I never have much time to update more of the things we discuss in our live class. Before the weekend begins I thought I would post some follow-up's on previous discussions.
Here is
TASR SA trade. It shows how you can catch a trend, then combine it with say some Technical analysis perspectives and try to trade beyond a trade.... It was just a little swing move but notice how it closed that day above the target and never backed down since. That is one of the things I look for when trying to stay beyond a target.
Marc Rinehart, 09-27-2007 08:26 AM Wrote:Market appears stable enough this pre-market to maintain an upward bias. Looks like the energy futures are recovering after holding recent lows of this week, so some money flowing back into energy stocks. Metal stocks also appear to be stabilizing and preparing to inching back up. Several tech/internet stocks are becoming more attractive than usual and appear to actually be picking up some more interest. A few that come to mind: CSCO, ULTI, CPHD, NVDA, SYNA, FARO, APH, WAT, TRMD, WDC, CYTC, SNDA, AMZN, ORCL, SLAB, CERN, COGT, CUB, SINA, CREE, ASML,ASMI, CY, MSCC, TXN, DHR, VSEA, BEC, PKI, ROP, AUO, TASR, ADSK, ATVI, HHH, FALC, NUAN, SWH. Other strong stocks such as RIMM, APPL, GOOG, BIDU continue to perform well.
Here is a copy of ADSK PB trade. Notice how it took out the previous high after getting triggered long recently. One technique I will use to get into a trade like that is to us the existing trade parameters to help me get in while combining with some technical analysis chart considerations. One aggressive technique I have used in the past is to buy an 'initial (breakeven) target' and put my stop loss below the breakout point, then use a trailing stop of my own choosing until the PB room target can get hit. If it continues to extend beyond a target I might try to stay a little longer by not moving my stop up too closely.
Here is the current HHH PB trade I mentioned the past couple weeks... it is another example of what I just said in the previous ADSK post.
I talked about wanting to buy BIDU SB trade a week ago as a day trade but it didn't do anything after that so we scratched that trade. BIDU ended up making a move very soon after that... in hindsight I should have considered looking into an options play because it was getting risky to buy and hold overnight, but the Profile and chart pattern was showing some pretty nice strength still.. I did end up taking a RIMM options trade yesterday and got out today for a one day double... primarily because I remembered how the BIDU example this past week and RIMM looked bullish going into its earnings yesterday so I remembered to consider an inexpensive options play as one trade idea. It worked nicely.
I said i really liked MON yesterday and showed this SB buy setup... Not a RRR greater than 1.6... but an ok trade in many other ways.
One of our live class attendees, a very nice gentleman named Jim, mentioned TMX was attractive this week in our class. We looked at it and found it was nice with still more potential to come. We identified this little DB day trade and also looked at the telephone group and found several of the leaders also still looked attractive.
We have talked favorably lately of the trending power going on in metals. This past week we reviewed that Gold/Silver group, for example, and here is a SC room buy trade I was able to identify, streetTRACKS Gold Trust (ETF) I actually took this one and currently have 250 shares in GLD going into the weekend. I like it because it looks like it can exceed this target under ideal circumstances.
Here is another gold-mining stock, Compania de Minas Buenaventura SA (ADR), that I think someone asked about within the last couple days. This SC room buy setup I said I liked it but thought it might retrace more first before trying to rally back up more. I would have missed this one because I honestly thought it might first retrace down to the 45 breakout point. It still looks attractive so long as it continues to stay about 45-44 area.
I have been saying for the past two months it is time for longer-term traders to focus back on the utility sector, particularly the electric utility companies. I have pointed out First Energy (FE) several times as an example of a stock I like, primarily because it is headquartered where I live and I know it well. I believe Scott from California asked at the end of about utilities a day or two ago and we reviewed the sector/group one more time. We found this SC room buy setup in FE and I said I really liked it both technically and DT Profile wise because I felt the collective impressions were showing a nice swing trade that had very good potential to extend well beyond that target and could actually be picking up the early stages still of a trend that could once again get moving back to the previous top maybe before the end of this year. That trade looks like it hit its target yesterday and is now exceeding it. This confirms my impressions this is still a trend with some leg left to stand on still.
I don't remember who asked about this one, Air Products & Chemicals (APD) in the SD and SC rooms... but I said it looked pretty decent. I proceeded to show how you can combine two similar trade setups into one chart and use them both to trade. I must have drawn a line to show what I thought would be the next move and so far we are on track to having a nice trade here.