Stock #Market Recap 04/23/14 {Video}

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

I am Short the Duck of Death

I went short Lowe’s just now, inside 12631, with Gene Hackman commercials and all.

Note the daily chart bear flag threatening a breakdown today.

My cover-stop is a close back over $48.

More on that after the bell on my video market recap. See you there.

_______________________________________________

LOW

 

Do You Believe in CREE-mation?

falling-into-place-01-1024

Beyond an earnings sell-off, I am looking at Cree as a long-term topping out candidate.

The weekly chart below suggests that unless bulls can pull off a dramatic reversal by Friday we are looking at a weekly breakdown below well-defined, multi-quarter support. Given the size of the top, a move back down into the $30′s is not out of the question.

I would consider shorting rallies.

_________________________________________________________

CREE

Fighting the Good Fight at Last Stand Hill

WithTheirBootsOnCustersLastfight

I took a piece off a piece of my NUGT long, entered yesterday into the closing bell inside 12631, for the sake of discipline.

However, gold miner bulls are putting up a valiant fight thus far.

The apparent breakdown earlier this week is reversing higher, opening up the distinct possibility for this being a bear trap.

Still, one step at a time. The metals and miners are far from healed and out of the woods. Stakes are high, and I am not going to become dogmatic. I will simply trade around them and lock in gains when they present themselves, at least partially.

A close over $24.08 would be a good step for GDX bulls today.

Silver continues to lag, but is printing a benign, small doji above the midpoint of yesterday’s upside reversal, which means I still think there is potential for a bottom there.

__________________________________________________

GDX

Energy and Staples Take the Money Cake Again

funny-cake-dollar-money-present

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.

________________________________________________________

2014-04-23_1245

The Fallout from the Coffee Rally

goodfellas-script__3

Regardless of the actual economics, in terms of these firms having locked in long-term coffee prices, I still maintain that coffee stocks like DNKN GMCR SBUX are getting hit in part due to sympathy selling from the rally in the coffee commodity.

In addition, they had all seen terrific rallies and priced in plenty of good news along the way for quarters on end.

Still, Dunkin’ and Green Mountain remain quite weak and vulnerable to more downside, seen on their daily charts, below.

What are you trading this morning?

___________________________________________________

DNKN

___________________________________________________

GMCR

Stock #Market Recap 04/23/14 {Video}

If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

I am Short the Duck of Death

I went short Lowe’s just now, inside 12631, with Gene Hackman commercials and all.

Note the daily chart bear flag threatening a breakdown today.

My cover-stop is a close back over $48.

More on that after the bell on my video market recap. See you there.

_______________________________________________

LOW

 

Do You Believe in CREE-mation?

falling-into-place-01-1024

Beyond an earnings sell-off, I am looking at Cree as a long-term topping out candidate.

The weekly chart below suggests that unless bulls can pull off a dramatic reversal by Friday we are looking at a weekly breakdown below well-defined, multi-quarter support. Given the size of the top, a move back down into the $30′s is not out of the question.

I would consider shorting rallies.

_________________________________________________________

CREE

Fighting the Good Fight at Last Stand Hill

WithTheirBootsOnCustersLastfight

I took a piece off a piece of my NUGT long, entered yesterday into the closing bell inside 12631, for the sake of discipline.

However, gold miner bulls are putting up a valiant fight thus far.

The apparent breakdown earlier this week is reversing higher, opening up the distinct possibility for this being a bear trap.

Still, one step at a time. The metals and miners are far from healed and out of the woods. Stakes are high, and I am not going to become dogmatic. I will simply trade around them and lock in gains when they present themselves, at least partially.

A close over $24.08 would be a good step for GDX bulls today.

Silver continues to lag, but is printing a benign, small doji above the midpoint of yesterday’s upside reversal, which means I still think there is potential for a bottom there.

__________________________________________________

GDX

Energy and Staples Take the Money Cake Again

funny-cake-dollar-money-present

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.

________________________________________________________

2014-04-23_1245

The Fallout from the Coffee Rally

goodfellas-script__3

Regardless of the actual economics, in terms of these firms having locked in long-term coffee prices, I still maintain that coffee stocks like DNKN GMCR SBUX are getting hit in part due to sympathy selling from the rally in the coffee commodity.

In addition, they had all seen terrific rallies and priced in plenty of good news along the way for quarters on end.

Still, Dunkin’ and Green Mountain remain quite weak and vulnerable to more downside, seen on their daily charts, below.

What are you trading this morning?

___________________________________________________

DNKN

___________________________________________________

GMCR