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
Posted in Trade Setups | Tagged: AFL, BID, CIEN, DVY, DXD, EMN, FTO, GMXR, SNDK, USG, WSM | Leave a Comment »
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
Posted in Trade Setups | Tagged: AFL, DVY, DXD, FTO, GMXR, MITI, NCR, TQNT, USG, WSM | Leave a Comment »