Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

Back to the Future with These Two Iconic Brands

pop_culture_portraits_16

I am looking at Burger King as a long idea, especially over $32, with $29 below needing to hold. Note the decent technical setup on the first daily chart, below.

And General Motors is still a short setup, reversing lower today on the daily chart, second below.

What are you trading this afternoon?

________________________________________________________________

BKW

________________________________________________________________

GM

Eluding the Illusion

qOtVtUk

Biotechnology stocks continue to give off an aura of invincibility, as demonstrated by the biotech sector ETF’s latest V-shape rally from just below its 200-day moving average to new all-time highs…in just a matter of days.

At this point, it is hard to see bears being able to hold the broad market initiative for more than a day or two unless we see a meaningful downside reversal which holds in this sector. CELG REGN appear to be leafing the group, while BIIB GILD are slightly lagging and not making new highs today.

I have taken a few shots on the short side but have not been stubborn with them–There will be plenty of time to press and hold when the market finally does crack.

For now, biotechs are part and parcel of the pain trade for underinvested fund managers who need to chase performance into year-end.

The monthly sector ETF chart, below, illustrates my point, with a steep ascent coupled with October’s enormous and rare monthly candle, obviously well off the lows.

______________________________________________

IBB

 

Five Stocks Feeding Off the Big $CAT Today

QGlZuLP

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.

________________________________________________________________

2014-10-23_1217

Are You DTF?

$_35

Down to Fiesta…that is.

With the likes of select casual and fast food plays, such as DPZ JACK, making new highs today, keep an eye on Fiesta Restaurant group as a long setup if it can clear $52 again to the upside.

I have mentioned this one several times before, as it seems to be distinguishing itself among many of its peers in terms of finding buyers in each market pullback. They have a solid brand of casual restaurants (Taco Cabana, e.g.) and may very well be a buyout target, to boot.

_______________________________________________

FRGI

 

High Yield Corporate Algo Gone Wild

775px-Billionaire_Bot

I am back to cash after taking 2.7% and 5.2% losses on my shorts, wiping the slate clean into the market’s gap higher which is holding, thus far.

You can see the high yield corporate paper ETF, below, also sporting a gap up this morning.

However, this one faded off of what looked like a fat finger/algo-gone-wild trade. When you see a candle like the one below, it is tough to do much of anything–The chart is still damaged but now is clearly stop-running shorts to the upside and doing some cleaning work before the next real move.

I still think junk and high yield corporates are key parts of the fixed income market to watch going forward, related to equities.

_______________________________________________________________________

HYG

Night Owl Open Forum

night-owl

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

Back to the Future with These Two Iconic Brands

pop_culture_portraits_16

I am looking at Burger King as a long idea, especially over $32, with $29 below needing to hold. Note the decent technical setup on the first daily chart, below.

And General Motors is still a short setup, reversing lower today on the daily chart, second below.

What are you trading this afternoon?

________________________________________________________________

BKW

________________________________________________________________

GM

Eluding the Illusion

qOtVtUk

Biotechnology stocks continue to give off an aura of invincibility, as demonstrated by the biotech sector ETF’s latest V-shape rally from just below its 200-day moving average to new all-time highs…in just a matter of days.

At this point, it is hard to see bears being able to hold the broad market initiative for more than a day or two unless we see a meaningful downside reversal which holds in this sector. CELG REGN appear to be leafing the group, while BIIB GILD are slightly lagging and not making new highs today.

I have taken a few shots on the short side but have not been stubborn with them–There will be plenty of time to press and hold when the market finally does crack.

For now, biotechs are part and parcel of the pain trade for underinvested fund managers who need to chase performance into year-end.

The monthly sector ETF chart, below, illustrates my point, with a steep ascent coupled with October’s enormous and rare monthly candle, obviously well off the lows.

______________________________________________

IBB

 

Five Stocks Feeding Off the Big $CAT Today

QGlZuLP

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.

________________________________________________________________

2014-10-23_1217

Are You DTF?

$_35

Down to Fiesta…that is.

With the likes of select casual and fast food plays, such as DPZ JACK, making new highs today, keep an eye on Fiesta Restaurant group as a long setup if it can clear $52 again to the upside.

I have mentioned this one several times before, as it seems to be distinguishing itself among many of its peers in terms of finding buyers in each market pullback. They have a solid brand of casual restaurants (Taco Cabana, e.g.) and may very well be a buyout target, to boot.

_______________________________________________

FRGI

 

High Yield Corporate Algo Gone Wild

775px-Billionaire_Bot

I am back to cash after taking 2.7% and 5.2% losses on my shorts, wiping the slate clean into the market’s gap higher which is holding, thus far.

You can see the high yield corporate paper ETF, below, also sporting a gap up this morning.

However, this one faded off of what looked like a fat finger/algo-gone-wild trade. When you see a candle like the one below, it is tough to do much of anything–The chart is still damaged but now is clearly stop-running shorts to the upside and doing some cleaning work before the next real move.

I still think junk and high yield corporates are key parts of the fixed income market to watch going forward, related to equities.

_______________________________________________________________________

HYG

Previous Posts by chessNwine