Bullish Case: Australian Central Bank did not lower rates as many were expecting. Price broke out of a flag consolidation to the upside a couple of days back.. Test of support at ~0.9270 was a success. Still too many shorts. Double bottom. Heavy support in the .9200-.9270 range. Bullish Trade: Long at .9400, Stop: Close below 8 day MA on Volume, Target 1: .9500,...
Tom Stolper (GS FX strategist) came out with a bearish call yesterday (SHORT below 97.30. Target ~$94.30) I am actually looking for the reverse to happen. His calls in the past have been pretty 'sketchy' to say the least. I am long from $97.25 with a stop onclose below $97. If this trade works I think short-term it should try for $100 resistance again (might...
Price has been compressed in a range for a long time now (i.e. breakout either way should be explosive). Good risk-reward setup.
Going Tier 1 size long at these price levels. I would add heavily to my position if price breaks above the H&S neckline. Currently there is strong support around the .9000 area. I am also watching the DXY index for USD bullish trend confirmation. The technicals don't look too pretty right now. But I think the price is in a buying zone. This trade is high...
Purely speculative long for portfolio. Only buying Dec. $10 calls vs today's low (risk defined). Looks like a false breakdown from the bullish descending wedge. Not going to touch common shares. 5Y CDS on JCP is still high. If markets were to break down hard to see how JCP would hold up.
Starting Tier 1 short here with Dec. 185 puts. Will start selling common if price goes to $200-$220 range. Expect the trade to be of intermediate nature. Markets are pulling back too. Just like any other MoMo stock (AMZN,NFLX, Old AAPL) technicals have not caught up with fundamental yet. I would highly recommend reading Damadoran's fundamental analysis (free on...
Looking to go short. Waiting for some kind of bearish reversal confirmation. It seems to be putting a blow-off top. RSI and MACD not confirming highs. Price is testing long term channel resistance. Its getting ridiculous now. Chart almost identical (but weaker) to XLY Although I am going to wait for SPY to put in some kind of a top.
Looking to go short. Waiting for some kind of bearish reversal confirmation. It seems to be putting a blow-off top. RSI and MACD not confirming highs. Price is testing long term channel resistance. Its getting ridiculous now. I am going to wait for SPY to put in some kind of a top.
Short around $36.60. The intermediate term target would be around $32. Stop zone few points above $37 on volume. This trade would be low risk high reward if successful. Looks as if a lower high is forming around this level but I dont have that much conviction as the market held up again. If the stop triggers GM can retest highs even maybe $40?
CLOSE to a Short-Term bounce zone around $85-$86. Looking for a short-term oversold reversal and price confirmation for off the weekly trendline. I would just buy a size Tier 1-2 $85 Sept. calls for the bounce IF it occurs. Risk would be limited as I think the primary trend on the weekly (long term) is confirming the bearish trend. Caution: The price action has...
Just a hypothetical elliot wave potential if bears maintain control. Clear resistance on weekly above $57. If this holds JPM should atleast test the ascending wedge trendline. It might fakeout and bounce from there but unlikely as the stock as had a great run for more than a year now. Some rest is due for sure. Though Bearish case would be negated if market closes...
I think heavy longs should lighten up positions and possibly increase hedge. Tier 1-2 longs still look fine till 1640-1660 (may test this zone before another high attempt) Bearish view if we can't close above 1700 in a week or so. Not sure if highs of the year are in.
H&S? Short below $30 (Stop: daily close above $31.10). Target 1 around $25 in the medium term. Tapering should hurt homebuilders most. But if, price rebounds from here we might actually see a bullish reversal, H&S negation and then target would be atleast $34 (76.4 fib from all-time highs)
Trendline Break? But short term oversold. Looking to go long on a close above the trendline. !Caution! Gold popped today so maybe dollar weakens more. Also retail highly short EUR/USD and long USD/JPY