This Is How I’m Playing FB Now.
I like this setup, and this is how I want to play it to maximize the opportunity.
Archives: Daily Videos
The PCVA Was Calling For A Massive Short Covering Rally. We Got It. Now What?
This is how I’m setting up my trades for the rest of this week.
Conservative Daytrading Setups.
It’s summer and the trading levels are “spongy” like that can often be. Doesn’t mean we can execute the morning daytrades but it does mean we should modify the entry levels. Here is how I am doing just that.
Relative Performance and Patience.
We’re sticking with relative performance on the daily time frame setups, and we’re patient on the day trade breaches … and it’s working out very, very well.
Momentum Matters Part 2
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Canary in the Coal Mine
When the short squeeze runs out of steam, I want to focus on the canaries — the stocks that will die off first. Let’s look at XLI and BA.
Running out of Steam?
The indexes continued to trade higher today, after another news-related gap up — however, at this point I’m beginning to question that this rally will last much longer. It didn’t have quite as much steam as it did on Friday, and several key sectors were running into resistance. Our market leaders, MSFT, AMZN, NFLX, FB, and GOOGL were varied, while some tech stocks (MA, V, cloud and payment processors) were on fire and some lackluster. I view XLI and XLF as running into potential resistance, and I’m watching for the heroes and zeros — to see which can continue on the train, and which want to take a breath.
MCD and the Dow.
What was a drag on the Dow today? McDonald’s. Where are the opportunities? Imbalances like MCD often come in extreme.
Managing the Ope Trades.
The levels the market has reached recently are perfect spots to “pay yourself while you can, not when you have to,” so in that spirit, let’s get to some trade management.