Just a note to those who followed my blog. I haven't been posting any new blogs due to a few changes in my life. The schedule became so tight during day time that I can no longer swing trade stocks. Instead, I am now trading forex at night time as it fits much better into my daily routines. If you have any questions or just want to say hi, please feel free to email me but remember to provide your email so I can reply back. Thanks!!

Wednesday, August 3, 2011

Oversold. Swing Longs: JBLU, FDX

Market is as oversold as it ever will be, a short term is due no matter what. With oil is tanking I'm also looking for a bounce in the oversold airline and transportation. Be careful and hedge your swing position carefully as the sell-off may start again any time soon. Here are couple of plays:

JBLU. Very oversold with heavy volume accompanied with couple of candlestick reversal pattern. If market can hold on long enough, I can see JBLU come back to restest its old support @ around $5.40

FDX: Hovering in the support zone and was strong today. Stop loss is easy to be defined and target at the 20 SMA.

And remember to hedge your positions!
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Sunday, July 24, 2011

Long TCK, Short EMR

Market is approaching a strong resistance on the S&P. while I still stay bullish on the market, a bounce off this resistance is not out of the question. Stay at least 50% cash and quick profits are still the way to go. Here are a couple of set ups for next week.

TCK (Long) Look for a break out above 53.90 and we probably can see some momentum run toward the $57  level for our first target

EMR (Short) Market is getting a bit overbought so it doesn't hurt to put on a short position as a hedge for our longs. EMR bounced off a heavy descending resistance and made a small pullback to test the 200MA and also bounced there. Looking a a continuation of this strong down trend as it breaks $54.58.

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Tuesday, July 19, 2011

Bulls Resume: CROX and CMG

Pullback is finally over, and the bulls seem to be able to take control once again with the support from earnings.
Expect this rally to test recent high and even May high. Here are a couple of setups to take advantage of this rally:

CROX Perfect pullback to 20MA and consolidate there while market was selling off. Tuesday's relief triggers the rally from CROX to resume its strong up trend.

CMG - Broke out of major resitance and consolidate at the high while market was in correction, break out of the consolidation on Tuesday on market strength and resume its uptrend.
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Sunday, July 10, 2011

Short USO, EFX.

USO (short) - Bounced off short-term descending resistance and 200MA a week after the US released the oil reserves. Expect USO to drop to $35 level before we can another bounce.

EFX (short) - Similar set up with a bounce off descending resistance and 200MA with island reversal candlestick pattern. Expect the test of recent low but keep a tight stop as market seems to still be in its uptrend. 

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Monday, July 4, 2011

Long: AAPL, ANF. Short NCI, ZLC.

AAPL - Broke out of mini bull flag approaching a weekly downward channel resistance with good momentum. The bollinger band is opening up as it approaching the top line of the band. There is a good potential AAPL will break this channel and start a new up trend.

ANF - Bouncing off a long term up trend channel support as it formed a base there around $65. Expect this stock to come back and test May high.

NCI - Very overbought at resistance of a week uptrend channel. Note that I'm ignoring the head fake in May. This is an agressive trade so take caution and take profits quickly with tight stop.

ZLC - Two gaps to fill on the last aggressive rally. The stock is forming a rising wedge after a hard sell-off. Entry trigger is at the break of the wedge rising support on 30Min chart.

Good luck and trade well!
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