CalebDismuke

CalebDismuke

Technically Speaking Demand at 320 has held going back to February of 2015. If that level fails to hold, the next level of support is at 260, 18% to the downside. Risk What is the probability of a permanent loss of capital? How much of my capital am I going to put at risk? 1%, 3%? You have to make this decision. Remember, deep drawdowns are hard to come...

CalebDismuke

Technically Speaking Price is approaching the support zone, say 72-76 level. The next support level I see on the chart is the 61ish level. For me, the better R/R might be waiting for the latter level to be tested, but it may never get there, that is the risk you run by waiting. Note, if you are a buyer at these levels, determine where you will get out. If you...

CalebDismuke

Technically Speaking As you can see from the chart, the 47.50ish level seems to be a good source of demand, at least in the past and looks like a good entry level for a long, stopping out somewhere below. Leave some wiggle room to account for volatility. Fundamentals Be aware, they announce earnings before the bell on 10/27 CST. Looks like the big slide in...

CalebDismuke

Technically speaking As noted on the chart, price is testing trendline support around 1.4380ish. This line has held on two other tests. Will be interesting to see if it holds this time. The next level of support is not too far down, coming in at 1.43. Canadian manufacturing sales come out at 7:30 a.m. CST. The big economic data this week will be from the Bank of...

CalebDismuke

Technically Speaking As noted on the chart, the pair is approaching a trendline that has held on two other occasions. Aggressive shorts could look to sell now, with a stop above that line or above the 9/29 high of 7710. Warning-Aussie employment data comes out tomorrow the 19th at 7:30 p.m. CST. Major economic news like that can move the market sharply if the...

CalebDismuke

Technically Speaking For me, the 76 level seems fairly important. As noted on the chart, earnings come out on Thursday, so I would be very careful with this stock. If the 76 level goes the 200 WMA is the next spot I would look for demand followed by the 60 level. Fundamentals Walgreens supports a div yield of 1.92%. Link: www.google.com For div history check...

CalebDismuke

Technically Speaking Coming up on the support level at 41.00 and the 200 WMA. A break below possible exposes the next level of demand at 37.00 The stock has only closed below the 200 WMA for a few weeks in 2015. Before that, you have to go all the way back to 2010 to find a period of sustained trading under the 200 WMA. Always know why you are buying a stock or...

CalebDismuke

Technically Speaking A very clear 200 pip or so range has been traced out since the beginning of September. Aggressive traders can buy 114 and sell 116 with stops on either side of the range. As always, trade your plan and stick to it. Here is my checklist, hope it helps others. Is this trade worth taking? * Where is the R/R right now? * Is the market...

CalebDismuke

Technically Speaking The pair is coming up on a confluence of support, the 100 DMA and the 1.30 level. If one is looking to get long, I would watch and see how it handles that level. Fundamentals The Bank of Canada's statement is at 9:00 a.m CST on Wednesday the 17th. Be mindful of major economic events before taking trades. Quote "You miss 100% of the...

CalebDismuke

Technically Speaking The pair has found resistance at the 100 DMA following a better than expected CPI release. Further technical levels are the 38.2% retracement, which is by a big round number 72. If you are looking to short, I would use the 100 DMA and the 38.2% retracement as levels to watch. If you are looking to go long, I would to see if the 71 level held...

CalebDismuke

Technically Speaking Two levels of support are coming up, 132.50, 127.50. If the latter does not hold, it is a pretty steep slide to the next level of demand at 120. I believe the better the better R/R would be to wait for a test of the 127.50, stopping out under 125.00. Remember, we as traders do not have to swing at every pitch. We are looking for mis-priced...

CalebDismuke

Technically Speaking Looks like we will soon see if 1200 can stop the slide. If not, the 1080 level is the next level that showed good demand. What I read today May require a subscirption? www.wsj.com Quote "Nurture you mind with great thoughts; to believe in the heroic makes sense." Benjamin Disraeli H/T to www.mercenarytrader.com They compiled a great...

CalebDismuke

The home of the big mac is entering levels that I believe would be a good place to initiate long positions. Say b/w 105-115. I would stop out under 102.50 They also support a dividend yield of 3.27% Link: www.google.com Their dividend payout has been rising at a nice clip, so it seems pretty safe. Link: www.nasdaq.com As always, have a plan before you enter a...

CalebDismuke

The 2120 level is a key level, in my view. A hold here to finish the week would be a good sign for the bulls, in my opinion. If the 2120 level breaks I will be watching the 2040 level. Retail Sales and PPI comes out tomorrow at 7:30 CST, maybe that will push it one way or the other. A little volatility would be nice:)

CalebDismuke

Gopro nearing pivot level at 14.00 If I was looking to get long, I would lean against 14.00 and stay long as long as that level holds. I would stop out under 12.00. The 20 level is the next obvious level of supply, but after that it is pretty open. Gopro has underwhelmed investors since going public, hence the steep slide. In my view, stock prices reflect the...

CalebDismuke

Technical First off, I do not suggest shorting companies based off fundamentals. I believe there are 17 pure short hedge funds out of 10,000 or so that run a fundamental short book. I have no edge over them. H/T FT Alphaville podcast with Jim Chanos, great listen. This is purely based on technicals. The trading range, as I see it, is 92-120. Strategy- sell 120...

CalebDismuke

I have found that big round numbers tend to draw out the orders. This has been confirmed by ex-bank traders I have chatted with and my observing the market over the years. I tend to think of support and resistance as zones, not a hard number. Remember, the only way you can win is if other traders enter orders on your side of the order flow. So the question I ask...

CalebDismuke

Gold miners are in a similar position to GLD, both are nearing there 50% retracement levels. If you are a long-term trader, right here would be a nice entry. I would stop out under 17.50. I know some like to wait for price action. That is an option, however, I have sometimes found price action does not always cooperate and you miss the move.