Dennis Kneale’s latest video found here. Careful, Dennis.
Comments »A Look Ahead
Long Opportunity
If you’re a member of The PPT, then you have access to research reports for experenced professionals in the business. Well, one of the reports feature today on the blog is [[ATVI]] , I will save the details for members, but display the chart.
Currently, ATVI is in a great spot to buy with the stock trading right on its uptrend line. I say it’s a great spot, because if wrong, you can easily cut your losses if it breaks below the current uptrend. Risk/Reward; a few cents down, a few points up.
Comments »Short Opportunity
If the market begins to roll over take a look at Research In Motion Limited (USA) [[RIMM]] . The stock is trading right back to former support, which has now become resistance. Your stop will be around $67.55, anything above that and you want to be out of the trade.
Previous notable call.
6mo Chart:
Comments »Links
Ready To Dive Into A Few Inverse ETFs
Technically, the market looks terrible. Looking at the charts, the right shoulder is just about ready to dive off a cliff. However, we may see some buying today after a week of blood, but as for me, I will sit this one out on the buy side.
In my opinion we will see a lot of stocks retrace back to the area of support– now resistance, this will be the right time to short a few names.
The inverse ETFs are all looking great with signs of bottoming in the charts. Part of me just wants to load up on a few and call it a day, but I won’t–just yet.
I will use today’s strength to get out of a few names on the long side, and will raise my cash position significantly. By the looks of things, we have a big move coming, and it’s not up. It’s going to take some good news to get this market moving.
Trade accordingly.
Here’s a look at a few Inverse ETFÂ charts: SMN, TZA, FXP, SRS, QID, DUG, FAZ, ERY, & BGZ.
Comments »