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Archive for the ‘Trade Setups’ Category

New Watchlist Setups for Thursday 1/28

Posted by lasertrader on January 28, 2010

Wednesday was a busy day both with many shorts triggering and the SPX hitting it’s downside target and reversing on volume. Its always important to know the Big Picture which is described here here . A bounce was expected and when the volume came in I decided to remove all shorts (and short related trades) until we see how the bounce materializes. For now I remain nimble on swing setups and will remove them quickly as the market reaches important levels.

On Wednesday the following stocks triggered short WSM, AFL, DXD (long but a short ETF), EMN, DVY and USG. All of these were closed shortly after the market bottomed and were closed along with the FTO and GMXR shorts. All were at a small profit except for one.

Three new long setups are being added to the watchlist today. SNDK, BID and CIEN

SNDK long over 30.20

BID long over 25.50

CIEN long over 13.50



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New Watchlist Setups for Wednesday 1/27

Posted by lasertrader on January 27, 2010

On Tuesday 3 trades triggered TQNT long, FTO short, and GMXR short. With the gaps we have been experienceing I cannot emphasize enough that you enforce the first 30 minute rule. Don’t automatically take any alerts that go off shortly after the market opens on a gap in the stock price. Give things a chance to settle down and look for a retrigger or another valid entry near the trigger price.

There are two more shorts added to the Watchlist today but I suggest we pay attention to the Big Picture realizing that we are at or near a point in the markets where we could expect a bounce off support. Keep a short leash on any new short positions added today in case the market decides to start a relief bounce.

EMN short under 57.50

RHT short under 27.30


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New Watchlist Setups for Tuesday 1/26

Posted by lasertrader on January 26, 2010

We aren’t ready to put on swing short yet, we will be after a bounce. Read the Big Picture here for a look at the SPX. For now I remain in daytrade mode until better setups are found on the charts. Here is a list of some of the setups I have for Tuesday. Be nimble and quick with all of these and manage the trade actively. Some may turn into longer term hold but for now I will take what the market gives me.

NCR long over 12.64

DXD long over 30.90

TQNT long over 6.51

MITI long over 8.39

DVY short under 43.25

AFL short under 49.45

USG short under 13.60

WSM short under 19.80

FTO short under 12.97

GMXR short under 11.45


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New Watchlist Setups for Monday 1/25

Posted by lasertrader on January 25, 2010

The markets had their decisive break of the channel last week and continued down strongly for 2 days. We are at or close to being very oversold and I expect a bounce in the next day or so. Please read The Big Picture here for thoughts on targets to the upside.

For swing trading its very important to enter the market at the proper time. One of those time will be coming up in the next day or two. The bounce will finally setup some nice short candidates and I encourage you to be patient and wait for the proper setup. Hopefully I will be able to find some nice setups tomorrow or Wednesday.

For now I remain in daytrading mode taking small profits when offered. There is a lot of sector rotation going around with each sector taking turns getting hit.

A couple of potential long scalp stocks for your radar are APWR, AAPL, RINO, CREE . Plan your entries and exits carefully.


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New Watchlist Setups for Thursday 1/21

Posted by lasertrader on January 21, 2010

The market continues to bounce violently within the well defined channel as discussed in the Big Picture here.

Yesterday the HLF long position was stopped out for a loss and the PBR setup was entered short. the RAX trigger alert went off but I did not take it given the extreme downward pressure on the markets at the time. I left that trigger/alert rearmed.

There are no new additions to the watchlist for today. There are times to be in the market and times to step aside and wait for better setups in a trend. I see many traders getting chopped up by the violent swings with the current market channel. It is best to wait for a break of this channel to hold before initiating swing positions.

Good Luck today!


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New Watchlist Setups for Wednesday 1/20

Posted by lasertrader on January 20, 2010

For those of you that sat there yesterday not believing what you saw here is an interesting article from Dr. Brett Steenbarger (Author of “The Psychology of Trading”). Be sure to read the Big Picture here for an overall take on the market action.

