Trades we want to do upon a higher low confirmation:
if and when we put in a higher low in the major indices we want to buy: MS, AKAM, RIMM, HIG …we are keeping this on our radar…
VIX at a big support level…if it holds watch equities lower…
Boring Tape…Patience is needed
Buying into a 11% rally (SPX) in just 6.5 trading sessions is bad risk/reward. the trading week thus far is boring and is requiring much patience. patience however will get rewarded if we exercise discipline. at this stage our portfolio is fairly flat and we are looking for a little pause/pullback of this rally. until […]
Gamestop May Soon Work Higher
GameStop Corp (NYSE:GME) is a retailer of video game products and PC games. As the stock has recently made a good move off a near-term bottom despite lousy August video game sale numbers it caught my attention. The weekly chart displays a narrowing trading range dating back to 2009. On the week of […]
Autozone Topside Breakout Potential
With more than 4,600 stores in the US, Puerto Rico, and Mexico, Autozone (NYSE: AZO) is one of the larger U.S. based retailers and is a Fortune 500 company. Its business of selling automotive replacement parts and accessories is doing well and the stock had a monster year in 2010, up more than 70%. […]
EUR/USD At Support Level
The dollar rallied further yesterday, bringing the EUR/USD back down to a multi-year trend line. In early April the dollar pierced through a downward sloping trend line near 1.42 at the time and now is retesting these levels. While this could provide some sort of support, our take is that the dollar's strength here, partially […]
I am recording the pre-market video now, will be available here shortly:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Levels To Watch On SPX, RUT, IYT
Good Morning Again! Here are the levels I am watching on the S&P500, the Russell 2000, and the Dow Transports ETF (IYT). SPX Support: 1320, 50 day moving average (yellow line), 1310, 1300. SPX Resistance: 1340, 1345. I still see a potential final SPX upside target somewhere between 1380 and 1450. RUT Support: […]
F5 Networks (FFIV) Still Acting Weak – Ride The Trend
In the chat-room we have been short FFVi for the past 10 days or so and are sticking with our final profit target of $88 so far. It's been a big move down off the highs at $145ish and I'm not trying to pick up pennies after making dollars, but this particular stock remains acting […]
Altria Group (MO) All-Time High A Fade?
Yesterday MO made a new all-time high and as such closed above last November's high. With earnings coming up on April 20th and the stock having had the massive move up, the question I am asking is whether it is worth trying to fade this potential double-top formation. Fundamentally speaking I can see demand from […]