I said in our live class it would be nice to finish the week off like it started with a nice up day. Pre-market indications suggest that could be a good possibility. Beings that it is Friday so we would want to watch and see if there is sustainable buying today or just a strong open, because interest could wane during day. Seems like some of the tech stocks are holding up a little better today because of RIMM producing desirable earnings.
We will not be having a live class today or next Friday (vacation days, short handed)
I will continue to post here in this thread today as much as I can.
So far, so good... holding up well, looks like it can continue. S&P 500 testing previous high now and looks like it really wants to break higher like the DJ Industrial recently did. Nasdaq appears the strongest right now and looks like it has still has a little stored up energy for today's day-traders bulls that hasn't been put to work yet.
John Deere (DE) is a company that benefits from a cheaper US Dollar and higher agricultural prices. Farmers can more afford to update their equipment for greater productivity around the world. When we look at this current SC trade we can see the bullish uptrend that seems to have good supports still on any immediate pullbacks. This is not a picture of a stock that has topped but still has what we call trendability.
A very good trader named Jim who comes to our live class has mentioned this stock yesterday as a possible buy. Today the SC trade was triggered. CNH is a worldwide leader in heavy agricultural and construction equipment. Like the previous post in DE this stock looks like it has a trend that still has a leg to stand on near-term.
Bunge Limited (BG) is a Bermuda-based holding company. Through its subsidiaries, the Company operates as an integrated, global agribusiness and food company operating in the farm-to-consumer food chain. It operates through three divisions: agribusiness, fertilizer and food products. One of the reasons for this upswing is Bunge’s acquisition of the Agroindustrial Santa Juliana ethanol plant in Brazil.
BG is currently identifying an SC buy setup. While this setup has higher risk, if it could retrace a little bit more the risk becomes reduced and reward will improve even more. This stock appears to still have sustainable strength, enough to attract more buyers sooner or later this month. If we can get this stock to retrace just a little bit more we should begin to see the SD and PA rooms trying to identify buy setups as well, and our odds will improve in our timing to try and get back into this uptrend some how.
Monsanto (MON) currently has an SC room buy setup trade which is working well. Odds favor this trend can continue to extend itself.
Monsanto Company (Monsanto), together with its subsidiaries, is a global provider of agricultural products for farmers. Monsanto operates in two business segments: Seeds and Genomics, and Agricultural Productivity. Monsanto completed the acquisition of Delta and Pine Land Company. In September 2007, Monsanto acquired Agroeste Sementes Company. It has been a pretty good performing company for many months now.
Continuing on with the agricultural theme for today's posts, here is a current SC room buy setup trade in a stock called Agrium (AGU). Agrium Inc. is an agricultural retailer and fertilizer producer. The Company operates through three segments: Retail, Wholesale and Advanced Technologies.
Thanks for your work. Have a nice weekend. I even had my cup of coffee and was ready for our class today, but a vacation sounds good to me so I wasn't going to be too disappointed.
Thanks Art. Not done yet for today. Focusing on the agricultural theme for now, but seeing many other good ideas. Hoping next week we can get a pullback early in the week and more buying for later so we can catch more trends and not just these little swings. For today we finally see the S&P 500 breaking its previous high. Now we are getting more ducks (US Indexes) in order for a more uniformed bullish behavior. Well, will talk more later... got lots of work to still do today. Take care, have a great weekend my friend! - Marc
The Mosaic Company (MOS) is a producer of phosphate and potash combined, as well as nitrogen and animal feed ingredients. It, too, has an SB buy trade setup working well.
I said yesterday in our live class it would be nice if we closed the week out with a rally just like it started. I also said yesterday I didn't feel the market advance was over because the S&P was so close to testing its previous high. I said pre-market it looked like today could develop into an up day. I updated earlier this morning my feelings the market, Nasdaq in particular, still had a lot of life (buy energy) waiting to be put to work. As we look at afternoon trading with a couple hours left, I have to admit to still feeling the market has more energy left to be put to work still. I don't think today's advances are finished yet. It looks very much like the S&P 500 wants to close above its previous July highs, and if it is a breakout pattern, it should be able to stretch further before today is over. That is what we will be hoping for and monitoring for.... as we continue to work on more posts for today.
POT has an SC and SD trade setting up. The current DT Profile on POT is a little tricky because it has higher risk if it does not continue the uptrend now and wanted to retrace a little bit longer... but the pattern, overall, is very similar to what we have posted earlier in this thread for today. There is a suggestion it still has some life left in it for this longer-term uptrend, and we would not be surprised the trend can continue... I wouldn't chase this one... ideally, if the buy trigger were to be hit one more time and then we could start an move back up after that, it would be a better setup. This current pattern could technically retrace to 100-99 and then turn back up again. Is why I said the current setup is a tough one... will be watching for more buy strength rotation to return back to POT and then will have more confidence it these current trades....
Potash Corporation of Saskatchewan Inc. (PCS) is an integrated fertilizer and related industrial and feed products company. During the year ended December 31, 2006, the Company's potash operations represented an estimated 15% of global production, 22% of global potash capacity and 55% of global potash excess capacity.
If both the DJ Industrial and the S&P 500 could finish the week one more push higher before today's close, they would be able to record new highs. That would make good news and help improve the markets rally potential for next week.
One a different note, here is a trade I took this past week. It was a PB trade in Global Industries (GLBL) where I use the Dynamic Trend Buy Trigger at $25.17 but put my own much closer technical support Stop Loss. (below low $25) I could justify this type of trade where we combine a little bit of chart technical analysis with our DT logic. This was a lower-risk trade that has bigger trend potentials (see PB setup below) that I could justify taking the 250 shares risk. GLBL is an offshore construction company offering a range of marine construction and support services.