The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out). which I published for members and 12631 subscribers this past Sunday. 

The shipping industry was a space we looked at several weekends ago. The initial thrust higher in the group has been digested in recent sessions.

To my eye, PRGN is the best technical set-up in the shippers, with an initial long trigger if it can close over $7.50. 

And tankers STNG TK are ripe long ideas as well. Scorpio has a $12 trigger, and I like Teekay back over $48.13.

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I have been talking a lot about (and trading) the soft commodity ETF/ETN’s of late, not necessarily calling a major bottom to them but initially looking for a snapback bear market rally.

To all of those enamored with the supply/demand and season trends, tell me your best soft idea, as I am looking at them almost purely from the technical perspective.

Some softs of note: BAL CORN JO SGG

In addition to coffee, I just went long another soft commodity inside 12631 today, one which was a monster loser in 2013 but is trying to hammer out a bottom.

Other than that, it is a true mixed bag today in terms of momentum movers in the tape.

A name like ALGN is still worth watching for a nice base breakout.

More on coffee and assorted goodies after the bell.

http://www.youtube.com/watch?v=hfKIeCry_S8

JO looking more and more like a New Year’s Eve bear trap…

Still bullish on coffee.

Still seeing some sympathy selling in SBUX DNKN 

While the likes of P SCTY Z squeeze shorts, CELG FSLR AMZN and many other marquee names are struggling noticeably.

Celgene was a major biotech winner in 2013. But the first chart below of the daily timeframe shows a gap down this morning from the recent consolidation.

On a more bullish note, keep an eye on small cap casino play ISLE, second chart below. If you don’t mind trading small and thin, that is a nice bull flag.

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