You’re Swimming with Sharks Now

ccEq6Sm

Whether or not bulls can pull off another V-shape rally to new highs remains to be seen. But what we can say with certainty is that the selling in growth names and other leaders in recent weeks has been unlike anything we have seen since 2012.

The highlight of the past few weeks in the market for us has been sniping short sales while avoiding major drawdowns. Covering shorts to lock in hard-fought gains and then moving to a highly defensive cash position earlier this week puts us in a spot to objectively reassess the true strength, or lack thereof, of this market next week.

Losses in other names were religiously kept to a minimum, inside our 12631 Trading Service, which @RaginCajun and I direct.

I can assure you that a membership to 12631 is well worth its price over the long run.

The way we see it, the big winners will eventually take care of itself–What we care about most is mitigating downside and not being stubborn with losers, and not taking on unnecessary risks. In addition, we strive to preserve a top shelf, quality atmosphere for traders of all backgrounds. We fuse together actionable idea flow with a constant emphasis on proper risk management techniques in our streaming, Twitter-like, state of the art chat room.

Please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price.

Also, be sure to catch my next Weekly Strategy SessionPlease click here for details about joining. Please also note that members of our 12631 Trading Service receive the Strategy Session each weekend at no additional cost.

See you there.

Have a great weekend!

Finding its Way Out of the Cave

5nj84Jv

I presented an intraday look at natty gas earlier today, with its high and tight bull flag resolving higher intraday.

And now here is the weekly chart for the badly beaten-down commodity, for many years now a laggard.

Note how constructive it was seeing natural gas convert $24 on the ETF into support after being resistance for quite some time.

This is a basic tenet of technical analysis in terms of looking for a bearish-to-bullish reversal. That remains the level against which to trade. As long as that holds, a move into the $30′s is within shot.

________________________________________________

UNG

 

 

A Bunch of Checkups from the Neck Up

pictures_of_the_day_4-1

Headed into next week, we have yet another test as to whether the 2013, V-shape playbook is still in effect.

Typically, though, when you see multi-year extended winners lie Visa start to finally crack, which we played on the short side inside 12631 earlier this month, and then check back (retrace/bounce) to the scene of the breakdown like it has below on the daily chart, you will then find a quality short entry to play for another rollover.

I am seeing other such setups in the tape, such as with GM.

_________________________________________________

V

 

Breathe in These Five Stocks Today

AsITmOK

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.

________________________________________________________

2014-04-17_1220

High and Tight Oorah Gas

HandT

I am not looking to load up on much of anything into the long weekend.

But natty gas is flagging out nicely, high and tight, after an initial surge higher this morning.

If UNG can crack over $26.20 today, I would consider a levered long ETF for natural gas, either BOIL or UGAZ.

______________________________________________________

UNG

You’re Swimming with Sharks Now

ccEq6Sm

Whether or not bulls can pull off another V-shape rally to new highs remains to be seen. But what we can say with certainty is that the selling in growth names and other leaders in recent weeks has been unlike anything we have seen since 2012.

The highlight of the past few weeks in the market for us has been sniping short sales while avoiding major drawdowns. Covering shorts to lock in hard-fought gains and then moving to a highly defensive cash position earlier this week puts us in a spot to objectively reassess the true strength, or lack thereof, of this market next week.

Losses in other names were religiously kept to a minimum, inside our 12631 Trading Service, which @RaginCajun and I direct.

I can assure you that a membership to 12631 is well worth its price over the long run.

The way we see it, the big winners will eventually take care of itself–What we care about most is mitigating downside and not being stubborn with losers, and not taking on unnecessary risks. In addition, we strive to preserve a top shelf, quality atmosphere for traders of all backgrounds. We fuse together actionable idea flow with a constant emphasis on proper risk management techniques in our streaming, Twitter-like, state of the art chat room.

Please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price.

Also, be sure to catch my next Weekly Strategy SessionPlease click here for details about joining. Please also note that members of our 12631 Trading Service receive the Strategy Session each weekend at no additional cost.

See you there.

Have a great weekend!

Finding its Way Out of the Cave

5nj84Jv

I presented an intraday look at natty gas earlier today, with its high and tight bull flag resolving higher intraday.

And now here is the weekly chart for the badly beaten-down commodity, for many years now a laggard.

Note how constructive it was seeing natural gas convert $24 on the ETF into support after being resistance for quite some time.

This is a basic tenet of technical analysis in terms of looking for a bearish-to-bullish reversal. That remains the level against which to trade. As long as that holds, a move into the $30′s is within shot.

________________________________________________

UNG

 

 

A Bunch of Checkups from the Neck Up

pictures_of_the_day_4-1

Headed into next week, we have yet another test as to whether the 2013, V-shape playbook is still in effect.

Typically, though, when you see multi-year extended winners lie Visa start to finally crack, which we played on the short side inside 12631 earlier this month, and then check back (retrace/bounce) to the scene of the breakdown like it has below on the daily chart, you will then find a quality short entry to play for another rollover.

I am seeing other such setups in the tape, such as with GM.

_________________________________________________

V

 

Breathe in These Five Stocks Today

AsITmOK

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.

________________________________________________________

2014-04-17_1220

High and Tight Oorah Gas

HandT

I am not looking to load up on much of anything into the long weekend.

But natty gas is flagging out nicely, high and tight, after an initial surge higher this morning.

If UNG can crack over $26.20 today, I would consider a levered long ETF for natural gas, either BOIL or UGAZ.

______________________________________________________

UNG

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