Latest Titanic Readings in Case of Iceberg

Titanic-sinks1

Here are some actionable short ideas on this list, especially if the market sees another day of weakness.

Courtesy of The PPT algorithm, here are some very aggressive ideas for short trades headed into Friay. If you are not comfortable shorting (especially in a bull market), there is nothing wrong with taking a pass. Keep those cover-stops in place.

Nonetheless, a good chunk of readers are always looking for short ideas.

Members of The PPT can click here to view and save this “Titanic” Screen, as I named it when I created it a few years back. The screen isolates stocks vulnerable to further weakness.

Please click on image to enlarge 

________________________________________________________

2014-04-25_0050

Late Night Strategy for Friday

RAuXdFm

Consistent with a blog post I wrote on Thursday, I am looking at General Motors again on the short side if price moves back down through $34. There is still a major topping pattern in play here, seen on the daily chart, below.

And some long ideas holding up well, if we see a broad market bounce: ANR H RSPP.

Drop me your top tickers overnight.

_______________________________________________________________

GM

Flatter Than a Pancake Again

6d96eaf43bf2e0c3339e82bce23b7c7d

Into the bell, I flattened out again, closing some small winners and losers inside 12631. My main focus is still on staying in hit-and-run mode on both sides of the trade, including inter-market opportunities.

Avoiding big drawdowns is key for my style of trading, which is why I have no problem moving back to the sidelines with a near-full cash position again until we gain more clarity into the market’s next direction.

Today was a wild morning which led to a grinding afternoon.

Precious metals are still trying to fight the good fight.

More in my video market recap after the bell….

Assuming Leadership

1DLIDRm

As a follow-up to my morning post and ongoing analyst of the precious metals and miners, it appears silver is temporary assuming the leadership role in the space.

On the intraday chart, you can see the silver ETF chart coiling all day. This a tight consolidation on this particular timeframe, though the overall picture remains sloppy.

Gold miners are coming in some today, though are still within yesterday’s price range.

Thus far, the upside reversals from last night in the metals themselves are largely holding. Further upside from here should bode well for a bear trap on the recent downticks.

SLV now likely need a move over $19.
_________________________________________________

SLV

 

 

Walking it Up and Down

fgyM0sx

Here we have a 15-minute IWM ETF small cap chart stretched back several days, illustrating the wild price swings we have seen of late.

In particular, today’s action has featured violent moves, with some selling coming back into the market just now. We have yet to see resolution from the consolidation after an initial snapback rally last week. So, I am staying extra nimble with a tight leash on all positions.

While Apple continues to shine, I still do not view the stock as a market leader. Marquee names like NFLX UA are being sold down after reporting strong numbers.

_______________________________________________

IWM

Five Stocks Which May Appear Larger Than the Market Today

na6F67M

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.

________________________________________________________

2014-04-24_1244

Latest Titanic Readings in Case of Iceberg

Titanic-sinks1

Here are some actionable short ideas on this list, especially if the market sees another day of weakness.

Courtesy of The PPT algorithm, here are some very aggressive ideas for short trades headed into Friay. If you are not comfortable shorting (especially in a bull market), there is nothing wrong with taking a pass. Keep those cover-stops in place.

Nonetheless, a good chunk of readers are always looking for short ideas.

Members of The PPT can click here to view and save this “Titanic” Screen, as I named it when I created it a few years back. The screen isolates stocks vulnerable to further weakness.

Please click on image to enlarge 

________________________________________________________

2014-04-25_0050

Late Night Strategy for Friday

RAuXdFm

Consistent with a blog post I wrote on Thursday, I am looking at General Motors again on the short side if price moves back down through $34. There is still a major topping pattern in play here, seen on the daily chart, below.

And some long ideas holding up well, if we see a broad market bounce: ANR H RSPP.

Drop me your top tickers overnight.

_______________________________________________________________

GM

Flatter Than a Pancake Again

6d96eaf43bf2e0c3339e82bce23b7c7d

Into the bell, I flattened out again, closing some small winners and losers inside 12631. My main focus is still on staying in hit-and-run mode on both sides of the trade, including inter-market opportunities.

Avoiding big drawdowns is key for my style of trading, which is why I have no problem moving back to the sidelines with a near-full cash position again until we gain more clarity into the market’s next direction.

Today was a wild morning which led to a grinding afternoon.

Precious metals are still trying to fight the good fight.

More in my video market recap after the bell….

Assuming Leadership

1DLIDRm

As a follow-up to my morning post and ongoing analyst of the precious metals and miners, it appears silver is temporary assuming the leadership role in the space.

On the intraday chart, you can see the silver ETF chart coiling all day. This a tight consolidation on this particular timeframe, though the overall picture remains sloppy.

Gold miners are coming in some today, though are still within yesterday’s price range.

Thus far, the upside reversals from last night in the metals themselves are largely holding. Further upside from here should bode well for a bear trap on the recent downticks.

SLV now likely need a move over $19.
_________________________________________________

SLV

 

 

Walking it Up and Down

fgyM0sx

Here we have a 15-minute IWM ETF small cap chart stretched back several days, illustrating the wild price swings we have seen of late.

In particular, today’s action has featured violent moves, with some selling coming back into the market just now. We have yet to see resolution from the consolidation after an initial snapback rally last week. So, I am staying extra nimble with a tight leash on all positions.

While Apple continues to shine, I still do not view the stock as a market leader. Marquee names like NFLX UA are being sold down after reporting strong numbers.

_______________________________________________

IWM

Five Stocks Which May Appear Larger Than the Market Today

na6F67M

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.

________________________________________________________

2014-04-24_1244

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