QSR baby! That's what that stands for to me. Anyway, it took a ton of searching, high and low to find this stock. The markets just haven't really turned from their bearish sentiment even after a strong day yesterday. I need to add some long delta to my portfolio and think this stock is just the one. Check out my market overview for why it has been so hard to find...
CB has reversed its short-term downtrend and is now looking to stay bullish. It has a couple of touches at the top channel along with some nice rejection of support even with heavy bar influence. I see CB as a great long prospect.
This ETF will act differently than the rest of the US market and it is showing signs of a strong pullback. I done a ton of short videos over the last week or two and rightfully so, the market was short overall. Today let's look for a long!
It's no secret that markets are tough to navigate right now. That is why I have been finding sectors with potential and direction. While this one only has one of those characteristics, it is waiting for volatility expansion, and all signs point to the downside. We don't need to trade everyday but, we should be able to identify stocks and ETFs that have potential...
Lennar is in downtrend and the sector can potentially give it a tailwind. I am really interested here because call credits are offering a really nice discount here. I figured I would give you my thoughts on something like this which I never have before.
CHRW is lagging sector weakness, UPS and FDX have already squeeze fired short. CHRW is logistics company just the same as the other two. We lost the 200 MA and have short term EMAs lined up perfecting. Short Squeeze on 3 different timeframes and an island top. I am hoping for not only a 3 ATR squeeze but a gap fill. Will Christmas come early?
There is a lot of indication that risk could be back on in greater markets. Tech is still very weak but, I think there is a possibility that money is rotating out of tech and into other sectors. I talked about healthcare, some utilities and minerals in other videos.
PEG is looking like a classical pattern that we see when price loses support. Lots of downward momentum. PEG lost the 200 SMA already and has rejected multiple times. It has a squeeze setting up on the daily and the sector itself, Utilities, is showing weakness as I discussed in yesterday's video.
Pressing on support with two major bars opening on their high and closing on there low. XLU is showing weakness after a double top bull leg in a larger bear trend. You might have to reread that a couple of time. There is also towards of pent up energy and momentum to the downside and an Anti formed on the MACD. Not a classic anti but, I think it is a great spot to...
I usually put out a single trade every day prior to markets opening. I do it because it is a fun way for me to share my trading knowledge with others for free. It is also a great way of journaling my thoughts. But I should have been better for all of my followers. The truth is markets have been kicking my ass since late December. In a normal bull market, my...
I don't know why but the color of copper is soothing to me. Anyway, today we are looking at Copper which is RED hot for my reasons including seasonality which is coming to an end. Here are some notes on Copper. Daily Chart: + Top Keltner touch, complex pullback + Cycle Low + MACD momentum fast angling up (near 0) and slow > 0 (but flat) + Rainbow in...
Sorry no video today but, I am looking at Costco For an earnings play in options. I'll be targeting the 20 delta calls end the week of their earnings and I will be exciting the day of earnings (they accounted after market close). The idea here is that theta decay will be out weighed by implied volatility. The chart itself is showing strength but, the daily has a...
I covered the overall action in the AMEX:SPY and other interesting sectors. I also talked about how I entered trades. What trades I have already entered in and my thoughts on where we are in the market cycle from a technical standpoint.
With the rest of the market up and down there are a few places we can look that are providing strength. Utilities, particularly water and mining (especially silver). PSLV doesn't actually mine but they do hold and store physical silver. We have our normal touch of the Keltner channel with return to the 20 ema. A failed momentum push to the downside followed by a...
CHKP is looking like a strong buy in this really tough market environment. It has held up well through poor overall market conditions. We have some downward momentum on the daily the price has completely ignored and reversed with someone bullish momentum. Weekly momentum is strong and weekly price action is still looking for a second a leg.
I decided to give a very quick run down of the stocks I am looking to trade or am already trading. Combining one good trade with the morning pullback report. I am heading to Puerto Vallarta tonight on a road trip so this was a quick and easy way for me to save time.
DE is setting up for a really nice pullback. It consolidated around a strong momentum bar and then broke out with its own momentum to the upside. The weekly and daily are both set up nicely in their own respective pullbacks.
This is the first one but throughout this video, I explain what I am seeing in certain stocks. I am a big fan of pullbacks and that how I trade. I think here you can get a feel for my thought process as I page through a bunch of stocks.