A Prime Spot for an Amazon Drop

o-AMAZON-DRONES-facebook

The most basic of trendlines can be found on the Amazon monthly chart, below. After this recent post-earnings drop, the presumption is that this support trend will likely break and, at a minimum, reset Amazon’s long-term bull run. Of course, there is also the risk the support break morphs into a deeper bear pullback.

Much like the NFLX P YELP drops lower, though, we can see big money striking decidedly more cautious tone even with the rally in the major averages over the past week or so.

I would resist bottom-fishing Amazon for anything more than a quick one/two day flip with the downside risks still pronounced and the earnings quagmire not likely to have run its course yet.

__________________________________________________________________

AMZN

Five Stocks Playing Strong Hands Today

B0rQm5aIQAAMAB2

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.

________________________________________________________________

2014-10-24_1221

Biotechs Still a Haunted House for Bears

Jqc8476

To follow-up on my post from yesterday, in order for me to short biotechs again, or perhaps short anything else, this biotech sector ETF chart is going to need to stage a meaningful reversal.

Simply put, since last Wednesday’s lows we have seen a sharp move to new highs which has settled into a strong if not steep uptrend channel (light blue lines).

A name like ACHN over $11.50 looks most actionable on the long side for bitoechs, though I suspect the mega cap ones would be most critical to the sector’s health.

In cash I sit…

_____________________________________________

IBB

Back-Rank Checkmate Potential

3234-handpainted-modern-oil-painting-on-canvas-wall-art-picture-for-home-decor-font-b-unique

If crude oil loses the highlighted daily chart bear flag, below, I am considering DTO SCO inverse ETF’s to short black gold.

As you know, crude has been quite weak for some time and has failed to hold much of a bounce at all.

Against that backdrop, a washout is still a clear risk, especially with the USO ETF loses $30.

What are you trading this morning?

____________________________________________________

USO

Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

A Prime Spot for an Amazon Drop

o-AMAZON-DRONES-facebook

The most basic of trendlines can be found on the Amazon monthly chart, below. After this recent post-earnings drop, the presumption is that this support trend will likely break and, at a minimum, reset Amazon’s long-term bull run. Of course, there is also the risk the support break morphs into a deeper bear pullback.

Much like the NFLX P YELP drops lower, though, we can see big money striking decidedly more cautious tone even with the rally in the major averages over the past week or so.

I would resist bottom-fishing Amazon for anything more than a quick one/two day flip with the downside risks still pronounced and the earnings quagmire not likely to have run its course yet.

__________________________________________________________________

AMZN

Five Stocks Playing Strong Hands Today

B0rQm5aIQAAMAB2

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.

________________________________________________________________

2014-10-24_1221

Biotechs Still a Haunted House for Bears

Jqc8476

To follow-up on my post from yesterday, in order for me to short biotechs again, or perhaps short anything else, this biotech sector ETF chart is going to need to stage a meaningful reversal.

Simply put, since last Wednesday’s lows we have seen a sharp move to new highs which has settled into a strong if not steep uptrend channel (light blue lines).

A name like ACHN over $11.50 looks most actionable on the long side for bitoechs, though I suspect the mega cap ones would be most critical to the sector’s health.

In cash I sit…

_____________________________________________

IBB

Back-Rank Checkmate Potential

3234-handpainted-modern-oil-painting-on-canvas-wall-art-picture-for-home-decor-font-b-unique

If crude oil loses the highlighted daily chart bear flag, below, I am considering DTO SCO inverse ETF’s to short black gold.

As you know, crude has been quite weak for some time and has failed to hold much of a bounce at all.

Against that backdrop, a washout is still a clear risk, especially with the USO ETF loses $30.

What are you trading this morning?

____________________________________________________

USO

Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.