Friday, September 23, 2011

$GLD - Gold Plummets to Weekly Support

Gold has fallen the most since the financial crisis of 2008. Technically the charts are showing gold dropping to levels that have been good buys in the past. However increasing selling volume this week could indicate more selling to come.

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Sunday, September 18, 2011

Trade Ideas - $GLD, $TZA, $PANL, $DUG

$GLD - Could be forming a base as Friday there was bullish engulfing candle. This could indicate that gold will continue to trade up in this box. With the uncertainty and lack of agreement on the European debit issue, I see this headed ultimately higher.

$TZA - I see the $RUT topping out after several up days. I think this is a good short term play.

$PANL - This stock is on fire with almost no overhead resistance. I'm looking for more pullback this week and pouncing on it.

$DUG - Short oil & gas play I have mentioned before. It's trading in a range and right now oil seems to be in the top of that range (see $XOI index). I see this at support but I would sell around $35 or before.

Major Indices - $SPX, $COMP, $RUT. $VIX

$SPX(SPY) - Running into resistance. Approaching the 50% retracement from July highs, 50ma catching up to it as well. RSI seems to be indicating a gradual rise in strength as the market oscillates. 

$COMP - Nasdaq is looking strong, over the 50% retracement and over the 50ma, RSI looking strong as well. This is in large part because of $AAPL strength right now (hitting $400 level).

$RUT - Coming up against some resistance, RSI seems to be flattening round the 50 level.

$VIX - Seems to be range-bound. 50ma coming up for possible support. The $VIX trading up in this range and staying there is an indicator that there is still a lot of uncertainty in the market.

Monday, September 12, 2011

Trade Ideas - $MAKO, $AXP

MAKO - Mako Surgical, they make a robotic arm used in knee replacement surgeries. The technique drastically recovery time. They have 2 primary revenue streams: The machinery itself and components that have to be replaced after each surgery. This double income stream is analogous to desktop printers (you to buy the printer and eventually need proprietary ink parts replaced)

This company just started turning a profit and approximately 581,000 knee replacements are performed each year in the United States. This could be a good growth stock.

AXP - American Express, at a good buy point, showing a bullish piercing reversal candle.

Tuesday, September 6, 2011

SPX - Set For Reversal?

Bullish candle formation today. Could signal a reversal ahead of Obama's jobs speech.

Trading Ideas - MAKO, DIG

MAKO - Inverse head and shoulders pattern.

DIG - Crude hitting support.

Crude index trading in a box. At some point we will see a breakout from this box either to the upside or to the downside.

Thursday, September 1, 2011

Shorting Ideas Before The Holiday Weekend

NFLX - I've talked about this before. The head and shoulders pattern was broken and it broke though the neckline. Today after market Starz announced they were pulling their content. The stock pulled back afterhours 8% this puts it right back at the neckline. I want to short this but Im going to be cautious. Watching this closely tomorrow.

SPXU - SP500 at resistance, shorting at support with a tight stop.

DUG - Inverse ETF of crude oil.

Crude index