Chesapeake Energy (CHK) Attractive Above $34.60
See the narrowing trading range and how nicely the stock held above the 50 dma. Fundamentally as a growth story and alternative energy play I like the name as well. Arguably the stock has gone quite parabolical lately but the consolidation phase since late Feb ruary is helping digest the move from $20 to $35 […]
Early Monday Apr 11: Weekly Newsletter, Video & more
Good morning folks Hope everyone had a great weekend and is ready for the beginning of earnings season. In overnight action so far equity futures are up around 1/3 of a percent, silver up, gold and most of all oil are down. I sent out the weekly newsletter late last night. Sign up here if […]
Today’s Pre-Market Video is uploaded, watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Expedia (EXPE) Currently At An Interesting Juncture
EXPE caught my attention this morning as its option volatility spiked almost 20%. The stock itself so far today is down 2.40%, which comes after a 13% gain last Friday on news that the company will split its TripAdvisor company into a different publicly traded firm. Because there is corporate finance involved here on the […]
S&P 500 Inverted Head & Shoulders Pattern
I think it's worth pointing out the inverted head & shoulders pattern (bullish) that developed in the S&P500 over the past 1.5 months. With a neckline around 1340, if this pattern plays out texbook it would mean the SPX could rally all the way to around $1430ish. Just a thought for now though, I am […]
Portfolio Holdings November 10…with Commentary
95% cash, more or less the tape is insanely volatile and that currently makes it senseless to hold any bucket 2 and bucket 3 positions in equities. Our bucket 3 long position in GDX is a) wigh major exposure to gold (a commodity and metal) and b) somewhat of a hedge against lower stock prices […]
MF Global Advertisement
Just flipped through a Bloomberg Markets magazine from earlier this year and found this ad…..just sayin'
Bucket 2: WYNN – we added to the position again
WYNN is looking weak, we added to our bucket 2 short position again this morning. The head and shoulders pattern has taken its sweet time to work out but it it is now looking like it wants to resolve to the downside. We took first profits at $126 and see that if WYNN can close […]
Morning Thoughts November 10
Yesterday we witnessed a major reversal. Please note the big gaps on either side of the market here this mornign. Currently as of 8:40AM we have about a 1.4% gap to the downside and about a 2.3% gap to the upside. That sets up clearly defined targets for Bucket 1 trades and possibly Bucket 2. […]
JPMorgan For A Quick Upside Trade
Banks have underperformed the market for the better part of this year and given the current short-term oversold state in the broader U.S. equity markets the banks could offer us a chance at a quick buck here. In the chart below dating back to April note the blue line (financials) underperforming the S&P 500. […]