Shaken and Stirred, But Not Perturbed

This is precisely the type of price action gold bugs want to see, with each seemingly cautious bit of action failing to follow-through lower. We are looking at one higher low after the next in the yellow metal, leading the charge in its entire complex of late.

Earlier this week, I stopped out of a gold miner long inside 12631 for a loss. However, we have caught several nice trades in the precious metals and miners complex dating back to last year, to the point where taking a loss here and there, despite how high beta the sector and ETF’s can be, should be accepted as part of the process.

I remain unperturbed by my loss earlier this week, and am actively seeking to reenter the complex if today’s strength holds and builds on itself. NUGT is at the top of my list, as are some silver miners like SLW.

The gold metal is outperforming silver again. And the best case bears have here is that silver is the weak link which will roll the sector over lower.

However, bulls are winning battles here after a multi-quarter bear market, and I am respecting that.

Also note UNG losing $25 today. I am stalking DGAZ for an entry.

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There is little doubt that both Trulia and Zillow, two competitors in the online real estate listing space, are sporting damaged and vulnerable daily charts.

Trulia looks to be particularly vulnerable to imminent, further weakness, while Zillow is teasing a major breakdown from consolidation.

To my eye, the only issue is whether the infamous bear traps we have seen sprung on shorts for a while now continues, or whether by-the-book setups like these continue to deteriorate. The best play for traders is to stick to their triggers and stay disciplined. I still think both are short setups on weakness, until the technicals heal.

Which stocks are at the top of your watchlists this morning?

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SAVE has been a notable outperformed in the airline space. Speaking of aviation, consider the above video.

via YouTube:

Bill opens up a vintage “black box” from a Delta airlines jetliner. He describes how the box withstands high temperatures and crash velocities because it is made from Inconel: A superalloy steels that is used in furnaces and others extreme environments. The flight data recorder he shows is a Sundstrand FA-542 and was likely used on a DC-9 in the 1970s, although it could have been used as late as 1988 on a Boeing 727.

What is your favorite airline play here, long or short?

What do you think happened to Malaysia Airlines Flight MH370?

Speak your mind, night owls.

After Tuesday’s reversal lower, I like retail play Coach as a short idea back under $49. Note the declining 50 and longer-term moving averages, all above price on the daily chart, below. This is a damaged chart, despite the recent bounce.

On the long side, restaurants DFRG KONA continue to be hidden gems in this market, outperforming quite well on a relative and absolute basis.

Drop me your top tickers overnight.

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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

I am short Citi here into the bell, entered inside 12631. My cover-stop is a close over $50.50, limiting my risk on the trade.

Citi has been the notable weak sister in the finnies, even with the sector’s recent rally.

I am playing for the daily chart consolidation below, under declining major moving averages, to resolve lower and for the sector’s rally to come back in.

See you after the bell for my video market recap.

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