What a day we had Monday. Many of the setups that I removed after Fridays swoon triggered and ran nicely. AAPL was the best one. I am not putting AAPL on the Watchlist today but its worth watching and perhaps holding a position as it breaks to new highs. AAPL has earnings on Monday of next week so keep that in mind if you do take the trade. As we saw from INTC and IBM the market is selling excellent earnings and guidance in the large caps. Another stock in play today is CREE. CREE had blowout earnings and guidance. I listened to the conference call and they are set to continue to grow for a long time to come. Their main business is LED lighting which is very low energy compared to common lighting and this can be a significant sector.

HLF triggered yesterday but hasn’t run. Hopefully some more volume will come in to support a continuation up.

There are two additions to the watchlist for today. BCSI and MAS long. MAS is of particular interest because it is in the process of breaking out of a multi month base (bring up a monthly chart).

BCSI long over 31

MAS long over 15.70


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New Watchlist Setups for Tuesday 1/19

Posted by lasertrader on January 18, 2010

Now that we have options expiration behind us maybe we can get some nice trades going again. Friday’s action invalidated a number of long setups in the leading momentum movers from the previous weeks such as the AAPL and CAT setups but RAX hang in there. This is why we don’t take the trades until the actual alerted trigger price is hit. Front running the setups usually results in losses.  We have a few Longs to watch and one short going into Tueday. The Big Picture of the SPX can be seen here .

Here are the watch list setups

RAX Long over 23.52

HLF Long over 44.75

WATG Long over 14

NKE Long over 66.50

PBR Short under 44.80


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New Watchlist Setups for Friday 1/8

Posted by lasertrader on January 8, 2010

My scans showed a lot of continuation trades but no new long setups to add for Friday. I am adding two potential shorts to the watchlist that will give me some exposure if the market decides to pull back or take a breather.

Two of the long holdings moved up nicely on Thursday (CYD and JOYG). I will be watching these closely to lock in gains if the market weakens.

Note: These setups are not intended to trigger immediately. Sometime they do and sometimes it takes a couple of days. All open setups are listed on the Trade Setup Status page.

BIDU short 398.75

POOL short 18.45


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Trade Setups for Wednesday 1/6/10

Posted by lasertrader on January 6, 2010

On Tuesday morning the CAAS and RAX stups for the day opened with a large gap up. In order not to get caught in a whipsaw I usually wait past the first 5 minutes before acting on a trade alert trigger. CAAS gapped and ran without me and I chose not to chase it. RAX gapped and crapped immediately and did not hit the trigger again all day. RAX remains on the setup list for today. I did enter JOYG at the trigger price. As often occurs with short setups, HIG and GT broke strongly to the upside and no longer are short setups so they will be removed from the trade setups.

Portfolio position WBD continues to move up nicely, however, AHD just seems to be flat. I will watch AHD today and maybe take the position off it it doesnt show any life. I would prefer to hold things that are moving.

Two long setups have been added today (CTRP and CYD) and no short setups.

CTRP Long 76.60

CYD Long  17.14


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Trade Setups for Tuesday 1/5/10

Posted by lasertrader on January 4, 2010

Today WBD and AHD triggered long. AHD was moving quickly through the trigger point so the position was taken a little above the trigger. The AHD breakout didn’t keep running and did pullback in the afternoon but managed to close right at the breakout level. This will have to be watched closely and if it doesnt move up tomorrow it may be prudent to close the position early. WBD triggered and broke up nicely and then coiled for the rest of the day. Hopefully it will see another push up on Tuesday.

There are many long setups for Tuesday (which is always a red flag) but the ones that I will be looking for are JOYG, CAAS and RAX long. There is one short setup to add in case tha market does start a pullback and that is HIG short.

JOYG long 56.35

CAAS long 21.15

RAX long 23.25

HIG short 22.85


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