Late Night Strategy for Wednesday

romecav_aerial_at_night-lowres

Into upside follow-through from Tuesday’s reversal, I consider RRC to be the best long idea I see in the tape right now for my style of trading.

On the daily chart, below, note the well-defined sideways base dating back to late-January. Energy stocks have been hot of late. And I expect this one to benefit with a move over $90 for a major coiled spring breakout higher.

Overall, bulls want to see the vast array of upside reversal candlesticks on Tuesday confirm higher on major buy volume.

If we see the midpoint of Tuesday’s range lost on the major averages, however, make sure you have concrete stop-losses in place to avoid a summer 2011 waterfall.

Drop me your top tickers overnight.

_________________________________________________________________

RRC

Stock #Market Recap 04/15/14 {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

Smoking a Ton of Cashish Into the Bell

sam_farha_mainpage

I am 100% cash here, having covered all of my shorts and closed inter-market positions out as previously noted here and inside 12631 earlier today.

There are now some very important technical considerations in play here, all of which I will discuss in detail in my video market recap after the bell today.

See you there.

I Rode the Wave

SqhXSFG.png

And now I am off of it.

I am out of all my shorts here, all for wins, including long RUSS DXD (inverse, levered ETF’s), long TVIX (day-traded this for a win), and short COH GM TJX UNP, among others, in recent weeks, including SBUX V. 

My only underwater position right now is down less than 1% on CORN long, which I am debating holding as we speak ($35 is still the nut, errrr, stalk, to crack).

Whether bulls can sustain a true bottom here remains to be seen. But the Nazzy and Russell are both bouncing off their respective 200-day moving averages, which is a test you know I have been looking for a while now. I still see some downside risk due to a lack of a washout yet, and am considering the possibility for choppy, grinding action into the long holiday weekend.

And that is another reason for me to move to almost full cash here.

Simply put, it is time for me to cash up and reevaluate the tape after no drawdowns of any substance and a string of wins on the short side inside 12631 in recent weeks.

Sniper shorts are always on the move…

 

Afternoon Roll Call

0Y2ShUn

Here are some bullet points this afternoon of what I am seeing in the tape:

  • I am still watching 1840 overhead on the S&P 500 Index. 
  • Dip-buyers continue to show up at yesterday’s lows (and Friday’s) on the S&P.
  • We have yet to see a super-spike in fear or panic selling, which is often seen at tradable bottoms.
  • A few short ideas I am watching bear flag here: AXP NKE TGT V 
  • The best-acting softs today: CORN SOYB WEAT 

Here’s Looking at 1840, Kid

article-1206

The overhead supply we discussed yesterday at the 1840 area on the S&P 500 Index is playing out thus far today, seen below on the daily chart.

I still see leaders leading to the downside, namely the small caps, biotechs, and high growth Nasdaq stocks all with room to drop further before becoming very oversold.

I am still short biased, though trading around my positions to lock in gains for the sake of discipline and not letting the wild swings in this market adversely affect me.

It is important to remain level-headed in this type of market, especially, and not throw caution to the wind because it seems as though we simply cannot go lower. In reality, a true market correction, even within an ongoing bull market, can become wildly oversold before a tradable bounce or bottom ensues.

At any rate, I am not yet looking for longs here with the S&P below 1840. If bulls can pull off a stunning close above it then I would consider a few names holding up well as long ideas, such as the energy patch stocks I have previously referenced.

Some short ideas setting up again: DNKN F GM 

______________________________________________

SPX

Late Night Strategy for Wednesday

romecav_aerial_at_night-lowres

Into upside follow-through from Tuesday’s reversal, I consider RRC to be the best long idea I see in the tape right now for my style of trading.

On the daily chart, below, note the well-defined sideways base dating back to late-January. Energy stocks have been hot of late. And I expect this one to benefit with a move over $90 for a major coiled spring breakout higher.

Overall, bulls want to see the vast array of upside reversal candlesticks on Tuesday confirm higher on major buy volume.

If we see the midpoint of Tuesday’s range lost on the major averages, however, make sure you have concrete stop-losses in place to avoid a summer 2011 waterfall.

Drop me your top tickers overnight.

_________________________________________________________________

RRC

Stock #Market Recap 04/15/14 {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

Smoking a Ton of Cashish Into the Bell

sam_farha_mainpage

I am 100% cash here, having covered all of my shorts and closed inter-market positions out as previously noted here and inside 12631 earlier today.

There are now some very important technical considerations in play here, all of which I will discuss in detail in my video market recap after the bell today.

See you there.

I Rode the Wave

SqhXSFG.png

And now I am off of it.

I am out of all my shorts here, all for wins, including long RUSS DXD (inverse, levered ETF’s), long TVIX (day-traded this for a win), and short COH GM TJX UNP, among others, in recent weeks, including SBUX V. 

My only underwater position right now is down less than 1% on CORN long, which I am debating holding as we speak ($35 is still the nut, errrr, stalk, to crack).

Whether bulls can sustain a true bottom here remains to be seen. But the Nazzy and Russell are both bouncing off their respective 200-day moving averages, which is a test you know I have been looking for a while now. I still see some downside risk due to a lack of a washout yet, and am considering the possibility for choppy, grinding action into the long holiday weekend.

And that is another reason for me to move to almost full cash here.

Simply put, it is time for me to cash up and reevaluate the tape after no drawdowns of any substance and a string of wins on the short side inside 12631 in recent weeks.

Sniper shorts are always on the move…

 

Afternoon Roll Call

0Y2ShUn

Here are some bullet points this afternoon of what I am seeing in the tape:

  • I am still watching 1840 overhead on the S&P 500 Index. 
  • Dip-buyers continue to show up at yesterday’s lows (and Friday’s) on the S&P.
  • We have yet to see a super-spike in fear or panic selling, which is often seen at tradable bottoms.
  • A few short ideas I am watching bear flag here: AXP NKE TGT V 
  • The best-acting softs today: CORN SOYB WEAT 

Here’s Looking at 1840, Kid

article-1206

The overhead supply we discussed yesterday at the 1840 area on the S&P 500 Index is playing out thus far today, seen below on the daily chart.

I still see leaders leading to the downside, namely the small caps, biotechs, and high growth Nasdaq stocks all with room to drop further before becoming very oversold.

I am still short biased, though trading around my positions to lock in gains for the sake of discipline and not letting the wild swings in this market adversely affect me.

It is important to remain level-headed in this type of market, especially, and not throw caution to the wind because it seems as though we simply cannot go lower. In reality, a true market correction, even within an ongoing bull market, can become wildly oversold before a tradable bounce or bottom ensues.

At any rate, I am not yet looking for longs here with the S&P below 1840. If bulls can pull off a stunning close above it then I would consider a few names holding up well as long ideas, such as the energy patch stocks I have previously referenced.

Some short ideas setting up again: DNKN F GM 

______________________________________________

SPX