I gave an extensive list of trading ideas this week inside 12631 for members. Whether the longs or shorts actually trigger remains to be seen. Below, you will find one short idea and one long idea for tomorrow and beyond. The market continues to be on shaky ground, chopping up overly aggressive longs and shorts along the way. Staying objective and nimble continues to be the name of the game for traders in this type of tape.
If you are just checking in after the weekend, be sure to go back and see my earlier posts with more analysis.
6 Responses to One and One
You’re taking all my cool pics.
“WE’RE GOING TO CONTENTION.”
Glad you brought up SGEN. Big fan of them.
Chart looks interesting, however, on the longer timeframe, wouldn’t you say a head and shoulders top is in place as of now therefore making the target to go long on a break of 21, rather than 20? I was thinking for a while now that the right shoulder of a large, sprawling H&S was put in toward the end of March and have been wary about going long this name except very short term trades.
I would like to hear if maybe I’m not fully understanding that type of pattern or if you see the same thing I do. I think it can be seen on the daily as well as the weekly if you stretch the chart back to before 2011 began.
not a clean or textbook head and shoulders, but like I said in the post if it gets & holds above $20 with strong buyers it negates the bearish thesis