Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

The King Always Did Have Game


While classic fast food plays like MCD YUM are sporting broken chart, Burger King is best in class, albeit with JACK SONC making for good company in the bull camp, too.

On the daily chart, below note the strong upside follow-through to last week’s breakout from a consolidation within the context of an uptrend.

BKW‘s new menu variations are likely a hit with the market, as the firm put new twists on its old sandwiches

If the stock sees benign pauses, I consider it an actionable long idea later this week, especially if dip-buyers keep doing their thing in the broad market.



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A Militant Market


The violent, back-and-forth gaps and price swings during the cash sessions in this market of late is not yet abating, as new longs for late-last week are being put to the test this morning.

Leading to the downside are the small cap stocks housed in the Russel 2000 Index, a critical part of the market indeed and still in grave danger of failing at a lower high on this two-week bounce.

On the 30-minute chart for the small cap ETF, below, note the potential rising channel breakdown of that rally off recent swing lows.

This type of action is enough to keep me sidelined in cash and looking at the short side. Until this chart negates the breakdown threat I am not too interested in fresh money longs.

Also note crude oil breaking below $80 this morning, likely also adding to pressure on equities due to deflation concerns. If that move holds, I am still considering crude shorts via DTO SCO ETF’s.



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Night Owl Open Forum


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.

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Late Night Strategy for Monday


The WhiteWave Food Company is back on the radar as a long idea on any further strength this week, especially if the broad market cooperates and continues to rally. I still view this firm as an attractive buyout candidate, to boot. Also note the reasonably solid daily chart technical setup, below.

And if the market rolls back over, I am looking at F GM as short setups.

Drop me your top tickers overnight.



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Sunday Matinee at Chess Cinemas


Body Heat (1981) is a steamy thriller set during the hottest of the hot weather in Florida. Kathleen Turner, in her prime, plays a devious woman who convinces her lover to murder her wealthy husband.

William Hurt, Ted Danson, and Mickey Rourke also headline the cast.

The film is referenced often for its steamy sex scene. But, on the whole, it is a strong film on the merits.

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