IngenuityTrading

IngenuityTrading

I have been waiting for some of the most unloved parts of the market to pick up and that includes RTX and Aerospace. A decent reversal might be setting up if todays price action is any indication of what could come in the future. Stock is still well below highs in June and I think the outlook is better now then it was then. If we can hold this support zone and...

IngenuityTrading

CME should benefit form the increase trading volume in stocks and options. The stock has had a huge decent but it looks like it could be reversing here after breaking the regression line at support. Rate of change also remains positive and its a decent risk/reward setup

IngenuityTrading

Buying here with a stop on any close below the 252 day moving average. I am looking for price to head back to the 195 area. SGEN has burned me recently but I am taking another shot at range lows. I like the rate of change divergence.

IngenuityTrading

Below 3740 the trend is more bearish. That is the level I am watching to determine whether to reduce long stock exposure. Above that level the trend remains bullish. How tonight goes will determine a lot in terms of how to think about stocks going forward

IngenuityTrading

Buying stock and selling the 210 calls. Stop on the stock will be a close below 194. V has had a big sell off into earnings so I see potential for a relief rally back into the range.

IngenuityTrading

Buying here with a stop on a close below 9.81. Target is 12 or higher. Oil has been strong as well as emerging markets so hopefully that will also be a catalyst besides the technical set-up

IngenuityTrading

AMD cleared the resistance area I mentioned in an earlier post and has the potential for a breakout into earnings. The play is covered stock (long stock / short 95 calls) not sure how it will play out but its a conservative play

IngenuityTrading

Another win for Wall St bets today! Not rooting against the crowd but yesterdays action should remind you how fast things can change. If you happen to be in the stock here is a trendline worth keeping an eye on so you have an idea when you can take some profits. Until then GME to the moon!

IngenuityTrading

Last week I attempted to short the usd/mxn and it didn't work out to say the least. This week I am back for more. The trend is still bearish and we are still below the midpoint of the range (rectangle). Selling here or higher with a stop above todays high at 20.4000. Hopefully the spike up marked the top and there will be continuation to the downside over the...

IngenuityTrading

SPLK was a range reversal trade that was underwater for most of the month but is now beginning to show signs of life. I have moved my stop to the most recent swing low at 159 and I am still looking for the stock to fill the gap (185-205). Rate of change is slightly positive which is encouraging. Still a while until earnings so no major planned news coming. Hoping...

IngenuityTrading

Another example of the power of swing trading. This was a range trade that was a loser tested the low end of the range, held range lows with rate of change divergence and reversed higher. After todays enormous move I am going to cut half the position but the trend is definitely still bullish.

IngenuityTrading Updated 

I am actively hedging my portfolio as we speak. Stocks have had a great run and this might be the right time to protect against a larger correction. I am selling with a stop above 3860. We could see range lows at 3741

IngenuityTrading

Since the ban on Trump and many other people/organizations, Twitter has been an underperformer. There are a lot of reasons why investors would be hesitant given the uncertainty of potential regulation but from a technical standpoint, the stock seems poised for a mover higher. If twitter can clear the down trendline and hold range low levels at 44.00, the stock...

IngenuityTrading

NTES has been a fantastic trade to say the least. A range reversal trade that has turned into a full on breakout. On todays strength I think its a good time to move my stop up to the gap at 117.56. Anytime a stock goes parabolic you know a pull back can come at any moment.

IngenuityTrading

Range reversal trade to the downside looking for price to head back down to range lows at 1.8523. Stop at 1.9240. Rate of change (22 days) is starting to turn negative and my bet is that risk on currencies like NZD remain strong especially in pro inflation environments.

IngenuityTrading

I have been posting on litecoin holding support for the entire month. Price enters the support zone, bounces, then seems to re-enter a week later. Is the third time a charm? The price action has looked very similar to bitcoin... Not sure is that's good or bad but both are bullish trend still so until that changes my bias still remains bullish. Maybe the most...

IngenuityTrading Updated 

There is a lot of talk about the dollar in relation to stimulus and money supply. I think that the US is committed to the dollar getting weaker. Technically there is a nice range reversal setup potentially back toward 1.2350

IngenuityTrading

Since the beginning of the year the Ethereum and Bitcoin divergence has been enormous. Honestly I am not sure why. I do understand the applications for Ethereum for out ways the potential for Bitcoin but I also understand Bitcoin potentially replacing Gold and potentially many sovereign currencies especially in emerging markets. Both seem to have enormous...