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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

The Selfie Consumer Cannot Be a Superhero Forever

chessNwine Fri Apr 11, 2014 10:37am EST 14 Comments

hot_asian_girls_4

I present the weekly charts of Coach and Tjx to illustrate a few retail/consumer stocks I am laying to break much lower after a multi-year bull run.

The seemingly infallible consumer is showing signs of slowing down, what with the action in Starbucks of late, for example.

I am playing these two, among others, for major breakdowns inside 12631. That said, I will not be holding short through earnings.

What are you trading this morning?

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COH

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TJX

 

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14 comments

  1. superocean9
    superocean9
    April 11, 2014 at 10:43 am

    Longs; $JO, $UCO, $SWC & $SPLK
    staying heavy Cash.

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  2. Monte Burns
    Monte Burns
    April 11, 2014 at 10:48 am

    Could this mark the top in the selfie bull:

    http://news.yahoo.com/blogs/trending-now/this-mirror-takes-your-selfies-and-posts-them-to-social-media-182252605.html

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  3. paradox
    paradox
    April 11, 2014 at 10:49 am

    I’m trading the touch of the bottom trendline of the descending broadening wedge that can be seen on the QQQ daily. 🙂

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  4. slim
    slim
    April 11, 2014 at 10:53 am

    I call the lady on the left

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    • chessNwine
      chessNwine
      April 11, 2014 at 10:53 am

      You would, slim.

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      • slim
        slim
        April 11, 2014 at 11:29 am

        Well, someone has to!

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        • slim
          slim
          April 11, 2014 at 11:30 am

          In seriousness I bought TNA at the open, up right now, but was hoping for a bigger bounce, thinking about taking profits. Me-thinks the corner has finally turned on the bull market, at least for a while.

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          • slim
            slim
            April 11, 2014 at 11:40 am

            I mean, day after second over-sold PPT score this week, usually the rocket ship engines ignite at this point. Just saying’

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  5. TheGameTheorist
    TheGameTheorist
    April 11, 2014 at 10:54 am

    LONG $NIB $SGG $CORN $DBA $PALL. Any recommendation for more “defensive or downside” exposure without margin account? Skeptical of inverse ETFs.

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  6. TheGameTheorist
    TheGameTheorist
    April 11, 2014 at 11:03 am

    Hehe! Thanks Chess!

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