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Seeing sector rotation into broker/dealer sector. Looking for intermediate-term strength in KCE. http://bit.ly/cvFNp8
Mar 5, 2010
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bobertak on A few ETFs setting up for buy entry today (BRF, TAN, UNG, IDX) - July 21, 2010 You are advocating long UNG? How irresponsible ...
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Four Stocks For Potential Short Selling Entry ($AAPL, $V, $MA, $MCD)
Today, there are four stocks I am stalking for potential short entry as swing trades ($AAPL, $V, $MA, $MCD).
Here is the link for a short video analysis of these technical setups.
Nasdaq And S&P 500 Bouncing, But Face Stiff Overhead Resistance ($QQQ, $SPY, $COMPQ, $SPX)
Based on yesterday's (May 23) bullish intraday price action, in which stocks shook off substantial early losses and reversed to finish flat to higher on increasing volume, it appears as if we will see a move higher in the main stock market indexes over the next several days. However, there is still an abundance of overhead supply (resistance) stocks must contend with, such as their 20 and 50-day moving averages, as well as horizontal price resistance levels.
The self explanatory charts of the SPDR S&P 500 ETF ($SPY) and the ProShares Nasdaq ETF ($QQQ) below, two popular ETF proxies for the broad market, show the next significant resistance levels for both ETFs. The 20-day EMA is the beige line and 50-day MA is the teal line. We will likely be looking to establish new swing trade short positions (or inverse ETFs) as these indices approach these resistance levels (particuarly if the major indices probe above these levels and then form bearish reversal candles).
(click to enlarge)
(click to enlarge)
As yesterday clearly demonstrates, market sentiment can reverse quickly. We went from what was shaping up to be a bearish "distribution day" (higher volume decline), to an "accumulation day" (higher volume advance) by the close. However, we still do not yet have a buy signal in the market and remain bearish on the market. Nevertheless, this could change quickly if the market posts another significant "accumulation day" sometime next week. For the moment, we anticipate short selling opportunities to develop as the market bounces.
On a separate note, I did a little write-up on my blog last night about the four new market timing modes I am now using to determine how to adjust risk in my portfolio. If interested, that article can be viewed here.
The commentary above is an excerpt from The Wagner Daily stock newsletter. Subscribers to the full version also receive our exact entry and exit prices for our best stock and ETF swing trade picks, access to our market timing model, Live Trading Room, and more. You may test The Wagner Daily stock newsletter risk-free for 30 days.
The Anatomy Of A Short Sale (12% Gain In $SOXS On A 3-Day Hold)
As a technical swing trader whose trading strategy is based on following the dominant trend of the market, I am not bothered when the stock market shifts direction to the downside because my proven market timing model continually keeps me trading on the right side of the market (or out of the market altogether at times). Last week, as the main stock market indexes fell sharply, I profited from several short and inverse ETF trades. In this article, I will walk you through the technical anatomy of one of last week's successful swing trades in which I netted a 12% gain on a 3-day hold time in $SOXS...
[click here to continue reading]