Trading Ideas For Wednesday

Let’s hope these setups are better than the setups I posted last night. I must say, today was just an off day for myself, and it all started bright and early when the letter $X decided to shit on my parade. I’m one for not holding stocks into earning, but every now and then, if I’m in a trade for other reasons than a quick trade, I say to myself it is ok to hold into earnings. And, every time I do, I lose.

Thanks heavens for the $MCP spike than my man ChessNwine called out early on inside our trading room 12631. I was able to grab a piece of that at a fair price and ripped a few points out of it to save my PnL for the day. Check out the notes inside our chat room (Note: you must read from the bottom up since it is a twitter like stream):

Now on to some charts for Wednesday. Let’s first start with my favorite, a position I entered today, $MOBI. I love this break out of the falling wedge. I entered on the break w/ volume and am looking for a move up to $9. I won’t stay long, earnings on Thursday:

You know I’m a sucker for solar, check out this $LDK. I love the spot here right above the 50 day moving average, on strength I will take a shot at this with a stop under the MA:

If gold rips, $NG looks good to go:

Same thing applies to silver, on strength, $AGQ is ripe for the picking:

$KOG, broke out today, looking for follow-through here:

$IO, I’m a buyer above $11.16:

Fly’s recent pick $BLTI does not look half bad here, easy to manage with a stop right under the 200 day MA:

And, for the daytraders, $NEWN has the look. This setup is one of my favorites, and will be on high alert for a breakout trade:

See you guys in the morning inside our trading room 12631.

If you enjoy the content at iBankCoin, please follow us on Twitter