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Trade Ideas

Tickers On Watch

ESI – This one continues to be one of my top picks here. Over Wednesday high of 4.37, and this one heads to $5 quick fast. Disclaimer: Long. 

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CHK – Looking for an entry on this one with strength in oil and gas. Above 11.48, and I may take a stab here.

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CREE – Nice long base on the shorter timeframe, a move above 25.50 may spark this one. Watching….

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CSIQ – And, if oil get hits along with the market, the solars are producing some nice looking bear flags. A move below Wednesday’s low may put this one in play on the short side.

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Be sure to check out the other side of iBC, 12631, our trading room, as we look to take a few of these setups. See you guys at the open.

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New Long

I bought SCTY this morning as it traded above the 200 day moving average. I will stop out of the trade if the stock loses $54.

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Note: Real time alerts can be found inside our trading room, 12631.

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Back In It

I’m back in the $BIS, which means I’m back shorting biotech. You can make a case for a triple top in the IBB. A move back above recent highs in the bitoech ETF, IBB, and I will take the BIS off the table.

IBB daily chart:

Screen Shot 2015-06-04 at 1.07.41 PM

Godspeed traders.

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She’s A Beauty

The $VMW worked well this morning, but I’m not here to talk about that ticker. The $GOOGL is setup on all timeframes and is just about ready to bust a load.

Let’s start with the Monthly 10yr chart, which displays a nice bullish flag/pennant pattern:

Screen Shot 2015-06-03 at 9.49.16 AM__

The daily chart shows all of the moving averages converging underneath price, long time readers know how I feel about this particular pattern. In my years of trading it is the closest thing I have found to the holy grail. The Slow Stochastic is also crossing giving us the buy signal:

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And, if we dial it down to the 30 minute timeframe you can see that this time is now to break free from this range:

Screen Shot 2015-06-03 at 9.54.13 AM



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Trade Ideas For Wednesday

VMW – Still setup nicely here on the 20 day moving average, a move above $88 should get this one in gear. Watch for early strength:

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OAS – If oil is strong, I will look to get long above Tuesday’s high, $17.33

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Also, keep an eye on FMNA, because Option Addict says to watch it (he has always had a great feel for this shit stock). And, don’t forget the BIS if the market falls out of bed here. And, lastly, the GOOGL, because the MAs are lining up nicely– this always produces a strong move.

Feel free to add to the list in the comment section, and don’t forget to drop by the iBC trading room, 12631, during market hours. Good luck today traders.

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New Long

I bought $SSE this morning, and will use the 20 day MA to manage the trade. Here is a look at a daily chart:

Screen Shot 2015-06-02 at 12.16.20 PM

Very thin structure above, and will be using the 200 day moving average as my target. We just need help from cousin Earl, that’s oil for the ill-informed.

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