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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

Patience on This Ship

chessNwine Tue Sep 16, 2014 2:22pm EST 7 Comments

funny-pirate-parrot-kid-egg-comic

I reduced some exposure in my portfolio this morning, but am still short bonds and have a blend of some equity shorts and a long on now.

I am stalking the small cap ETF chart, again, on the zoomed-out 30-minute timeframe. I have not directly shorted them in a while, but a failed bounce up to $115-$115.50 would pique my interest. The chart remains corrective and should give you perspective that today’s bounce is nothing too bullish, yet.

Also, I am stalking natural gas and crude for longs with today’s impressive action.

Drop me your top afternoon ideas.

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IWM

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7 comments

  1. Maximus
    Maximus
    September 16, 2014 at 2:27 pm

    I think today might be a good day to initiate swing longs. Too many Bulls turning bearish, IMO. Shaky bears cover early and create the buying.

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  2. UndeadBear
    UndeadBear
    September 16, 2014 at 2:28 pm

    Dropping the hammer on Rusty if the 50 holds

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  3. Andrew_C
    Andrew_C
    September 16, 2014 at 2:29 pm

    Been long UCO since about 11:00am this morning after I closed my SBUX short in the am for a small profit. SBUX was a slow mover. Glad to be rid of it. UCO my only position now. USD looking slightly bearish, broad commods looking slightly bullish now.

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  4. Patrick
    Patrick
    September 16, 2014 at 2:46 pm

    Top ideas JONE and BVN.

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  5. blarggh
    blarggh
    September 16, 2014 at 2:50 pm

    MBLY looking good. This is a long term hold for me.

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  6. blarggh
    blarggh
    September 16, 2014 at 2:51 pm

    Also, look at copper. SCCO insiders bought a ton in recent weeks, and it popped nicely today.

    I am playing it with FCX calls.

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