Today’s action caused a lot of bullish setups on my watchlist to fail. We had a perfect chance for the overall market to break out from this trading range, yet we failed, again.
I would have loved to see a powerful breakout to the upside today.
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Today’s action was extremely bearish for one of my new swings, Gushan Environmental Energy Limited [[GU]] . This one looked like it had so much potential early on, based on the chart it had every opportunity to spring off the 50 day, yet failed. This just goes to show you how powerful a move can be when the 50 day fails.
Metalico, Inc. [[MEA]] also looked great early on, but today’s candle was less than bullish.
My two swings, highlighted above, will be cut immediately on further overall weakness. This is no time to hold stocks if they are not working, volume will be light for the remainder of the year, and sellers will come in to clear position sheets as we head to the New Year. If a trade is not working, get out and move on.
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Here are a few bullish setups I will be watching tomorrow:
SandRidge Energy Inc. [[SD]]
Pride International, Inc. [[PDE]]
E TRADE Financial Corporation [[ETFC]]
Headwaters Incorporated [[HW]]
And, on the short side, Fuqi International, Inc. [[FUQI]]
I think BOOM looks weak. Looking for 17.36 minimum. 15s possible.
short-term bearish on BOOM with close below 50 day, looks like it’s headed to lower range of apex, but I wouldn’t write off BOOM for a breakout in the near future.
I had a change of heart, bot some BOOM today.
ATI news hugely bullish for BOOM; ATI is sales agent for BOOM in many growth markets.
I saw that. BOOM’s time is coming.
I had some info that ATI was sniffing around BOOM, long before the emerging market JV was announced. I’ve always thought ATI would take BOOM out. Never came to pass.
Hell, the market cap ATI added today alone would pay for BOOM a couple of times ovah!
Been long ATI for quite a while
A fairly large position at that
congrats
WFT stuck in down channel but let’s see if the UBS buy rec with a $24 target can get it to break through the upper trend line …
If the Financials can recapture a leadership role then CVBF could be interesting if it can remain above the 50 and the apex of the triangle breakout …
Love oil & gas stocks here, a bunch of bullish charts.
Got some ECA when it bounced off the 200-day MA at below $28. Looks good to move to the recent high at $33.5 if NATGAS holds up ’til new years. We need another cold front, stat!
On FUQI, would you want to wait until it breaks its 200DMA also? It seems that you might get a pretty decent bounce off that.
Correct, 200 day should provide solid support, however if that fails, this one is headed much lower.
It is going to be another great call on SD for sure .
Market down and SD is positive and it is on edge of breakout …..
thanks RC
YONG secondary has really broken the pattern and then some
Following everyone into SD – amazing strength today
YONG is dead for now.
SD is on a mission today.
rexx seems to be following thru
REXX is still good, I want to see it trade above 11.75
Also, keep an eye on ROYL, Small name that can rip.