everybody, although I’m not sure anybody is specifically worried about it just yet.

Next, you have some companies building ferris wheels as their saving grace, which is clearly not working. CZR is a short from now until bankruptcy. Any shot higher is a chance to short more.

 

Late Night Strategy for Friday

3JaS17U

12631 member @Greekpunk reminded me of BBY as a viable pre-holiday long setup, seen with gap-fill potential higher on the daily chart, below.

While the chart has much work ahead to heal itself, I like it as a quick long idea over Thursday’s high of $32.46 to clear some recent price congestion and threaten the gap-fill above.

Drop me your top tickers overnight.

_____________________________________________________________

BBY

 

Stock #Market Recap 08/28/14 {Video}

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

Unsuspecting Winners

pictures_of_the_day_10

Headed into September, it is tough to think of two more unloved charts than silver and one of the volatility ETF’s.

And yet, on their respective zoomed-out 30-minute charts, below, you can see the potential for rounded bottoms for a surprise rally into September.

I am flat both but actively considering building a position in them as early as tomorrow or next week,

See you after the bell for my video market recap.

_______________________________________________________________

SLV

_______________________________________________________________

UVXY

Back to That Same Look

alexis_6

The 30-minute chart for the small cap ETF which we looked at yesterday still has that rising wedge setup in play.

As you can see on the IWM ETF, updated below, the rising wedge broke lower as small caps continue to lag the market. That may not matter much to the likes of DGLY or GPRO longs.

But after Labor Day I suspect it will, if bulls fail to drag the small caps up new highs along to compliment the S&P and Nasdaq.

What are you trading this afternoon?

____________________________________________________

IWM

Five Stocks Enjoying the Pre-Holiday Party

lCE8G9e

Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

________________________________________________________________

2014-08-28_1229

More on the Casinos

Courtesy of reader and 12631 member “Rosenrush,” here is an excellent comment to my earlier post on the weakness we seen in both Macau and Las Vegas-related casinos:

Rosenrush

You can look to several reasons for the potential weakness in casinos…the primary catalyst right now is the crackdown on illegal funds flowing through Macau casinos. This is why you are seeing such pronounced weakness in names associated with Macau. There are estimates that up to 60% of the money wagered there is connected to the triads or other illegal means. By eliminating that stream, performance will suffer. Also note that there have been hints that they are going to get tougher in Vegas as well, which will also hurt.

Next, you have new competition coming to Vegas, although most isn’t in the immediate future…SLS just opened and is sure to take some of the young money, specifically from the nighlife, which has proven to be very profitable for WYNN (XS, Surrender) and LVS (Lavo, TAO). Resorts Worldwide opening in a few years is going to take a huge chunk of the asian high limit market away from everybody, although I’m not sure anybody is specifically worried about it just yet.

Next, you have some companies building ferris wheels as their saving grace, which is clearly not working. CZR is a short from now until bankruptcy. Any shot higher is a chance to short more.