Expecting strong BABA downtrend to continue, especially with current China market. Watch green macro channel for long term support. Watch dark red trigger trendline for short-term support.
Would short off the next touch of the top of the green macro channel; buy back on next touch of dark red support. Get super short on break of dark red support. Get small...
CONN is opening inside of the last gap down on the possibility of it selling or splitting. This is one of my favorite intraday trades to make; as we say about buyout news: "buy the rumor, sell the news".
Next resistance is 37.04, and then 39.72 after that. I would not expect any more than 37.04 unless someone steps forward with an offer or more news comes...
I'm day trading full time now and, being much busier, have fallen out of the habit of posting my swing ideas on here. By way of apology, here's my analysis of my favorite trade I've made in the last few months.
US steel has had a good run over the last four months, moving an average of 7 points a month since June of this year after 3.5 years of accumulation. I...
I'm primarily sharing this so my followers can use my levels to help them place trades. Each of the lines shown above were drawn the first week of June--I revise all of my major analysis levels the first week of every month. You can see how well they have held up to new highs and relatively choppy trading halfway through the month.
I have neither a short nor a...
FOSL has a decent track record. They continued this record by beating earnings this quarter.
Good year-over-year earnings growth, solid EPS, low debt ratio, good cash. If the market was getting crushed today, the 12 point drop in pre-market would have made *some* sense. It's not, though. Market analysts say that the company's fundamentals, while good, are not...
Disclaimer: I have no position in the SPY. Yet. When I swing trade it, I prefer shorting because when we're hitting these all-time highs over and over again, it's a more reliable way to make money. Intraday is a different story but irrelevant to this discussion.
Short answer: not yet.
Long answer: SPY has a history of getting smacked down every time it makes...
Lovely bear flag we have on the MOS weekly chart. With earnings coming out next week, now would be a great time to buy some May 14 puts. First target 44.36, second 39.86 (expect psychological resistance at 40 to keep it above that level.)
Once again, we've got one of my favorite patterns coming to an apex on a high-beta name. At first glance, this looks like a it might be a descending triangle with the base at 192.87, but there's no descent to make this a continuation pattern.
I'd look for an upside late this week. If we break and hold below 184.10, the pattern is invalidated and there will be a...
** excuse the weird projection start points. The source boxes cover up the target boxes and there's no easy way to get rid of them or change their location. They are intended to overlap--59.09->54.77->59.09->50.18.
1d chart shows a symmetrical triangle beginning in late March with its apex close to earnings. As this is a continuation pattern in a downtrend...
We've got a very clear head-and-shoulders pattern on the 1d chart for DD, starting last October and culminating this month. As with TWTR, our pattern is reaching its resolution in coordination with earnings.
There is a very small chance that we could have a pop off the 41.05 line if we look at the leg down as a falling wedge, but the head-and-shoulders...
The market getting hammered kept my expected pop-and-drop scenario from coming into play. We are still respecting the boundaries of the wedge, and we're hovering right around that 40.80 congestion level from Dec '13.
I maintain that the falling wedge will resolve the last week of Apr--coincidentally enough, right at earnings. The funnymentalists are going to...
It's been in play for about 2 months now, so this is a pretty extended accumulation pattern and I expect a few more bounces before this wedge resolves. It could resolve at any point from about where we're sitting now. I feel confident enough to play these bounces in my own options trading using May 14 calls and puts.
If you want to be a bit more conservative, I...
We're nearing the peak of a rising wedge on low volume and at major resistance at 189.24. This pattern is likely to resolve on 4/3 or 4/4, leading down to 186.97. It's possible that a very good jobs report (due 4/4) could lead to breaking this pattern and going to new highs, but I wouldn't bet on that.
Our next test will be what we gained at 186.97. If we hold...
